Infosys appoints Salil S Parekh as CEO & MD

India’s second largest IT firm Infosys said today that it has appointed Salil S Parekh as its CEO and Managing Director

Infosys on Saturday appointed Salil S Parekh (53) as chief executive officer and managing director.

Previously, Parekh was associated with Capgemini where he was a member of the Group Executive Board. Capgemini is one of the world's largest IT consulting, outsourcing and professional services companies with nearly 190,000 employees in over 40 countries, headquartered in Paris, France. He joined the company in the year 1992.

The search for a new CEO at Infosys Ltd was necessitated by the premature exit of former CEO Vishal Sikka in August this year following differences with a group of founder-investors led by the iconic founder of the company, N R Narayana Murthy. "I am happy that Infosys has appointed Mr. Salil Parekh as the CEO. My best wishes to him".

Nilekani returned to the company as non-executive Chairman on August 18. Parekh, like Nilekani, is an alumnus of IIT-Bombay. "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", he said in a statement.

"With his (Parekh) strong track record and extensive experience, we believe, we have the right person to lead Infosys", Shaw said.

"The Board is also grateful to Pravin Rao for his leadership during this period of transition", added Nilekani in the statement.

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


Parekh, who is now based out of Mumbai, will relocate to Bengaluru, which houses Infosys's headquarters.

"Capgemini has agreed on Parekh's departure".

Mint could not immediately verify whether Parekh left Capgemini because he was not elevated to the role of COO. "He has relinquished his responsibilities within the group and his managerial transition is already in place", said the French company.

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. However, Capgemini's market cap of €16.35 billion ($19.45 billion) is less than Infosys's market cap of $33.6 billion.

Parekh had joined Capgemini in 2000 as a result of the acquisition of the consulting division of Ernst and Young and occupied various leadership positions in the company. He will take over at Infosys on January 2, the Bengaluru company said in a press release on December 2.

Parekh has been appointed for a five-year term effective January 2, according to an Infosys filing to exchanges.

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