Salil Parekh is new CEO and MD of Infosys

Wednesday 06th December 2017 06:34 EST

Following months of stress, turmoil, and billions of dollars in shareholder value destruction, Infosys has finally named a new CEO, Capgemini's Salil Parekh. After its tragic stint with Vishal Sikka, the company now hopes for a new start with the 53 year old Parekh to lead the country's second-largest IT services firm.

A member of Capgemini's group executive board, Parekh was the CEO of the company's financial services business across Europe, North America and Asia. He was associated with the company for 17 years. Infosys chairman Nandan Nilekani released a statement saying, “We are delighted to have Salil joining as the CEO & MD of Infosys. He has nearly three decades of global experience in the IT services industry. He has 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.”

Even company founder-chairman, Narayana Murthy endorsed Parekh, saying, “I am happy that Infosys has appointed Salil Parekh as the CEO. My best wishes to him.”

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