Infosys reappoints Salil Parekh as CEO till March 2027

BENGALURU: IT major Infosys has announced the reappointment of Salil Parekh as chief executive officer and managing director of the company from July 2022 to March 2027.

Parekh took over as the CEO of the second-largest IT firm in India in 2018 and has led the company over the last four years. He has over 30 years of experience in the IT services industry with a track record of driving digital transformation for enterprises, executing business turnarounds and managing successful acquisitions.

Earlier, Parekh 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.

Parekh, 57, holds a Master of Engineering degree in Computer Science and Mechanical Engineering degree from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.

In FY22, the company recorded the fastest growth in a decade with revenues of Rs 1,21,641 crore, an increase of 21.1% compared to the previous year.

As per the FY21 annual report, the CEO draws Rs 49.68 crore as remuneration. Infosys has also announced that the board has approved a grant of 1,04,000 shares to six key management personnel and another 3,75,760 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 company said in its filings.