The appointment of Parekh, who was a top executive at global IT services giant Capgemini prior to his latest assignment, marks the second successive time that Infosys has chosen a rank outsider to helm the company, after being run by its founders for the better part of its first three decades of existence.
Nandan Nilekani, Chairman of Infosys' board, said "We are delighted to have Salil Parekh to joining as the CEO & MD of Infosys Company". Parekh 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. Earlier Mr. Vishal Sikka departure was related to a tussle between the early board member of Infosys founder Mr.
Parekh, Master of Engineering degrees in Computer Science and Mechanical Engg from Cornell University, has more than 30 years of experience in IT services industry. The Bangalore-based company has already cut its revenue growth forecast for the year to 5.5% to 6.5%, from 6.5% to 8.5%.
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Parekh started his career with Ernst & Young in the year 1992 as a Partner. During his seventeen years with the company, he has occupied various leadership positions in the Group.
N R Narayana Murthy, the company's founder-chairman and the man who led the charge against Sikka for alleged lapses in governance and deviation from Infosys' cultural values, endorsed the new candidate.
Parekh, who had been instrumental in expanding Capgemini's India team, had once been seen as a potential successor to Capgemini CEO Paul Hermelin.
Nilekani underlined the company's effort to rapidly scale up digital services, train and retrain employees in new technologies, and take stock of how its various products and services can be integrated. "With his strong track record and extensive experience, we believe, we have the right person to lead Infosys", Kiran Mazumdar-Shaw, chairperson of the nomination& remuneration committee, said.
Meanwhile, U B Pravin Rao has been reinstated as the Chief Operating Officer and Whole Time Director of Infosys.