Infosys Appoints Salil S. Parekh as CEO and Managing Director
Infosys Appoints Salil S. Parekh as CEO and Managing Director
PR71352
BANGALORE, India, Dec. 2, 2017 /PRNewswire=KYODO JBN/--
Infosys announced today 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.
(Logo: http://mma.prnewswire.com/media/610722/Infosys_Logo.jpg )
Commenting on the appointment of Mr. Parekh, Mr. Nandan Nilekani, Chairman of
the Board said, "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."
Ms. Kiran Mazumdar-Shaw, Chairperson of the Nomination & Remuneration
Committee, stated, "After a comprehensive global search effort, we are pleased
to appoint Salil as the CEO & MD. He was the top choice from a pool of highly
qualified candidates. With his strong track record and extensive experience,
we believe, we have the right person to lead Infosys."
Mr. Parekh joins Infosys from Capgemini where he was a member of the Group
Executive Board. 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.
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 Infosys
Infosys is a global leader in technology services and consulting. We enable
clients in 45 countries to create and execute strategies for their digital
transformation. From engineering to application development, knowledge
management and business process management, we help our clients find the right
problems to solve, and to solve these effectively. Our team of 198,000+
innovators, across the globe, is differentiated by the imagination, knowledge
and experience, across industries and technologies that we bring to every
project we undertake.
Visit http://www.infosys.com to see how Infosys (NYSE: INFY) can help your
enterprise thrive in the digital age.
Safe Harbor
Certain statements in this press release concerning our future growth prospects
are forward-looking statements regarding our future business expectations
intended to qualify for the 'safe harbor' under the Private Securities
Litigation Reform Act of 1995, which involve a number of risks and
uncertainties that could cause actual results to differ materially from those
in such forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and uncertainties
regarding fluctuations in earnings, fluctuations in foreign exchange rates, our
ability to manage growth, intense competition in IT services including those
factors which may affect our cost advantage, wage increases in India, our
ability to attract and retain highly skilled professionals, time and cost
overruns on fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our ability to
manage our international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks or system failures, our
ability to successfully complete and integrate potential acquisitions,
liability for damages on our service contracts, the success of the companies in
which Infosys has made strategic investments, withdrawal or expiration of
governmental fiscal incentives, political instability and regional conflicts,
legal restrictions on raising capital or acquiring companies outside India, and
unauthorized use of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our future operating
results are more fully described in our United States Securities and Exchange
Commission filings including our Annual Report on Form 20-F for the fiscal year
ended March 31, 2017. These filings are available at http://www.sec.gov.
Infosys may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the company's
filings with the Securities and Exchange Commission and our reports to
shareholders. In addition, please note that any forward-looking statements
contained herein are based on assumptions that we believe to be reasonable as
of the date of this press release. The company does not undertake to update any
forward-looking statements that may be made from time to time by or on behalf
of the company unless it is required by law.
Media contacts:
Asia Pacific
Sarah Gideon
Infosys, India
+91-80-4156-3998
Sarah_Gideon@infosys.com
EMEA
Margherita Di Cerbo
Infosys, Europe
+44(0)2075162748
Margherita.DiCerbo@infosys.com
Americas
Chiku Somaiya
Infosys, USA
+1-408-375-2722
Chiku.Somaiya@infosys.com
Source: Infosys
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