Infosys, India’s second-largest IT services firm, reappointed Salil Parekh as its chief executive officer and managing director on Sunday, effective July 1, 2022, for a five-year term ending March 31, 2027, subject to shareholder approval.
The company’s Board of Directors also approved the distribution of 104,000 shares to six important executives and 375,760 shares to 88 additional senior executives.
These Performance Stock Units will be given under the Infosys Expanded Stock Ownership Plan 2019 and will vest over the course of three years based on the attainment of specific objectives, as set forth in the plan approved by shareholders. The issuance date for these stock units will be June 1, 2022, according to the corporation.
Parekh, who has been the CEO and MD of Infosys since January 2018, has managed the business effectively for the previous four years.
He has over thirty years of global expertise in the IT services industry, with a proven track record of driving digital transformation for businesses, turning around businesses, and managing successful acquisitions.
Salil formerly served on the Group Executive Board of Capgemini for 25 years, holding several senior positions. He graduated from Cornell University with Master of Engineering degrees in Computer Science and Mechanical Engineering, as well as a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.