Infosys appoints Salil Parekh as CEO

Bengaluru: Indian software-outsourcing giant Infosys Ltd appointed outsider Salil S Parekh as chief executive officer, ending the company’s search for a new leader after previous head Vishal Sikka quit following strident criticism from a group of founders, landing it in uncertainty.

Parekh, a senior executive at Capgemini SE with degrees from the Indian Institute of Technology and Cornell University in the US, has been appointed CEO and managing director for a five-year term that starts on January 2, Infosys said in a statement on Saturday. Sikka had walked out in August after clashing with founders, led by former chairman Narayana Murthy, who had run it for three decades.

Infosys is also being buffeted by changing technologies, and needs to switch from basic paid-by-the-hour activities like building software systems, which are fast getting automated, to higher-margin areas like digital services.

Current chairman Nandan Nilekani said Parekh “has a strong track record of executing business turnarounds and managing very successful acquisitions,” backed up by 30 years of experience in the global IT services industry.