Infosys reappoints Salil Parekh as CEO and MD for the next 5 years

India’s second-largest IT services company Infosys on Sunday reappointed Salil Parekh as it’s chief executive officer and managing director from July 1, 2022, for a period of five years until March 31, 2027, subject to shareholders’ approval.

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.

These Performance Stock Units will be granted under the Infosys Expanded Stock Ownership Plan 2019, and will vest over 3 years on the achievement of certain milestones, in line with the plan approved by shareholders. The date of the grant for these stock units shall be June 1, 2022, the company said.

Parekh, 57, the CEO & MD of Infosys since January 2018, has successfully led the company in the past 4 years.

He 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.

Earlier, Salil was a member of the Group Executive Board at Capgemini, where he held several leadership positions for 25 years. He holds Master of Engineering degrees 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.

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