ReutersInfosys, India's second biggest software services company, named Salil S. Parekh, a senior executive at French IT services company Capgemini SE, as its new CEO and managing director, taking another shot at non-founder-led management, after the previous experiment ended in acrimony. The announcement was made on Saturday. He has almost three decades of global experience in the IT services industry.
3- Parekh has almost three decades of global experience in the IT services industry. "The board believes that he is the right person to lead Infosys at this transformative time in our industry", Infosys chairman Nandan Nilekani said.
"He has a very strong IT services and consulting pedigree, which is proven with many years of technology and business leadership experience", said Phil Fersht, CEO and Chief Analyst at research firm HfS Research. Parekh, who got the top job from a pool of 30 candidates who were considered for the role, has a master's degree in computer science and mechanical engineering from Cornell University. Salil S Parekh will replace U B Pravin Rao, who had earlier replaced Vishal Sikka as the interim CEO and Managing Director. Capgemini is one of the world's largest IT consulting, outsourcing and professional services companies with nearly 190,000 employees in over 40 countries, headquartered in Paris, France.
Infosys in October reported a 3.3 percent year-on-year rise in profits for the second quarter after the boardroom turmoil hit shares for several weeks.
In a related development, Capgemini announced in Paris that Parekh would leave the group on January 1, 2018. "With his strong track record and extensive experience, we believe we have the right person to lead Infosys", said Kiran Mazumdar Shaw, Chairperson of the Nomination and Remuneration Committee in the Infosys Board.
"I am happy that Infosys has appointed Parekh as the CEO".
"Salil has relinquished his responsibilities within the Group and his managerial transition is already in place". His departure from Capgemini will be effective on January 1st.
Parekh joined Capgemini in 2000 and occupied various leadership positions in the group.
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.
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.
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.