Infosys surprised everybody over the weekend with the appointment of an external CEO over and above the internal candidates.
The company’s official statement is below.
Infosys announced today that its Board of Directors has appointed Salil S. Parekh as Chief Executive Officer and Managing Director (CEO & MD) of the Company effective January 2, 2018.
Commenting on the appointment of Mr. Parekh, Mr. Nandan Nilekani, Chairman of the Board said, “We are delighted to have Salil joining as the CEO & MD of Infosys. He has nearly three decades of global experience in the IT services industry. He has a strong track record of executing business turnarounds and managing very successful acquisitions. The Board believes that he is the right person to lead Infosys at this transformative time in our industry. The Board is also grateful to Pravin for his leadership during this period of transition.”
Ms. Kiran Mazumdar-Shaw, Chairperson of the Nomination & Remuneration Committee, stated, “After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD. He was the top choice from a pool of highly qualified candidates. With his strong track record and extensive experience, we believe, we have the right person to lead Infosys.”
Mr. Parekh joins Infosys from Cap Gemini where he was a member of the Group Executive Board. He has Master of Engineering degrees in Computer Science and Mechanical Engineering from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.
Mr. U B Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time Director of the Company.