Lagatar24 Desk
New Delhi, May 22: Infosys Limited, India’s second-largest IT services firm, announced on Sunday that Salil Parekh has been reappointed as CEO and managing director 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. 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).
Since January 2018, Salil Parekh has been the Chief Executive Officer and Managing Director of Infosys. His reappointment is contingent on shareholder approval.
“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,” Infosys said.
According to the company, Parekh has more than thirty years of global expertise in the IT services industry, with a proven track record of driving digital transformation for businesses, executing business turnarounds, and successfully managing acquisitions.
Prior to joining Infosys, Parekh served on the Group Executive Board of Capgemini for 25 years, holding various senior positions. He was also a Partner with Ernst & Young, where he is recognised with delivering scale and value to the consultant firm’s Indian operations.
The board of directors of Infosys has also approved the distribution of 104,000 shares to six key management personnel and 375,760 shares to 88 other senior executives.
