Infosys names Capgemini’s Salil S Parekh as CEO

Indian software-outsourcing giant Infosys has named Salil S Parekh as Chief Executive Officer, ending the company’s search for a new leader after Vishal Sikka quit following criticism from the founders

Salil S Parekh, a member of the executive board at Capgemini, has been appointed CEO and Managing Director of Infosys for a five-year term, starting on 2 January 2018.

Current Chairman and Infosys Co-founder Nandan Nilekani said Parekh “has a strong track record of executing business turnarounds and managing very successful acquisitions”, backed up by 30 years of experience in the global IT services industry.

Nilekani had returned as chairman after Vishal Sikka’s exit and recast the board, soothing investor and employee concerns. Pravin Rao, who had stepped in as interim chief, will become Chief Operating Officer and Whole-time Director.

At Capgemini, Europe’s largest IT-services firm, Parekh had responsibility for an application-services unit that produced about half of group revenues. Ashutosh Sharma, research director at Forrester Inc. in New Delhi, said his appointment should close a “chapter of uncertainty” and re-energize Infosys in markets beyond North America, where outsourcers get the bulk of sales.

[Bloomberg]
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