MOSL: INFOSYS (Buy)- New era Take#2-Appoints CapGemini’s Salil Parekh as CEO and MD
Infosys: New era Take#2; Appoints CapGemini’s Salil Parekh as CEO and MD
(INFO IN, Mkt Cap USD34.1b, CMP INR960, TP INR1100, 15% Upside, Buy)
The event
Infosys announced over the weekend that its Board of Directors has appointed Salil S. Parekh as Chief Executive Officer and Managing Director (CEO & MD) of the Company effective January 2, 2018. Mr. Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board.
Mr. U B Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time Director of the Company.
About Salil Parekh
- ​Mr. Parekh had been with Capgemini India for over a decade & a half, starting with Ernst & Young in 1992 and was part of the consulting business that was acquired by Capgemini in 2000.
- Mr. Parekh was responsible for overseeing a business cluster comprising Application Services (North America, UK, Asia), Cloud Infrastructure Services, and Sogeti (Technology & Engineering Services Division). He was also the Chairman of the company’s North America Executive Council.
- He leveraged Digital and Cloud services to drive transformation for clients. He was responsible for the strategy and execution for the Cloud business - setting its direction and enabling its rapid adoption at clients. He was also the architect of the North America growth and turnaround, and was instrumental in setting up their off-shoring capabilities.
- He has 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.
Infosys is a global technology services company based in India. Co. provides business consulting, technology, engineering and outsourcing services. Co.'s end-to-end business solutions include: Consulting and Systems Integration - consulting, enterprise solutions, systems integration and advanced technologies; Business IT Services - application development and maintenance, independent validation services, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; and Products, business platforms and solutions, including Finacle™, which addresses core banking, mobile banking and e-banking needs of banks worldwide.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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