Infosys, India's No.2 IT services company, named Salil S Parekh as chief executive on Saturday, picking an outsider for the job for a second time and handing him the twin challenges of reviving growth and forging peace between its founders and board following a public spat. Parekh, who is joining from consultancy firm Capgemini where he was a member of its group executive team, has been given a 5-year term effective Jan. 2, Infosys said in a statement.
U.B. Pravin Rao who was serving as the interim CEO has been re-designated as chief operating officer from Jan. 2, Infosys said. "He (Parekh) has nearly three decades of global experience in the IT services industry," said Infosys Chairman Nandan Nilekani. "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." Parekh, who joined Capgemini back in 2000, resigned from the Paris-based company following "recent managerial evolutions" announced in October, Capgemini said in a separate release. His departure will be effective on Jan. 1, the statement said. Parekh, who had been instrumental in expanding Capgemini's India team, had once been seen as a potential successor to Capgemini CEO Paul Hermelin.
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