Salil S Parekh to take charge as Infosys CEO and MD from January 2

WION Web Team
New Delhi, Delhi, IndiaUpdated: Dec 02, 2017, 11:45 AM IST

The news of bias existing in the IT industry is not new. Photograph:(Reuters)

Infosys has announced the appointment of Salil S Parekh as the company's new chief executive.

His appointment as the new CEO and MD will be effective from January 2, 2018. 

He has been given a term of five years. 

The announcement was made by Kiran Mazumdar-Shaw, the chairperson of the nomination and remuneration committee at the IT company.

He said that Parekh was the top choice from a pool of highly qualified candidates. "His strong track record and extensive experience"  has made him the new leader at Infosys. 

Parekh has a masters degree in Computer Science and Mechanical Engineering from Cornell University. He did his Bachelor in Aeronautical Engineering from the Indian Institute of Technology, Bombay.

Chairman Infosys' board, Nandan Nilekani in a filing on the Bombay Stock Exchange said "We are delighted to have Salil joining as the CEO and 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,"

Parekh will replace U B Pravin Rao.

Rao has been re-designated as chief operating officer from January 2. 

Rao was serving as the interim CEO after the former CEO Vishal Sikka's sudden exit in August. 

Vishal Sikka announced his sudden exit from the company after a drawn-out public spat with the company's founder-Narayan Murthy. 

Infosys has been caught in a nasty exchange between its board and founders led by N R Narayana Murthy.

The board had blamed Murthy for the exit of Vishal Sikka.

After the exit of Sikka , Infosys has appointed Nandan Nilekani as its non-executive chairman.

This is the second time that the IT Company has appointed an outsider for the job. 

Sikka was the first outsider to be appointed as the CEO of the Indian multinational company.