New Delhi: India’s second largest software firm Infosys on Sunday announced that its Board of Directors has reappointed Salil S. Parekh as Chief Executive Officer and Managing Director (CEO & MD) of the Company effective from July 1, 2022 for a period of five years till to March 31, 2027, subject to the approval of shareholders.
In a filing to exchanges on May 22, the company said, “The board in a meeting on May 21 approved the reappointment of Parekh subject to the approval of shareholders.” He is 58.
Salil Parekh has been the Chief Executive Officer and Managing Director of Infosys since January 2018 and has successfully led the Company over the last 4 years.
Parekh has more than thirty 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.
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.
Parekh, earlier, was a member of the Group Executive Board at Capgemini, where he held several leadership positions for 25 years. He was also a Partner at Ernst & Young and is widely credited for bringing scale and value to the Indian operations of the consultancy firm.
Further, the board also approved a grant of 104,000 shares to six key management personnel and another 375,760 shares to 88 other senior executives in a bid to retain leadership amid a war for tech talent. These performance stock units will be granted under the Infosys Expanded Stock Ownership Plan 2019, and will vest over three years on achievement of milestones, in line with the plan approved by shareholders. The date of the grant for these PSU’s shall be June 1, 2022.