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Parekh joins Infosys from Capgemini, where he was a member of the Group Executive Board. He has been with the company for 17 years and also a member of its executive committee.

Nandan Nilekani, Chairman of Infosys' board, said "We are delighted to have Salil Parekh to joining as the CEO & MD of Infosys Company". With over 30 years of global experience in the IT services industry, Parekh's strong track record of executing business turnarounds and managing successful acquisitions has always been a talking point among his peers.

"In Salil I believe they have found an executive committed to building the next generation of Indian services, who both understands and appreciates all that an Indian talent base can offer while broadening the global talent base and leading Infosys into a becoming a digital transformation leader", he added.

Parekh started his career with Ernst & Young in the year 1992 as a Partner.

The appointment of Parekh, who was a top executive at global IT services giant Capgemini prior to his latest assignment, marks the second successive time that Infosys has chosen a rank outsider to helm the company, after being run by its founders for the better part of its first three decades of existence.

Murthy, along with some former Infosys executives, had alleged serious corporate governance lapses and questioned the high severance packages paid to ex-CFO and others.

Parekh will take over from UB Pravin Rao, who was appointed interim MD and CEO in August after Vishal Sikka's resignation.

The Bengaluru-based firm had initiated the search after CEO Vishal Sikka resigned in August following a protracted acrimony between the management and the founders.The year-long spat between the high-profile founders like NR Narayana Murthy and the Infosys management, saw Sikka quitting in August.

Salil S. Parekh will be the sixth CEO of Infosys.

Interestingly on Saturday, Capgemini put out a separate press release, saying that Parekh "decided to leave the Group in the context of the recent managerial evolutions communicated in October".

Nilekani, credited with four-fold growth in Infosys' revenue to $2 billion during his tenure as CEO, had said at the time that cultural fit would be an important criteria for the top job, making internal candidates "very strong contenders". "The board is also grateful to Pravin for his leadership during this period of transition", Nilekani added.