New Infosys CEO an expert in mergers and acquisitions
Salil S Parekh, the new CEO of Infosys, has an expertise in mergers and acquisitions and had played pivotal role in Capgemini's India operations
Salil S Parekh, the new Chief Executive Officer (CEO) and Managing Director of Infosys, is described as a soft-spoken yet determined man and a turnaround manager with expertise in mergers and acquisitions, reports PTI. The Board of Directors of Infosys made the announcement on Saturday and Parekh will take charge from January 2 next year.
His persuasive skills will certainly come handy when he takes over the top role at India’s second largest IT services company that is recovering from a year-long acrimony between the previous management and the founders led by N.R. Narayana Murthy.
Parekh, 53, was chosen from over two dozen candidates in a search that lasted about three months and covered a wide canvas of names within Infosys as well as alumni and external aspirants. His contract is for a period of five years.
The Nomination and Remuneration Committee Chairperson Kiran Mazumdar-Shaw said that with his strong track record and extensive experience, the company believes it has the right person to lead.
U.B. Pravin Rao will step down as interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time Director of the Company.
Parekh holds a Masters degree in Computer Science and Mechanical Engineering from Cornell University, and a Bachelors degree in Aeronautical Engineering from the IIT, Bombay. He joined Capgemini in 2000 after the consulting division of Ernst and Young was acquired by the French IT services company. He occupied various leadership positions in the Group.
Parekh played a pivotal role in building Capgemini’s operations in India and then in Capgemini’s acquisition of iGate in 2015.
Earlier, some names including that of former Infosys executive Ashok Vemuri cropped up in the media but he reportedly expressed his unwillingness to accept the job. Vemuri had quit Infosys in 2014 after Vishal Sikka was brought in as the company’s CEO and managing director.
Sikka quit amid turmoil in Infosys after a prolonged battle between the Board and the company founders leading to the return of Nilekani, a company co-founder, at the helm in August.