Infosys appointed Capgemini executive Salil Parekh as Chief Executive Officer effective January 2, 2018, putting an end to an executive search that lasted for almost two months.
Parekh, who had been a member of Capgemini's group executive board (equivalent to a deputy CEO's post), was the CEO of the company's financial services business across Europe, North America and Asia. As part of the appointment, Infosys said that interim CEO and MD Pravin Rao, a company veteran, will step down from his role but will continue as the chief operating officer and a whole time director till August 2022. Parekh has a Master's degree 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. Also, the Infosys board believes that he is the right person to lead company at this transformative time in the industry.
Salil Parekh will be effectively appointed as Infosys CEO on January 2, 2018.
The 53-year-old Parekh has come up through ranks to become the executive, who played crucial roles in building offshore delivery capability at Capgemini.
"What works in his favour is that Salil will have a cover in the form of Nandan, who is also very close to founder NR Narayana Murthy". "He (Parekh) has almost three decades of global experience in the IT services industry". The year-long, public fight ended in Vishal Sikka resigning as CEO in August, three years after he had been handpicked for the job by Murthy himself.
Another major contention was the Panaya acquisition by Infosys.
Salil S. Parekh will be the sixth CEO of Infosys. Sikka, who was brought in from SAP in 2014, was the first non-founder CEO at the over United States dollars 10 billion company.
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.
Parekh, joined Capgemini in 2000 after the company bought the consulting arm of Ernst and Young. It should also be seen evidence that Nilekani can back up his rhetoric and deliver on his promises, amid speculation that Infosys might not be able to find the right candidate for many months.
According to media reports, advisory arm Everest Group chief executive Peter Bendor-Samuel said in 2015 that Capgemini achieved vastly greater growth under Parekh than had been expected.
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