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Analysts hail appointment of Salil Parekh as Infosys' MD & CEO

Press Trust of India  |  Mumbai 

Analysts today welcomed the appointment of Salil Parekh as the managing director and chief executive at country's second largest software exporter Infosys, which has been struggling with leadership issues.

They said Parekh, who joins from French outsourcing major Capgemini, has a challenging job ahead but his association with technology companies with a strong perception on the emerging area of technologies is a positive.


"Parekh is yet to give his colour to story from here on, we believe that Mr. Parekh looks like a sensible choice for the job," domestic brokerage Angel Broking said in a report.

It said his tenure at Capgemini, and with others having a strong perception will be "useful".

Its peer Motilal Oswal also pointed to his association with companies with a better perception, like Accenture, and as a plus.

"Parekh has a strong technology background and rich IT services experience, and is unlikely to feel out of place in his new role," it said, also welcoming the timely appointment.

The 53-year-old was appointed for a five-year term starting January 2 next year by a board that is now led by co-founder Nandan Nilekani.

The announcement was made on Saturday. Speaking of the possible challenges for Parekh, Motilal Oswal flagged the spare of senior level exits in the company in the wake of leadership appointments in the past.

"Under the scanner would be leaders who were internal candidates for the role," it said.

It also said that this is Parekh's biggest assignment as he comes from a services mainstay and led many small and big business units.

It is a transformative time for the industry and "nothing is given", it warned.

The company scrip closed the session 2.80 per cent up at Rs 985.30 a piece on the BSE, as against 0.11 per cent gains on the benchmark.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 04 2017. 16:25 IST
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