Sunday, 17 December, 2017

Infosys names Capgemini's Salil S. Parekh as CEO after Vishal Sikka clash

Infosys appoints Salil S Parekh as CEO and MD Pic Courtesy Youtube screengrab Nasscom Events
Jo Caldwell | 04 December, 2017, 00:19

Infosys, putting an end to an executive search that lasted for almost two months, appointed Capgemini executive Salil Parekh as New CEO (Chief Executive Officer) and MD (Managing director).

Parekh had been previously associated with Capgemini for 25 years and was till recently a member of the Group Executive Board.

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 has almost three decades of global experience in the IT services industry.

Infosys Chairman Nandan Nilekani has stressed that the company will continue looking at acquisitions to accelerate its pivot to new technologies, as it embarks on a strategy of building platforms for its customers that bundle software products with services. The Board believes that he is the right person to lead Infosys at this transformative time in our industry. Earlier Mr. Vishal Sikka departure was related to a tussle between the early board member of Infosys founder Mr. Parekh, who got the top job from a pool of 30 candidates who were considered for the role, has a master's degree in computer science and mechanical engineering from Cornell University.

Salil 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 Group.

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.

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Salil S. Parekh will be the sixth CEO of Infosys.

Infosys will also hope that Parekh's background in the financial services industry throughout his career will help it garner more deals in the BFSI sector across Europe and North America.

He has held several position at Salil Parekh Capgemini.

It was then that Nilekani - one of the Infosys co- founders and Aadhaar architect - was brought in as Non- executive Chairman to restore order at the embattled company. He also will be the second outsider to be named Infosys CEO after Sikka, who stepped down citing unwarranted interference from company promoters.

Parekh will start his new job at Infosys in January, which indicates that he will have a three-month period to get familiar with the almost 200,000-strong company.

U.B. Pravin Rao who was serving as the interim CEO has been re-designated as chief operating officer from January 2, Infosys said.

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