Infosys Names Capgemini's Salil Parekh As New CEO
Indian software services giant Infosys named Salil S Parekh as its new CEO and managing director, nearly four months after its previous head Vishal Sikka quit following criticism from a group of founders. The appointment of Parekh, who was a top executive at global IT services giant Capgemini prior to his latest assignment, marks the second successive time that Infosys has chosen a rank outsider to helm the company.
Parekh lost out to Vishal Sikka the last time Infosys was hunting for a new chief executive officer in 2014, has now been tasked to lead the company.
On August 18, Vishal Sikka has resigned as the Chief Executive Officer and Managing Director of Infosys. In his notice of resignation to the Board, Dr. Sikka reiterated his belief in the great potential of Infosys, but cited among his reasons for leaving a continuous stream of distractions and disruptions over the recent months and quarters, increasingly personal and negative as of late, as preventing management’s ability to accelerate the Company’s transformation.
Parekh’s appointment drew immediate praise from Infosys board and directors. Commenting on the appointment, Nandan Nilekani, Chairman of the Board said, “We are delighted to have Salil joining as the CEO & MD of Infosys. He has nearly three decades of global experience in the IT services industry. He has a strong track record of executing business turnarounds and managing very successful acquisitions. The Board believes that he is the right person to lead Infosys at this transformative time in our industry. The Board is also grateful to Pravin for his leadership during this period of transition.”
Kiran Mazumdar-Shaw, Chairperson of the Nomination & Remuneration Committee, stated, “After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD. He was the top choice from a pool of highly qualified candidates. With his strong track record and extensive experience, we believe, we have the right person to lead Infosys.”
U B Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time Director of the Company.
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