4-month hunt ends: Infy names Salil Parekh CEO

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Infosys on Saturday said it has appointed Salil S Parekh as its CEO and Managing Director, concluding the 3-month high-profile executive search at the country "s second largest IT firm".

3- Parekh has almost three decades of global experience in the IT services industry. He has a very strong reputation within Capgemini's financial services business and can help grow Infosys' consulting approach, which is key to the firm's growth, he said. The Board believes that Parekh is the right person to lead Infosys at this "transformative time in the industry", he added.

Salil Parekh will be effectively appointed as Infosys CEO on January 2, 2018.

Kiran Mazumdar Shaw, Chairperson of the Nomination and Remuneration Committee said, "He was the top choice from a pool of highly qualified candidates".

8- Parekh is also a member of the Group Executive Board of Capgemini.

Parekh has Masters degrees in computer science and mechanical engineering from Cornell University in the U.S. and is a B. Tech in aeronautical engineering from IIT-Bombay. 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.

Capgemini is a global consulting, technology and IT outsourcing firm headquartered in Paris. "Salil contributed in particular to the development of the Group in India and in the US", Paul Hermelin, the Chairman and Chief Executive Officer of Capgemini Group, said in a statement. "Salil contributed in particular to the development of the group in India and in the United States", said in the statement.

Former Infosys Director and Manipal Global Education Chairman T.V Mohandas Pai hoped that Parekh's appointment would work out better, as there was a similar business background in both the companies.

Interestingly on Saturday, Capgemini put out a separate press release, saying that Parekh "decided to leave the Group in the context of the recent managerial evolutions communicated in October".

6- He has occupied various leadership positions in Capgemini 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.

"The board is grateful to Pravin for his leadership during this period of transition", Nilekani said. He lists his current position at Capgemini as CEO for United Kingdom, north America and Asia by markets and for global financial services, by vertical, on LinkedIn.

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