Salil Satish Parekh, who lost out to Vishal Sikka the last time Infosys was hunting for a new chief executive officer in 2014, has now been tasked with leading the company a little over four months after Sikka's acrimonious exit from Infosys, with chairman Nandan Nilekani and the board of India's second largest outsourcing firm putting their faith on a technology industry veteran of almost three decades.
Nilekani has also since said that he is convinced that Sikka and Seshasayee did no wrong in running Infosys. Following the exit of Sikka, Infosys Ltd had begun a search for a new CEO while bringing back former CEO Nandan Nilekani as the Executive Chairman of the reconstituted Board of the company and appointing Chief Operating Officer (COO) Pravin Rao as the interim CEO.
Sanchit Vir Gogia, CEO and Chief Analyst at Greyhound Research said that Salil is a great choice, with a great hold on the yesterday, today and tomorrow of the business.
Infosys chairman Nandan Nilekani said the board was delighted to have Parekh joining the organisation.
Nilekani returned to the company as non-executive Chairman on August 18. For the executive search, Infosys cast a wide net to include alumni, internal and external candidates in the global search for the lead role.
Parekh, who had been a member of Capgemini's group executive board (equivalent to a deputy CEO's post), was the CEO of the company's financial services business across Europe, North America and Asia.
"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 U.S.", said Capgemini Chairman and Chief Executive Paul Hermelin in the statement.
Parekh, who is now based out of Mumbai, will relocate to Bengaluru, which houses Infosys's headquarters.
"Salil has relinquished his responsibilities within the Group and his managerial transition is already in place". His departure from Capgemini will be effective on January 1st.
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. He has been given a 5-year term.
Parekh, joined Capgemini in 2000 after the company bought the consulting arm of Ernst and Young. He lists his current position at Capgemini as CEO for United Kingdom, north America and Asia by markets and for global financial services, by vertical, on LinkedIn. "With his strong track record and extensive experience, we believe we have the right person to lead Infosys", said Kiran Mazumdar Shaw, Chairperson of the Nomination and Remuneration Committee in the Infosys Board.
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