According to a regulatory filing, the board of IT services chief Infosys has approved the reappointment of Salil Parekh as the company’s chief executive officer (CEO) and managing director for another five years until March 31, 2027.
It is based on the recommendations of the Nomination and Remuneration Committee (NRC) and is subject to the approval of shareholders.
“… The Board of Directors, in their meeting held on May 21, 2022, approved the nomination and remuneration of the Committee (NRC) on the basis of its recommendations … March, 2027, subject to shareholder approval, ”said the BSE filing.
Parekh has been the CEO and Managing Director of Infosys since January 2018. He has more than 30 years of global experience in the IT services industry, with a strong track record of running digital conversions for enterprises, performing business changes and successfully managing them. Acquisition
Infosys further stated in the filing that in order to ensure the continuity and commitment of the company’s leadership to drive growth over the next few years, the NRC approved a grant of 6 KMP (Key Managerial Personnel) and another 104,000 shares. 375,760 shares to senior executives of 88 other companies.
“These performance stock units will be approved under the Infosys Extended Stock Ownership Plan 2019, and will take more than three years to achieve 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.