Infosys names Capgemini's Salil S. Parekh as CEO after Vishal Sikka clash

Parekh an IIT Bombay and Cornell University alumnus has been the Head of Asia-Pacific North America

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.

I am happy Infosys has appointed Salil Parekh as CEO.

"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.

Related:

  • Xiaomi India giving Rs. 500crore gift to Redmi 5A buyers!

    Xiaomi India giving Rs. 500crore gift to Redmi 5A buyers!

    Xiaomi Redmi 5A was launched in India on 30th November with a tagine which would lure anyone towards it, " Desh Ka SmartPhone ". Under Xiaomi-Jio Better Together Offer , customers get Redmi 5A 2GB effectively at Rs. 3,999 and the 3GB variant at Rs. 5,999.
    SC State's Tyvoris Solomon revived after collapsing on bench

    SC State's Tyvoris Solomon revived after collapsing on bench

    According to reports, the game is expected to continue after the South Carolina State players voted in favor of playing the game. The focus quickly shifted to South Carolina State's bench area, however, as emergency medical personnel rushed to the area.

    A Technical Perspective on Ford Motor Co. (F)

    The stock has a market capitalization of $61,205.38, a price-to-earnings ratio of 6.96, a P/E/G ratio of 0.75 and a beta of 1.55. The figure allows investors to understand how effectively Ford Motor Company is able to convert its money into net income.
  • Yankees tab Aaron Boone as next manager

    Yankees tab Aaron Boone as next manager

    Bob Boone's father, Ray, was a two-time All-Star third baseman for Detroit in the mid-1950s during a 13-year playing career. Of course, Red Sox fans remember Boone for his iconic walk-off homer to send the Yankees to the World Series in 2003.
    IPhone crashing? Widespread iOS date bug wreaks havoc on December 2

    IPhone crashing? Widespread iOS date bug wreaks havoc on December 2

    In a case, if you already don't know about it, Respringing occurs when the iPhone essentially goes through a soft reboot. When those devices launched, they were limited to charging at 5W, which was the same charge rating as the wired charger.
    Dry weekend with colder air on the way

    Dry weekend with colder air on the way

    For both Saturday and Sunday we should continue to see a mix of sun and clouds with highs generally in the upper 60s to lower 70s. With this pattern setting up, the colder than normal air will give us better chances for snowflakes out through Christmas.
  • Yemen's deadly civil war takes an unexpected turn

    Yemen's deadly civil war takes an unexpected turn

    The war in Yemen, the poorest country of the Arab world, is one of the biggest humanitarian disasters of our times. Saudi Arabia has been locked in a fight with the Houthi rebels since it joined the Yemen war in 2015.

    Walt Disney (NYSE:DIS) Upgraded at Zacks Investment Research

    Walt Disney accounts for about 2.5% of PICTET BANK & TRUST Ltd's investment portfolio, making the stock its 12th largest position. Taking a wider perspective, shares have been recently trading -9.35% off the 52-week high and 9.41% away from the 52-week low.
    Trump reportedly says government shutdown might be good for him

    Trump reportedly says government shutdown might be good for him

    Schumer and Pelosi going on national TV to announce "We want a government shutdown" might not even get it done. This plan would require House lawmakers to stick around Washington past their original departure date.
  • Leclerc 'very happy' to get Alfa Romeo Sauber race seat in 2018

    Leclerc 'very happy' to get Alfa Romeo Sauber race seat in 2018

    Meanwhile, Sweden 's Marcus Ericcson stays in the lineup despite failing to score a point in 2017. Instead, the Italian will be Sauber's third driver, effectively meaning he is in a reserve role.
    The Coca (KO) Holder Bb&T Corp Has Increased Position by $3.47 Million

    The Coca (KO) Holder Bb&T Corp Has Increased Position by $3.47 Million

    The PEG for Coca-Cola European Partners plc is gauging a 1.54, signposting the future growth of the company's earnings. Following the transaction, the insider now owns 320,013 shares in the company, valued at approximately $14,749,399.17.
    Donald Trump singles out Ireland in tax speech

    Donald Trump singles out Ireland in tax speech

    But political and procedural stumbling blocks remain as Republicans try to clear their bill through the full Senate. A December 8 deadline is looming for passing a spending measure needed to prevent a shutdown.

Comments

Other news