Homegrown software firm Infosys, on Sunday, announced that its Board of Directors has reappointed Salil Parekh as Chief Executive Officer and Managing Director of the Company from July 1, 2022, to March 31, 2027.
Infosys, in a public statement to BSE, said, “Reappointment of Salil Parekh (DIN: 01876159) as Chief Executive Officer and Managing Director of the Company from July 1, 2022, to March 31, 2027, subject to the approval of shareholders.”
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, 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.
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.
In addition to this, the company also stated, “To ensure continuity and commitment of the leadership of the organisation for driving the growth journey over the next few years, the NRC has approved a grant of 104,000 shares to 6 KMPs and another 375,760 shares to 88 other senior executives of the organisation.”
It further added, “These Performance Stock Units (‘PSU’s’) 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 PSU’s shall be June 1, 2022.”
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