Wednesday, June 29, 2022
-Advertisement-
-Advertisement-
Tech ObserverNewsIndustryInfosys extends tenure of Salil Parekh as CEO & Managing Director for 5 years

Infosys extends tenure of Salil Parekh as CEO & Managing Director for 5 years

The decision regarding the reappointment was taken in the meeting of the company's Board of Directors held on May 21, 2022.

The decision regarding the reappointment was taken in the meeting of the company's Board of Directors held on May 21, 2022.

Indian technology major Limited has announced to reappoint Salil Parekh as its chief executive officer (CEO) and managing director (MD) for a five-year term ending March 2027.

According to the company, the decision regarding the reappointment was taken in the meeting of the company’s Board of Directors held on May 21, 2022. The board took the decision based on the recommendations of the Nomination and Remuneration Committee (NRC) of the company, Infosys Limited said in a regulatory filing to the stock exchanges.

Salil Parekh has been the Chief Executive Officer and Managing Director of Infosys since January 2018. His reappointment is subject to the approval of shareholders.

“It may 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 Chief Executive Officer and Managing Director under applicable laws including circulars issued by stock exchanges from time to time,” Infosys said.

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, the company said.

Before his appointment to Infosys, Parekh was a member of the Group Executive Board at Capgemini, where he held several leadership positions for 25 years. He also served as a Partner at and is widely credited for bringing scale and value to the Indian operations of the consultancy firm.

Infosys board of directors has also approved a grant of 104,000 shares to six key management personnel and another 375,760 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 date of the grant for these stock units shall be June 1, 2022, Infosys informed the stock exchanges.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

- Advertisement -

Your Comment on this Story

Comments

Share on activity feed

Powered by WP LinkPress

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our Newsletter

83000+ Industry Leaders read it everyday

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
- Advertisement -ESDS SAP HANA Community Cloud
- Advertisement -Digital Senate 2022

RELATED ARTICLES

- Advertisement -