Published: Sun, December 03, 2017
Economy | By Melissa Porter

Who is Salil S Parekh? Infosys' new CEO

Who is Salil S Parekh? Infosys' new CEO

The hunt for the new chief executive officer of Infosys has finally ended, with the Indian technology company announcing Salil Parekh as the CEO and managing director from January 2, 2018.

The company said that UB Pravin Rao has resigned as interim CEO and MD, which will be effective from 2 January 2018. "He (Parekh) has almost 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", Nilekani said in the press release.

Nandan Nilekani, the Chairman of Infosys Board, said in a regulatory filing with the Bombay Stock Exchange on December 2 that the board thinks he is the right person to lead the company. An IIT Bombay alumni, he holds Masters degrees in computer science and mechanical engineering from the Cornell University, in the United States. Rao will be re-designated as the chief operating officer of the company from January 2. "Salil contributed in particular to the development of the group in India and in the USA", said in the statement. Sikka had joined Infosys from German software maker SAP SE in 2014, and was the first outsider to be appointed CEO of the Bengaluru-headquartered company. "Salil contributed in particular to the development of the Group in India and in the US", Paul Hermelin, the Chairman and Chief Executive Officer of Capgemini Group, said in a statement. Parekh's appointment comes months after the resignation of former CEO Vishal Sikka.

He had been associated with Capgemini Parekh for over 25 years now. However, unlike the Tatas who finally opted for an insider to be chairman of Tata Sons, Infosys has again looked outside and brought in Parekh, apparently much to the disappointment of the internal candidates.

In March 2015 he was named the deputy chief executive officer of Capgemini Group.

The Euro 12.5-billion ($14.9 billion) Capgemini is a 50-year-old firm with about 200,000 employees in 40 countries the world over.

For now, Infosys has already scaled back its revenue outlook to at-best 6.5% in constant currency terms, as against at-best 8.5% growth outlined at the start of the financial year. "Infosys" statement on Saturday noted that the selection of Parekh was done based on the recommendation of Nomination and Renumeration Committee. He lists his current position at Capgemini as CEO for United Kingdom, north America and Asia by markets and for global financial services, by vertical, on LinkedIn. "The Board is also grateful to Pravin for his leadership during this period of transition".

Like this: