Salil Parekh, 53, will take over as the new CEO & MD of Infosys on Tuesday bringing to an end months of acrimony, wiff of scams and exit of the previous CEO and a few other directors on the company’s board.
Salil Parekh — who was a group executive board member with global consulting firm Capgemini — will formally join the $10-billion IT giant, Infosys on Tuesday. His appointment was announced by Infosys on December 2. Stakeholders including the shareholders will keenly watch the performance of Parekh whose main task will be to see that the company is able to shake off the controversies surrounding it and restore the confidence of its employees and investors.
Nandan Nilekani, Chairman of the Board in a statement last month, said that Parekh has a strong track record of executing business turnarounds and managing very successful acquisitions. “The board believes that he is the right person to lead Infosys at this transformative time in our industry.”
Kiran Mazumdar-Shaw, Chairperson of the Nomination & Remuneration Committee, said that Parekh was selected after a comprehensive global search effort and was the top choice from a pool of highly qualified candidates. The new CEO has a Master of Engineering degrees 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.
UB Pravin Rao will step down as the interim CEO and Managing Director effective January 2 and will continue as Chief Operating Officer and a whole-time Director of the company.