Infosys's new CEO joins from Capgemini

Infosys has appointed ex-Capgemini executive board member Salil S Parekh as its new CEO and MD.

Parekh will replace U B Pravin Rao, who has been serving as interim CEO and MD, from 2 January 2018. Rao will continue in his role of COO and director.

"We are delighted to have Salil joining as the CEO & MD of Infosys," Infosys' chairman of the board Nandan Nilekani said. "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. The Board is also grateful to Pravin for his leadership during this period of transition."

Parekh spent 25 years at Capgemini in various positions, including CEO of the company's global financial services division in the UK, North America and Asia. Before that, he was a partner at Ernst & Young for seven years. Although his previous roles are mainly in the finance space, he studied for a masters degree in Computer Science and Mechanical Engineering at Cornell University.

"After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD," Kiran Mazumdar-Shaw, chairwoman of the nomination and remuneration committee, said. "He was the top choice from a pool of highly qualified candidates. With his strong track record and extensive experience, we believe, we have the right person to lead Infosys.”