With Salil Parekh set to take charge of Infosys from January next year, the software major is betting big on cloud computing and cybersecurity to reignite growth. India’s second-largest software exporter, since its initial days, thrived on getting technology projects for Fortune clients, which involved writing or maintaining software codes for these companies.
With its recent acquisition of UK-based design firm Brilliant Basics, Infosys has managed to bag banking deals for its Finacle product, which could give a much-needed fillip to its platforms business. Sanat Rao, Chief Business Officer and Global Head of Finacle, told BusinessLine over the telephone that the software major was able to get orders from three banks recently, including two in West Asia and one in the US.
Salil S Parekh, the former executive of Capgemini who will take over as the new chief executive officer at Infosys, has an unenviable task at hand. From addressing the stakeholder concerns to managing investor expectations to taking the company through a big transformation, Parekh has a work which is truly herculean. Above all, his relationship with both the founders and the board will be closely watched.
NEW DELHI: On Saturday, India’s second-largest software provider Infosys announced the appointment of Salil S Parekh as their new MD (Managing Director) and CEO (Chief Executive Officer), bringing an end to a three-month search. Parekh who joins the company from French IT services company Capgemini has been appointed a five-year term and will take office from January 2, 2018.
Infosys may have overcome a big challenge by finding a new chief executive, but that’s not even half the battle won for the country’s second-largest IT services company which has been struggling for years to regain industry-leading growth. On Dec. 02, Infosys said it has appointed 53-year-old Salil S Parekh as its CEO and managing director effective Jan. 02, 2018. An IIT-Bombay alumnus, Parekh joins Infosys from French IT services company Capgemini where he was a member of the group executive board, roughly equivalent to a deputy CEO’s post.
Salil S Parekh’s experience in handling multi-cultural work environment combined with his strong grip on technology and sales make him the perfect choice for leading Infosys, say IT industry experts. Parekh was named as the CEO and Managing Director of Infosys and is slated to take charge at the helm of India’s second largest IT firm on January 2, 2018 for a period of five years.
Infosys Ltd. on Saturday named Capgemini veteran Salil S. Parekh as CEO and MD, filling the vacancy created at the top following the sudden resignation of Vishal Sikka on August 18. Mr. Parekh, who holds Master of Engineering degrees in Computer Science and Mechanical Engineering from Cornell University and was a member of the Group Executive Board at Capgemini, will join Infosys on January 2, 2018.
Salil S Parekh, the new CEO of Infosys, is described as a soft-spoken yet determined man by those who know him. And, they said, these skills will certainly come handy when he takes over the top role at India’s second largest IT company that is recovering from a year-long acrimony between the previous management and the founders, led by NR Narayana Murthy.
Infosys said 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. The appointment ends a nearly four-month long search for the top job at India’s second largest IT services firm.
A smooth and updated android experience, an upgradable customer segment and design is what HMD Global is focussed on to bring the Nokia name firmly in the spotlight for smartphones.
IBM has announced a new IBM Cloud Private software platform to help companies unlock billions of dollars in technology investment in core data and applications and extend cloud-native tools across public and private clouds.
There was a time when the Infosys’s quarterly results set the tone for the $150 billion Indian IT service sector’s performance. The bellwether’s numbers influenced not just its own shares but even the benchmark IT indices on Indian bourses. But on Oct. 24, when the country’s second-largest IT company posted its financial results for July-September 2017 (Q2), the spotlight wasn’t on its net profit or revenue. Instead, it was mostly on the tussle between founder NR Narayana Murthy and the newly-appointed leadership.
Infosys Ltd co-founder Narayana Murthy publicly criticised the company’s board again, just as directors try to recruit a chief executive officer to replace one who resigned out of frustration with such clashes.
Apple has discontinued what has often been called the “best iPhone model” — iPhone 7 256GB. In fact, reports suggest that Apple might have stopped selling this variant of the iPhone 7 on the same day as the iPhone 8 was launched – September 12. The move is hardly surprising, and Apple is keen to push sales of its newest offering that has had a slow uptick thus far. Both the iPhone 8 and the iPhone 8 Plus have a 256GB variant, but ever since they launched, it is the iPhone 7 that has benefited most.
Ahead of Infosys’ second-quarter earnings announcement, analysts expect the outcome of the board meeting to reflect on long-term stability in the business along with short-term confidence-building measures like a date for share buyback and employees’ salary hike.
Conversations on Artificial Intelligence (AI) range from the extremely progressive views on the possibilities it offers to the other side of the spectrum where the chatter is all humdrum and the fear of losing jobs to machines overtakes everything else. Well, the fact is, both perspectives are right and matter equally.
With an aim to capture market share from Amazon and Microsoft, Google is luring corporates with its machine learning and AI technologies at attractive price points.
A sense of excitement, of jumping into something green or greener, pervades right through IBM India offices today. The organisation is in the midst of transforming itself to focus on the Indian market. It is metamorphosing with the aim to grow the more profitable India business, even as globally IBM has reported 21 quarters of declining revenues.
Google’s announcement that it would acquire the bulk of HTC’s smartphone research and design division came as a surprise, but it wasn’t entirely unexpected.
India’s rapid transition to a cashless economy since Prime Minister Narendra Modi’s demonetization drive has exposed new avenues for virulent cyber threats across the nation.
Bidding for smart city projects, working with startups and launching a slew of products for an increasingly digital world are among the things that Dell EMC is planning , as it completes one year of the merger between Dell Inc. and EMC Corp.
Analysts say that Apple has created a new “premium-plus” category with the new launches, but the biggest beneficiary could be the iPhone 7.
Apple’s new iPhones will be available in India at the same time as in the US and other major markets. Yet, Apple seems to have ignored India in some other areas, which could indicate its market priorities. Before launching the iPhone 8, 8 Plus and the X, Apple CEO Tim Cook showcased two of the company’s important products — the Apple Watch and the Apple TV 4K. While the company won’t be launching the cellular version of the Apple Watch in India, the Apple TV 4K is also expected to be launched in the country only by next year.
Catch Manish Gupta of Dell EMC in an exclusive conversation with Sanchit Vir Gogia of Greyhound on our Greyhound TV expert dialogue series, Brass Tacks, a Greyhound Studios production.
Indian IT firms, especially in the mid-tier segment, have seen a rise of private equity firms placing stakes on them. While faster technology at mid-size IT services companies have attracted PE firms such as Blackstone, Carlyle, ChrysCap, Bain Capital, The Baring Asia and others to invest in the sector; PE-backed companies have seen faster growth at a time when their large listed peers slowed down due to uncertain market.
Engineers and product managers at Apple’s headquarters at Cupertino these days are obsessed with the idea of embedding artificial intelligence (AI) into every aspect of consumer’s digital touch points. That’s because Apple chief Tim Cook wants AI to be like air, all pervasive yet invisible.
What happened with Cyrus Mystry in Tata seems to have happened with Vishal Sikka in Infosys. The letter sent by founders to Infosys board raising governance concerns has given rise to nagging suspicion that remote controlling of a company by former promoters may be an emerging trend in Indian corporate that are restructuring and reinventing themselves to come to terms with the new business realities.
Corporate tussles have rarely been as public as the one between Infosys founder and former CEO N.R. Narayana Murthy and MD and CEO Vishal Sikka. That wrangle, which led to the latter’s resignation, has brought to focus many issues at the company.
Catch Rudramuni B, Vice President & Center Head, Dell EMC and Sudha KV, Vice President at Dell EMC in an exclusive conversation with Sanchit Vir Gogia, Chief Analyst & CEO, Greyhound on our Greyhound TV expert dialogue series, Brass Tacks, a Greyhound Studios production.
As Abidali Neemuchwala completes six quarters as the chief executive of India’s third largest IT services firm, he seems to have figured out a way to break the jinx of sluggish growth that the company has seen for years.
Allegations and counter-allegations have been flowing thick and fast since Vishal Sikka resigned as managing director and CEO of IT bellwether Infosys. Crises at Infosys opens up the Pandora box which has led head hunters analyse the key takeaways.
Albeit the judgement by the 9 judge bench on August 24, 2017, is a landmark judgement, it’s a little too early to celebrate. Despite the tons of chatter on this being a blow to UIDAI, we just cannot be sure yet. Here are a few points to consider.
A company is hit by ransomware every 40 seconds somewhere in the world, thanks to the rise of ransomware-as-a-service model that is available ‘on demand’ to criminal gangs who increasingly target businesses. To date, 2017 has seen this trend play out in full force, with high-profile attacks such as Petya and WannaCry.