Infosys Ltd. named Capgemini veteran Salil S.Parekh as CEO and MD, filling the vacancy created at the top following the sudden resignation of Vishal Sikka on August 18.
Mr. Parekh who controls Master of Engineering degrees in the Computer Science and Mechanical Engineering from Cornell University. He was a member of the Group Executive Board at Capgemini will join Infosys on January 2, 2018.
Infosys chairman Nandan Nilekani 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”.
Mr. Parekh will need to tap all of that experience given that he would be taking the responsibility in the wake of a trying period for the company that saw its co-founder N.R. Narayana Murthy promise in a very public spat with Mr. Sikka and Infosys’s previous board over issues of corporate governance.
Following Mr.Sikka’s sudden departure, Infosys had restructured its board and brought back Mr.Nilekani, another co-founder, and former CEO, as non-executive chairman with a mandate to help find a new executive leader and restore confidence among customers and employees.
Infosys founder N.R. Narayana said, “I am happy that Infosys has appointed Mr. Salil Parekh as the CEO. My best wishes to him.”
The company hopes that Parekh’s background in the financial services industry throughout his career will help it collect more information in the BFSI section across Europe and North America. BFSI, the bread, and butter for all Indian IT services companies donated about 33% to the company’s top line for the second quarter ended September 30.
Kiran Mazumdar-Shaw, the chairperson of the nomination & remuneration committee, said, “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.