Infosys has appointed Salil S. Parekh as the Chief Executive Officer and Managing Director of the company effective January 2, 2018. UB Pravin Rao, who was filling in the CEO role on interim basis, will now continue as Chief Operating Officer and a whole-time Director of the company, Infosys said in a statement.
Apprising the Bombay Stock Exchange about its decision, Nandan Nilekani said Parekh has almost three decades of global experience in the IT services industry and has a strong track record of executing business turnarounds.
His exit and the prolonged public row led to a reshuffling of the Infosys' board with Nandan Nilekani, a co-founder and former CEO, returning as non-executive chairman. Prior to this, Parekh has been a member of the executive board of the entire group in French multinational professional services and business consulting corporation- Capgemini.
Parekh has Masters degrees in computer science and mechanical engineering from Cornell University in the United States and is a B. Tech in aeronautical engineering from IIT-Bombay.
Salil has a great eye for detail, and is a good conversation holder on digital, cloud and the IT modernisation story, said Gogia.
The company's previous Board blamed Murthy for Sikka's dramatic resignation three years after he joined the outsourcing firm in August 2014 from global software major SAP AG of Germany. However, unlike the Tatas who finally opted for an insider to be chairman of Tata Sons, Infosys has again looked outside and brought in Parekh, apparently much to the disappointment of the internal candidates.
His tenure will begins on January 2, 2018.
"Capgemini has agreed on Parekh's departure".
"The only thing that is common between Vishal and him that they had not been the CEO of a publicly listed firm before their appointment to Infosys".
After months of stress, turmoil and billions of dollars in shareholder value destruction, Infosys has finally named a new CEO, Capgemini's Salil Parekh.
The Euro 12.5-billion ($14.9 billion) Capgemini is a 50-year-old firm with about 200,000 employees in 40 countries the world over.
"The Board is also grateful to Pravin Rao for his leadership during this period of transition", added Nilekani in the statement. "Salil has grown along with the Indian IT services industry, and has experience working out of India, and is going to be based out of Bengaluru".