Salil Parekh Appointed As Infosys ' New CEO and MD

Salil Parekh Appointed As Infosys ' New CEO and MD

Sanchit Vir Gogia, CEO and Chief Analyst at Greyhound Research said that Salil is a great choice, with a great hold on the yesterday, today and tomorrow of the business.

India's second largest software services company, Infosys, has brought in a senior figure from French IT firm Capgemini - Salil Parekh - as managing director and chief executive.

Nandan Nilekani, Chairman of Infosys' board, said "We are delighted to have Salil Parekh to joining as the CEO & MD of Infosys Company".

"Parekh, 52, joins Infosys from Capgemini where he was a member of the Group Executive Board", said the IT major in a statement here.

Parekh, who has Masters degrees in computer science and mechanical engineering from Cornell University in the United States and a B. Tech degree in aeronautical engineering from IIT-Bombay, joined Capgemini in 2000 when it acquired the consulting division of Ernst & Young (E&Y), the London-based global accounting firm, and occupied leadership positions in the group during his 17-year-long stint. "He also has multinational experience and global exposure, which will put Infosys in good stead", the former Telecom Secretary told a business news channel.

Infosys in October reported a 3.3 percent year-on-year rise in profits for the second quarter after the boardroom turmoil hit shares for several weeks. "I am happy that Infosys has appointed Mr. Salil Parekh as the CEO".

What works in his favour is that Salil will have a cover in the form of Nandan, who is also very close to founder NR Narayana Murthy.

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Parekh will take over on January 2, 2018.

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

Mint could not immediately verify whether Parekh left Capgemini because he was not elevated to the role of COO. "His departure will be effective on January 1", the company said. He has been given a 5-year term. Described by peers as softspoken and firm, he is now based in Mumbai.

"The only thing that is common between Vishal and him that they had not been the CEO of a publicly listed firm before their appointment to Infosys".

India's outsourcing companies are seeing their biggest customers shift to cloud computing, making much of their cheap labour based traditional application development and maintenance redundant.

"The board believes that he is the right person to lead Infosys at this transformative time in our industry", he said.

"So Infosys appears to have played it safe as the company a bad experience of earlier appointing an American CEO based out of U.S.", said Shriram Subramanian, founder and managing director of proxy firm InGovern Research.