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Infosys appoints Salil S Parekh as CEO: Some key facts
04 December 2017, 12:21 | Kenneth Drake
Infosys names Salil S Parekh as CEO and Managing Director
The Board of Directors of Infosys announced the appointment of Salil S Parekh as Chief Executive Officer and Managing Director, effective from January 2 next year.
Parekh, who is credited with leading several key businesses at the French technology company, is remembered as a being firm and outspoken in a company that favours conservatism over aggression.
Salil Parekh, the new CEO of Infosys, is no stranger to the the world of IT services, and not even to the process of a CEO search at Infosys. "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. In an earlier statement, Hermelin had referred to Parekh's aforesaid business skills, stating: "Salil contributed in particular to the development of the group in India and in the USA".
Parekh has a Master of Engineering degree in Computer Science and Mechanical Engineering from Cornell University, and Bachelor's degree in Aeronautical Engineering from the Indian Institute of Technology (IIT), Bombay.
Parekh, joined Capgemini in 2000 after the company bought the consulting arm of Ernst and Young.
Capgemini reported €12.5 billion ($14.9 billion) in revenue for the last year as against Infosys ending with $10.2 billion in revenue for the year ended March 2017. The Bengaluru-based firm had initiated the search after CEO Vishal Sikka resigned in August following a protracted acrimony between the management and the founders. Narayana Murthy regarding executive pay structure and company direction.
Salil S. Parekh will be the sixth CEO of Infosys. 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.
This time round co-founder Nandan M. Nilekani was recalled, a week after Sikka's resignation, to run the company as non-executive chairman and find a new CEO. "The Board is also grateful to Pravin for his leadership during this period of transition", said Nilekani on Saturday.
Soon after Vishal Sikka quit the company in August this year, Infosys named its COO UB Pravin Rao as interim CEO & brought in one of its founders Nandan Nilekani as a non-executive chairman of the board. Nilekani had said at the time that cultural fit would be an important criteria for the top job, making internal candidates "very strong contenders".
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