Infosys appoints Salil S Parekh as CEO, MD

Parekh, who is joining the company from Capgemini, will take over on January 2, 2018

India's second largest IT firm Infosys said on Saturday that it has appointed Salil S Parekh as its chief executive officer and managing director.

Parekh, who is joining the company from Capgemini, will take over on January 2, 2018, Infosys said in a statement.

'He (Parekh) 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,' said Nandan Nilekani, chairman of Infosys Board.

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

Previously, Parekh was associated with Capgemini where he was a member of the Group Executive Board.

He has Master of Engineering degrees in Computer Science and Mechanical Engineering from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.

U B Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time Director of the company, Infosys said.

Happy with Parekh's appointment, says Murthy

Infosys founder NR Narayana Murthy expressed satisfaction at the appointment of Parekh and wished him well for the new role.

Murthy had a protracted stand off with the previous Infosys management over issues of corporate governance and compensation to former executives, leading to the abrupt resignation of the then CEO, Vishal Sikka.

'I am happy that Infosys has appointed Salil Parekh as the CEO. My best wishes to him,' Murthy said in a brief statement.

He, however, did not answer detailed queries on the development.

This is the second time Infosys is bringing in an outsider for the top job.

Sikka, who was brought in from SAP in 2014, was the first non-founder CEO at the over USD 10 billion company.

In August this year, he resigned from the company following months of acrimony with high-profile founders, led Murthy, citing 'malicious' and 'personal attacks' on him.

Nandan Nilekani, one of the co-founders of Infosys, was brought in as non-executive chairman to restore order at the embattled company.

Photograph: Kind courtesy, Capgemini/Instagram