Bengaluru Dec 2 (IANS) 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.
"Parekh 52 joins Infosys from Capgemini where he was a member of the Group Executive Board " said the IT major in a statement here.
Like Infosys Capgemini is a global consulting technology and IT outsourcing firm headquartered in Paris.
Parekh a veteran in the global IT industry will be the second non-promoter executive of the $10.3 billion firm after the first non-founder executive Vishal Sikka resigned on August 18 following boardroom battles over corporate governance issues with its co-founders especially N.R. Narayana Murthy.
As Parekh takes over interim CEO and MD U.B. Pravin Rao will revert to his post as Chief Operating Officer from January 2 and continue as Director on the Board.
Parekh has Masters degrees in computer science and mechanical engineering from Cornell University in the US and is a B. Tech in aeronautical engineering from IIT-Bombay.
"We are delighted to have Salil joining as the CEO & MD. He has nearly three decades of global experience in the IT services industry " said co-founder and Board Chairman Nandan Nilekani in the statement.
Nilekani also said as Parekh had a strong track record of executing business turnarounds and managing very successful acquisitions the Board believed that he was the right person to lead the company at a transformative time in the industry.
"The Board is also grateful to Pravin Rao for his leadership during this period of transition " added Nilekani in the statement.
Nilekani returned to the company as non-executive Chairman on August 18.
Infosys Independent Director and Nomination and Remuneration Committee Chairperson Kiran Mazumdar-Shaw said Parekh was the top choice from a pool of highly qualified candidates for the top executive post.
"With his (Parekh) strong track record and extensive experience we believe we have the right person to lead Infosys " Shaw said.
The full-time CEO post has been vacant since Sikka had quit stating that he could not continue to work amid "malicious personal attacks".
The company s previous Board blamed Murthy for Sikka s dramatic resignation.
In a related development Capgemini announced in Paris that Parekh would leave the group on January 1 2018.
"Capgemini has agreed on Parekh s departure. He has relinquished his responsibilities within the group and his managerial transition is already in place " said the French company.
Parekh joined Capgemini in 2000 when it acquired the consulting division of Ernst & Young the London-based global accounting firm and occupied leadership positions in the group during his 17-year-long stint.
"I would like to thank Parekh for his involvement in the Capgemini journey and contribution to the development of the group in India and the US " said Capgemini Chairman and Chief Executive Paul Hermelin in the statement.
The Euro 12.5-billion ($14.9 billion) Capgemini is a 50-year-old firm with about 200 000 employees in 40 countries the world over.
--IANS
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