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Is Salil Parekh second-time lucky?

04 December, 2017, 00:20 | Author: Paula Vaughn
  • Salil S Parekh

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.

Parekh had been previously associated with Capgemini for 25 years and was till recently a member of the Group Executive Board. He has been with the company for 17 years and also a member of its executive committee.

Non-executive chairman of the Bengaluru-based IT major, Nandan Nilekani said, "We are delighted to have Salil joining as the CEO & MD of Infosys".

"Salil's eminence and grooming in India will be a strong advantage to establish the right face to the Infosys brand, in addition to his experience of working across global cultures", he said.

The new Infy CEO has a strong track record of executing business turnarounds and managing very successful acquisitions.

According to media reports, advisory arm Everest Group chief executive Peter Bendor-Samuel said in 2015 that Capgemini achieved vastly greater growth under Parekh than had been expected.

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1- Parekh has a Bachelor of Technology (B.Tech.) degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay (IIT-B) which he completed in 1986.

This time round co-founder Nandan M. Nilekani was recalled, a week after Sikka's resignation, to run the company as non-executive chairman and find a new CEO.

Back in 2014, when Infosys was hunting for a new CEO, Parekh lost to Vishal Sikka. "Salil contributed in particular to the development of the Group in India and in the US", Capgemini CEO and chairman Paul Hermelin said in a statement.

Infosys will also hope that Parekh's background in the financial services industry throughout his career will help it garner more deals in the BFSI sector across Europe and North America. In fact, he was one of Capgemini's five deputy CEOs, and was responsible for a number of businesses that reportedly accounted for 45 percent of the company's revenue.

Parekh started his career with Ernst & Young in the year 1992 as a Partner. "The board is also grateful to Pravin for his leadership during this period of transition", Nilekani added. UB Pravin Rao, who was filling in the CEO role on interim basis, will now continue as Chief Operating Officer and a whole-time Director of the company, Infosys said in a statement.

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