Infosys Names Parekh CEO as the Company’s Search Comes to an End

Salil S. Parekh is named Infosys Chief Executive Officer, ending the company’s hunt after the previous CEO, Vishal Sikka, resigned, following criticism from a number of founders.

Sikka stormed out last August after clashing with company founders who had been running the company for three decades. The Indian software-outsourcing giant has been working to keep up with rapidly changing technologies as well as updating from simple, hourly activities to more complex areas to withstand the shift to automation, such as digital services.

Parekh has been brought in to help the company make this transition.

A member of the executive board at Capgemini SE with degrees from the Indian Institute of Technology and Cornell University in the U.S., Parekh has been appointed CEO and Managing Director for a five-year term starting immediately after the new year, Infosys said in a statement on Saturday.

Current Chairman, Nandan Nilekani said Parekh “has a strong track record of executing business turnarounds and managing very successful acquisitions.” With over 30 years of experience in the global IT services industry, Parekh may be the change Infosys desperately needs following this period of instability.

Source: Bloomberg, BSE India