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Infosys Board of Directors Appoints Salil Parekh Again as CEO and Physician for Next 5 Years

IT services company Infosys Limited has reappointed Salil Parekh as its managing director and chief executive for the next five years until March 2027, ANI reported.

The company’s board met on May 21, when it made the decision, based on recommendations from the company’s Nomination and Remuneration Committee (NRC), Infosys said in a filing. stock exchange regulations.

Parekh has served as Managing Director and CEO of Infosys since January 2018. His reappointment would be subject to shareholder approval.

“It should 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 Managing Director and Managing Director under applicable laws, including circulars issued by the exchanges from time to time”, ANI quoted Infosys as saying.

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Parekh has more than 30 years of experience in the IT services industry globally, the company said, adding that he has experience driving digital business transformation, executing turnarounds business as well as the management of successful acquisitions.

Parekh was a member of the Management Board of the Capgemini group, where he held numerous management positions for 25 years, before his appointment at Infosys. He also worked at Ernst & young as a partner and is widely credited with bringing value and scale to the consultancy firm’s Indian operations.

Infosys’ board also approved a grant of 104,000 shares to six key executives and another 375,760 shares to 88 other senior executives, ANI reported.

These performance share units will be granted under Infosys’ 2019 expanded stock ownership plan and will vest over three years upon the achievement of certain milestones, in accordance with the plan approved by shareholders. The grant date for these share units will be June 1, 2022, Infosys informed the exchanges, ANI reported.

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