The company is looking to bring back the focus on revenue growth and business strategy under the new leadership.
Infosys, which spent most part of 2017 handling the public standoff between its high-profile promoters and the past leadership, will announce its third quarter financials on January 12.
Industry watchers say Parekh's skills in handling multi- cultural work environment, combined with his strong grip on technology and sales, makes him the perfect choice for leading Infosys during this period of transition, according to PTI.
The scrip was trading 0.04 per cent down at Rs 1,034.10 at around 10.10 am (IST). Shares of the company opened at Rs 1,037.20 and touched a high and low of Rs 1,043.40 and Rs 1,031, respectively, in trade so far. Benchmark BSE Sensex was down 68 points, or 0.20 per cent, at 33,744 at around the same time.
Shares of the company had hit their 52-week high of Rs 1,046 on December 29, 2017 and 52-week low of Rs 861.50 on August 22, 2017.
This is the second time after Vishal Sikka that Infosys has roped in an external candidate for the CEO role in its over three decade history.
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