Outsourcer Infosys has hired an ex-Capgemini executive to lead the firm after former CEO Vishal Sikka dramatically stepped down in August.
Salil Parekh will begin his tenure as the Indian giant’s new CEO on 2 January, replacing interim CEO Pravin Rao who will go back to being a COO.
Parekh has nearly three decades of global experience in the IT services industry, and 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, the company said.
Infosys claims it underwent a “comprehensive global search effort” for the firm’s new leader, claiming that Parekh was the top choice from a pool of “highly qualified” candidates.
The new chief exec spent more than 25 years at Capgemini where he served as CEO of global financial services and held a place on the firm’s executive board.
In August, reports emerged that Infosys’ founder had led a boardroom coup which saw CEO Sikka and three board members abruptly depart from the firm. At the time, Sikka claimed that he had been victim of “unrelenting, baseless, malicious and increasingly personal attacks” from founder Narayana Murthy.
Parekh’s priority will be “business continuity without rocking the boat,” The feud between Sikka and the founders, with N R Narayana Murthy in particular, has left a sour taste in investor and clients’ mouths.
Parekh needs to repair the dented confidence while keeping the founders, who own about 12 per cent of the company, in good humour. He has already received a thumbs up from Murthy as he said after the appointment, “I’m happy that Infosys has appointed Salil Parekh as the CEO. My best wishes to him.”
