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Infosys appoints Salil S Parekh as CEO & MD

03 December 2017
Infosys appoints Salil S Parekh as CEO & MD

Salil Satish Parekh, who lost out to Vishal Sikka the last time Infosys was hunting for a new chief executive officer in 2014, has now been tasked with leading the company a little over four months after Sikka's acrimonious exit from Infosys, with chairman Nandan Nilekani and the board of India's second largest outsourcing firm putting their faith on a technology industry veteran of almost three decades.

U.B. Pravin Rao will step down as the interim CEO and MD on January 2, 2018 and continue as Chief Operating Officer and a whole-time director of the company, according to the statement. He has almost three decades of global experience in the IT services industry. "With his strong track record and extensive experience, we believe, we have the right person to lead Infosys". "The board believes that he is the right person to lead Infosys at this transformative time in our industry", Infosys chairman Nandan Nilekani said. Parekh, who got the top job from a pool of 30 candidates who were considered for the role, has a master's degree in computer science and mechanical engineering from Cornell University.

The company's previous Board blamed Murthy for Sikka's dramatic resignation three years after he joined the outsourcing firm in August 2014 from global software major SAP AG of Germany.

On Saturday, Capgemini cleared that indeed Parekh would be leaving the position in the company to seek better opportunities at Infosys, from January 1, 2018.

After months of stress, turmoil and billions of dollars in shareholder value destruction, Infosys has finally named a new CEO, Capgemini's Salil Parekh.

He had been associated with Capgemini Parekh for over 25 years now. The year-long, public fight ended in Vishal Sikka resigning as CEO in August, three years after he had been handpicked for the job by Murthy himself.

Paul Hermelin, Chairman and Chief Executive Officer of Capgemini Group said: "I would like to thank Salil for his involvement in the Capgemini journey".

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. "Infosys" statement on Saturday noted that the selection of Parekh was done based on the recommendation of Nomination and Renumeration Committee.

"As India remains the heart of IT and Business Process Management service delivery, Sen said Parekh's grooming in India would be an advantage to establish the right "face to the Infosys brand" in addition to his experience of working across global cultures". "The board is also grateful to Pravin for his leadership during this period of transition", Nilekani added.