Salil Parekh is the visionary CEO and Managing Director of Infosys, redefining the future of technology and business. With nearly three decades of global IT expertise, he is a driving force behind transformative innovations, significant turnarounds, and billion-dollar acquisitions. Known for his sharp strategic mind and bold leadership, Salil not only leads but also inspires those around him. As a prominent figure in India’s National Council of the Confederation of Indian Industry (CII), he plays a crucial role in shaping India's economic landscape, helping Infosys reach unprecedented heights. In 2024, he was recognized as the world's best IT CEO in Brand Finance's Brand Guardianship Index, and it shows his exceptional ability to build brands and deliver lasting value.
Salil Parekh's top-notch holding of power in the IT sector is built on an excellent academic platform. He graduated with a degree in Aeronautical Engineering from the prestigious IIT Bombay, positioning himself for great opportunities. With a passion for learning and innovation, he furthered his education at Cornell University, where he earned a Master's degree in Computer Science and Mechanical Engineering. This exceptional combination of technical skills and a commitment to continuous learning has been the foundation of his remarkable career, enabling him to lead and redefine the trajectory of one of the world's most influential technology companies.
Salil Parekh is Infosys's current CEO, with an experience of over three decades. Salil Parekh began his career at Ernst & Young in 1992 when the consultancy arm later merged with Capgemini. Over 25 years at Capgemini, he held key positions, including leadership roles in Cloud Infrastructure Services and various business clusters, such as Application Services. Since becoming CEO of Infosys in January 2018, Salil has significantly transformed the company's strategic focus, emphasizing digital transformation and cloud services. He is particularly recognized for his close partnerships with client leaders to design and implement innovative digital programs, which have established Infosys as a global leader in technology.
Mr. Parekh is leading the company's AI-first strategy, with a focus on generative AI to improve business operations and foster innovation. Under his leadership, Infosys has launched platforms such as Infosys Topaz and partnered with major companies like Meta and Telstra to integrate AI and cloud solutions, thereby accelerating digital transformation.
AI-First Ambition: Salil Parekh, the CEO of Infosys, has reaffirmed the company's commitment to becoming an AI-driven organization. This strategic shift aims to harness the transformative potential of generative AI across various sectors.
AI Services: Infosys Topaz is an AI-driven suite of services that leverages generative AI to accelerate business growth, improve efficiency, and create connected ecosystems. With over 12,000 AI assets and more than 150 pre-trained models, it empowers enterprises with data-driven cognitive solutions. This approach fosters innovation, enhances speed, and promotes the democratization of AI, leading to value creation across various industries.
Strategic Collaboration: Infosys has strengthened its strategic partnership with Meta by launching a Center of Excellence aimed at driving enterprise AI innovation through open-source initiatives. By utilizing Meta's Llama stack, Infosys is promoting the adoption of generative AI, developing industry-specific solutions, and supporting open-source contributions, which collectively enhance business value for global enterprises.
Focus on GenAI: The IT giant has intensified its focus on generative AI as part of its AI-first strategy. CEO Salil Parekh emphasized the company's plans for future acquisitions in the Cloud and AI sectors. Currently, the company is engaged in 50 generative AI client projects and has launched Topaz, which utilizes Cobalt and data analytics to deliver transformative business solutions.
AI Skills Training: Infosys has trained 40,000 employees in generative AI skills. According to its CEO, Salil Parekh, the company is currently engaged in 80 AI projects for clients. The firm works with both open-source and proprietary AI platforms. Additionally, generative AI has been integrated into its internal processes, including the use of AI assistants for employees.
Expanding Recruitment: Infosys is actively increasing its recruitment efforts and does not plan to implement any layoffs. This decision comes as the adoption of generative AI continues to rise. CEO Salil Parekh mentioned that the company is currently working on 225 AI projects and has trained over 250,000 employees. Additionally, Infosys is exploring potential acquisitions in data analytics and SaaS in both Europe and the United States.
Digital Transformation with AI: Infosys has partnered with LIC to facilitate the transformation of LIC using AI and cloud solutions. This collaboration will enhance LIC's data analytics capabilities, AI implementation, and cloud infrastructure, ultimately improving customer service and operational efficiency. It represents a strategic effort by Infosys to modernize financial services through advanced technology.
Parekh has become the leading figure in India's IT sector following an impressive fiscal year in 2023-24. He earned ₹66.25 crore, making him the second-highest-paid IT CEO in terms of fixed pay at ₹7.47 crore, with a bonus of ₹19.75 crore and stock options valued at ₹39.03 crore. This marks a significant increase from the previous fiscal year, where he earned ₹56.4 crore. Under his leadership, Infosys has reached new heights, with the company reporting a 30% surge in net profits for Q4, totaling ₹7,969 crores, and revenues climbing to ₹37,923 crore. Supported by a free cash flow of $2.8 billion, Salil's strategic vision is poised to propel Infosys to maintain its position among the top companies globally.
Under his leadership, Infosys entered a new era of growth after redefining what drives a global tech giant. His transformative approach involves not only developing strategies but also creating a powerful leadership team capable of executing those strategies effectively. He believes that success comes from collective brilliance rather than individual vision, fostering a culture of collaboration and innovation. This philosophy has enabled Infosys to consistently achieve strong financial results and expand confidently into new markets, solidifying its position in the ever-evolving technology landscape.
Salil Parekh, CEO of Infosys, has faced several controversies during his tenure, particularly regarding allegations of unethical practices and insider trading. Here is an overview of those notable controversies:
Insider Trading Case: Parekh agreed to settle an insider trading case with the Securities and Exchange Board of India (SEBI) by paying ₹25 lakh. This case stemmed from an investigation conducted between June 2020 and September 2021, which revealed that Infosys had not implemented sufficient controls to prevent insider trading related to a partnership announcement with Vanguard.
Unethical Practises: The turmoil at Infosys began in October 2019 when whistleblowers accused CEO Salil Parekh of engaging in improper practices to inflate profits. The company's stock plummeted by 12%, marking its worst drop in six years, as it faced allegations of irregular accounting. In response, the audit committee launched an investigation, reigniting concerns that had already shaken investor confidence due to controversies surrounding the previous leadership.
Corporate Decay: Allegations against Infosys CEO Salil Parekh extend far beyond accounting fraud. The accusations include racist slurs and other inappropriate behavior. A whistleblower's letter accusing him and CFO Nilanjan Roy of misconduct led to a 17% decline in the company's stock, resulting in a loss of ₹53,000 crore in market value and raising concerns about a decline in corporate culture.
Onboarding Delays: The delays in onboarding at Infosys have further alarmed the new hires, leading them to believe that something might be amiss. The approximately 2,000 graduates from the 2022 batch experienced postponed joining dates. In response, the Nascent Information Technology Employees Senate (NITES) submitted a formal complaint. CEO Salil Parekh assured that all job offers would be honored, although the joining dates would be postponed.