Mr. Parekh has over thirty years of global experience in the IT services industry and a track record of driving digital transformation for enterprises.
Mr. Parekh has over thirty years of global experience in the IT services industry and a track record of driving digital transformation for enterprises.
According to a regulatory filing, the board of IT services major Infosys has approved the reappointment of Salil Parekh as the company’s chief executive officer (CEO) and managing director of the company till March 31, 2027.
It is based on the recommendations of the Nomination and Remuneration Committee (NRC) and is subject to the approval of the shareholders.
“The Board of Directors, in its meeting held on May 21, 2022, has approved the reappointment of Salil Parekh as the Chief Executive Officer and Managing Director of the Company with effect from July 1, 2022, based on the recommendations of the Nomination and Remuneration Committee (NRC) . March 31, 2027, subject to the approval of the shareholders,” the BSE filing said.
Mr. Parekh is the Chief Executive Officer and Managing Director of Infosys since January 2018. He has over thirty years of global experience in the IT services industry, driving digital transformation for enterprises, driving business transformation, and managing successful acquisitions.
Infosys in the filing further said that to ensure the continuity and commitment of the organization’s leadership to drive the growth journey over the next few years, the NRC has approved the grant of 104,000 shares to 6 KMPs (Key Managerial Personnel) and others. 375,760 shares to 88 other senior officers of the organization.
“These performance stock units will be awarded under the Infosys Extended Stock Ownership Plan 2019, and will be invested over three years on achievement of certain milestones in line with the plan approved by the shareholders,” the company said.
The grant date for these performance stock units will be June 1, 2022.