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Friday / December 15.

Infosys names Capgemini’s Parekh as CEO after boardroom tussle


Parekh is a senior executive at Capgemini SE with degrees from the Indian Institute of Technology and Cornell University in the US

Bengaluru: Indian software-outsourcing giant Infosys Ltd named outsider Salil S Parekh as chief executive officer, ending the company’s search for a new leader after previous head Vishal Sikka quit following strident criticism from a group of founders, landing it in uncertainty.

Parekh, a senior executive at Capgemini SE with degrees from the Indian Institute of Technology and Cornell University in the US, has been appointed CEO and managing director for a five-year term that starts on January 2, Bengaluru-based Infosys said in a statement Saturday.

Sikka had walked out in August after clashing with founders, led by former chairman Narayana Murthy, who had run it for three decades. Infosys is also being buffeted by changing technologies, and needs to switch from basic paid-by-the-hour activities like building software systems, which are fast getting automated, to higher-margin areas like digital services.

Current Chairman Nandan Nilekani said Parekh “has a strong track record of executing business turnarounds and managing very successful acquisitions,” backed up by 30 years of experience in the global IT services industry.

Nilekani, the co-founder of Infosys, had returned as chairman after Sikka’s exit and recast the board, soothing investor and employee concerns and bringing a degree of stability to the company.

Pravin Rao, who had stepped in as interim chief, will become chief operating officer and whole time director.



via GN