Infosys New CEO News

Infosys shares rose as much as 4 percent after the IT services company on Saturday named Salil Parekh as its new chief executive, handing him the twin challenges of reviving growth and forging peace between its founders and board following a public spat.

Infosys new chief executive officer (CEO) and managing director Vishal Sikka took charge of the company in August.

Murthy, 68, will cease to be the non-executive Chairman with effect from Friday.

For 2014-15, Infosys retained its conservative revenue guidance of 7-9 percent in dollar terms and 5.6-7.6 percent in rupee terms, much below Nasscom's industry growth outlook at 13-15 percent in dollar terms.

Infosys has one of the highest attrition rates in the Indian IT industry at 19.5 percent, a trend that the software firm terms "worrisome".

Describing Sikka as a technology visionary, Murthy said he had carried out the mandate that the Infosys board had accorded him about an year ago.

For the second time in three years, Infosys chairman N.R. Narayana Murthy will Saturday bid adieu to the iconic company he co-founded with four other techies in 1981.

"With age on his side, Sikka should be able to make long-term strategies and goals, which is a good thing for Infosys. It brings stability," said Ankita Somani, Mumbai-based analyst at MSFL Research Institutional Business Group.

"With age on his side, Sikka should be able to make long-term strategies and goals, which is a good thing for Infosys. It brings stability," said Ankita Somani, Mumbai-based analyst at MSFL Research Institutional Business Group.

Some interesting facts about Vishal Sikka

He said that he is very happy and humbled to take on the responsibility as the new CEO of the nation's second-largest software services exporter.

Sikka, who quit SAP in May, comes in after four straight years of narrowing margins at Infosys. He will also be the company's managing director.

Infosys Ltd, India`s second-largest IT services exporter, named former SAP AG executive board member Vishal Sikka as Chief Executive Officer, the first time the company has not chosen one of its founders for the role.