India’s second-largest IT services firm, Infosys has announced that Salil Parekh has been re-appointed as CEO and MD for a five-year term ending in March 2027.
The decision was made by the company’s Board of Directors during its meeting on May 21, 2022. Salil Parekh has been the Chief Executive Officer and Managing Director of Infosys since January 2018.
Infosys said in a statement, “It may be noted that Salil Parekh has no relationship with any member of the Board of directors and meets all the criteria to be reappointed as Chief Executive Officer and Managing Director under applicable laws including circulars issued by stock exchanges from time to time.”
Salil has more than 30 years 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.
He has a proven track record of driving digital transformation for businesses, executing business turnarounds, and successfully managing acquisitions.
Prior to joining Infosys, Salil served on the Group Executive Board of Capgemini for 25 years, holding various senior positions, and earlier he was also a Partner with Ernst & Young.
Salil 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 Limited said in a regulatory filing to the stock exchanges that the board made the decision based on the recommendations of the company’s Nomination and Remuneration Committee (NRC).
The company also announced that to ensure continuity and commitment of the leadership of the organization for driving the growth journey over the next few years.
The Board of Directors of the company also approved a grant of 104,000 shares to six key management personnel and another 375,760 shares to 88 other senior executives.
