India’s second-largest IT services company, Infosys Limited, has reappointed Salil Parekh as its chief executive officer (CEO) and managing director (MD) for a five-year term ending March 2027.
The decision was taken in the meeting of the company’s Board of Directors held on May 21, 2022. The board took the decision based on the recommendations of the Nomination and Remuneration Committee (NRC) of the company, Infosys Limited said in a regulatory filing to the stock exchanges.
Parekh has been the Chief Executive Officer and Managing Director of Infosys since January 2018. He has nearly three decades of global experience in the IT services industry with a strong track record of driving digital transformation for enterprises, executing business turnarounds and managing successful acquisitions.
Before his appointment to Infosys, Parekh was a member of the Group Executive Board at Capgemini, where he held several leadership positions for 25 years. He also served as a Partner at Ernst & Young and is widely credited for bringing scale and value to the Indian operations of the consultancy firm.
He is also a member of the National Council of the Confederation of Indian Industry (CII).
Parekh holds a Master of Engineering degree in Computer Science and Mechanical Engineering from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology Bombay.
Infosys also approved 1,04,000 shares to six key management personnel and another 3,75,760 shares to 88 other senior executives. Giving the rationale behind the move, the company said that it is being done “to ensure continuity and commitment of the leadership of the organisation for driving the growth journey over the next few years”.
This move is also seen as a bid to retain top leadership amidst the ongoing talent war in major IT firms.