Infosys gains nearly 3% on BSE Sensex after Salil Parekh named new CEO

Key Highlights

• Infosys shares opened 2.76% higher on BSE Sensex.
• They were trading nearly 2% higher on Nifty 50.
• Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board for over a decade.

Indian IT major, Infosys opened higher on key equity indices this Monday morning after it named Salil Parekh the new CEO of the company.

The company’s shares opened 2.76% or 26.50 point higher at Rs 985 apiece on BSE Sensex. Its shares were trading 1.96% or 18.75 points up on Nifty 50.

“We are delighted to have Salil joining as the CEO & MD of Infosys. He has nearly three decades of global experience in the IT services industry. He has a strong track record of executing business turnarounds and managing very successful acquisitions. The Board believes that he is the right person to lead Infosys at this transformative time in our industry. The Board is also grateful to Pravin for his leadership during this period of transition,” said Nandan Nilekani, Chairman of the Board.

Shares of the company were trading 1.83% or 17.50 points higher at Rs 976 per share at 0920 hours on Sensex.

Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board. He was with the company for over a decade.

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.

U B Pravin Rao, the interim CEO and Managing Director, will step down effective January 2, 2018, the company said. He will continue as Chief Operating Officer and a whole-time Director of the Company.

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