Infosys appoints Salil S Parekh as CEO & MD

Infosys appoints Salil S Parekh as CEO & MD

Infosys appoints Salil S Parekh as CEO & MD

Global software major Infosys on Saturday announced the appointment of Salil S Parekh from Capgemini as its new Chief Executive Officer and Managing Director with effect from January 2. "He has almost three decades of global experience in the IT services industry", said co-founder and Board Chairman Nandan Nilekani in the statement. 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.

Parekh will be replacing company's interim CEO U B Pravin Rao who took charge after the resignation of Vishal Sikka, earlier this year.

According to reports, Infosys executives like UB Pravin Rao, CFO Ranganath D Mavinakere as well as Ashok Vemuri (former Americas Head and Board member at Infosys) and B G Srinivas (former Infosys President) were considered for the top job. "The Board believes that he is the right person to lead the company at this transformative time in our industry".

More news: Quentin Tarantino to release Charles Manson movie on 50th anniversary of murders

Parekh holds Masters degree in Computer Science and Mechanical Engineering from Cornell University in NY.

5- Salil joined Capgemini in 2000 after acquisition of the consulting division of Ernst and Young.

"I would like to thank Salil for his involvement in the Capgemini journey".

More news: Selena Gomez Breaks Down While Being Honored At Billboard Women In Music

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. During his seventeen years with the company, he has occupied various leadership positions in the Group. BFSI, the bread and butter for all Indian IT services companies, contributed about 33% to the company's topline for the second quarter ended September 30.

The Bengaluru-based firm had initiated the search after CEO Vishal Sikka resigned in August following a protracted acrimony between the management and the founders.

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.

More news: Chrissy Teigen Has Pan Am-Themed Birthday Party - Kim and Kanye Attend!

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

Recommended News

  • Michael Strahan 'pissed off' Giants benched Eli Manning

    Michael Strahan 'pissed off' Giants benched Eli Manning

    The Giants have had a woeful season at 2-9 and Manning has clearly not played up to his two-time Super Bowl-winning standard. Mara spoke to general manager Jerry Reese about two weeks ago and said it was time to start evaluating the backups.
    Festival of Eid-e-Milad today

    Festival of Eid-e-Milad today

    The cellular services in different parts of the country are suspended as the nation is observing Eid Milad-un-Nabi (PBUH). In his message on Twitter, Modi said "may the teachings of Prophet Mohammad further the spirit of harmony in our society".
    Two teachers held for sexually assaulting 4-year-old in Kolkata school

    Two teachers held for sexually assaulting 4-year-old in Kolkata school

    One teacher laughed and said that there is nothing to do if someone is being "mischievous", according to media reports. Reshma Basu, a teacher of a private school at Kolkata said, "The work of the teachers does not end only with studies".
  • Barbados Unveils Rihanna Drive

    Barbados Unveils Rihanna Drive

    It is the love of her country that makes her return the love with this type of honor. "I didn't know how it was going to happen". From today, in Barbados, your legacy will be reflected in the renaming of Westbury New Road, to " Rihanna Drive".
    Philip Morris International Incorporated (NYSE:PM) Just Reported Increased Shorts

    Philip Morris International Incorporated (NYSE:PM) Just Reported Increased Shorts

    Jefferies maintained Philip Morris International Inc. (NYSE:PM) has risen 16.65% since December 1, 2016 and is uptrending. Analysts, on average, seem bullish as they suggest PM is worth $20.19 more, giving a target price of $122.94 a share.

    Trending Stock Analysis: Las Vegas Sands Corp. (LVS)

    This ratio is found by taking the current share price and dividing by earnings per share. 75 are held by Lenox Wealth Management. The average Wall Street analyst rating for Las Vegas Sands Corp.is Strong Buy, according to the average of 8 analyst scores.
  • Elon Musk said when they will launch super-heavy rockets

    Elon Musk said when they will launch super-heavy rockets

    The tech billionaire seems excited about this launch as he says, "the destination is Mars orbit". Tesla Roadster is an all-electric battery-powered, four-seater sports auto prototype from Tesla.
    Guardiola regrets Redmond rant after City victory

    Guardiola regrets Redmond rant after City victory

    The can do that with me, with Nathan and with The Sun . "Players have the right to do that and I don't blame the clubs because the clubs, they try".
    Cardinals in Giancarlo Stanton trade talks

    Cardinals in Giancarlo Stanton trade talks

    Giancarlo Stanton of the Miami Marlins hits a home run against the San Francisco Giants at Marlins Park on August 15, 2017. The Cardinals and Giants are two of the teams heavily linked to Stanton in trade rumblings this offseason.
  • At North Korean hub in China, uncertainty looms for Pyongyang-backed businesses

    At North Korean hub in China, uncertainty looms for Pyongyang-backed businesses

    Mr Trump used another tweet on Thursday morning to disparage the North Korean leader and cast doubt on Chinese efforts to restrain its ally.
    Jinseok and Tim's musings on the World Cup draw

    Jinseok and Tim's musings on the World Cup draw

    Germany captain Manuel Neuer added: "We have to take each opponent very seriously, but our aim has to be topping the group". From South Korea's incredible journey to the semi-finals to Ronaldo's eight goal haul - It was definitely one to remember.

    Alibaba Group Holding Limited (NYSE:BABA) Holdings Cut by Markston International LLC

    BidaskClub upgraded Alibaba Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, August 10th. This company shares are 0.14% off its target price of $28.32 and the current market capitalization stands at $295.75B.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.