India’s number two information technology company, Infosys, has finally made an announcement about its new CEO. For the second time in its history, Infosys has picked an outsider to lead them. Salil S Parekh has been given the daunting task of reviving growth in the organization, and maintaining peace between its founders and the board after a public spat caused chaos between the two groups.
Parekh comes from consultancy firm Capgemini, where he was a part of the executive team. At Infosys, he has been given a 5-year term, which will start from January 2. Interim CEO U.B. Pravin Rao has been posted as the Chief Operating Officer of the company, starting Jan 2.
Speaking on this new development, Chairman Nandan Nilekani said, “Parekh 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.”
Nilekani further added, “The board believes that he is the right person to lead Infosys at this transformative time in our industry.”
Parekh joined Capgemini back in 2000 and resigned from the company after some managerial evolutions. His exit from Capgemini is scheduled on 1st January. Parekh has demonstrated strong capability in expanding the India team of Capgemini. At one point, he was a potential successor to Capgemini CEO Paul Hermelin.
The position opened after former CEO Vishal Sikka announced a sudden exit after a prolonged public spat with the founders headed by Mr. Narayana Murthy. Their disagreements were on corporate governance and strategic mistakes. This exit created a management change, where Nandan Nilekani, Co-Founder and former CEO returned as a non-executive chairman.