New Delhi, Jul 23 (PTI) India's second-largest IT services firm Infosys on Thursday appointed company veteran Ashiss Kumar Dash as the CEO designate, with the leadership transition set to take effect in 2027 after incumbent Salil Parekh completes his second term, capping a nine-year tenure.

Dash's appointment is for five years (till March 31, 2032) and is subject to shareholders' nod. The appointment is based on the recommendation of the Nomination and Remuneration Committee of the Infosys Board, the company said.

Dash, who has spent over three decades at Infosys, currently heads a diverse global business portfolio across multiple industry segments.

"Dash is currently the global head of a diverse business portfolio comprising multiple industry verticals and is planned to succeed Salil Parekh as Managing Director and Chief Executive Officer on April 1, 2027, following the completion of Salil’s second term, after over nine years," the company said.

He has held senior leadership roles spanning customer-facing businesses, delivery, and global operations across multiple geographies. He also leads the sustainability business.

He has consistently delivered strong business performance, helped clients navigate complex business and technology transformations, and built high-performing global teams, according to Infosys.

"The Board believes this combination of strategic and commercial acumen together with his technology delivery experience uniquely positions him to lead Infosys through its next phase of AI-led transformation, while building on the company's enduring strengths," the release said.

Infosys Chairman Nandan Nilekani noted that the industry is entering a period of considerable change.

"The Board was clear that our next CEO needed to combine the ability to drive bold transformation with the judgment to preserve the values and customer trust that have always distinguished Infosys. It gives me great pleasure that we have an internal leader as our next CEO," Nilekani said on Dash's appointment.

Nilekani also thanked Parekh for his "outstanding leadership" spanning nine years.

"Salil (Parekh) has been instrumental in the turnaround of the company, establishing its leadership in the digital era, and laying the foundation for a strong and differentiated AI strategy," Nilekani said.

Parekh will continue to lead the company up until March 31, 2027, and work closely with Dash to ensure a seamless leadership transition.

It is pertinent to mention here that Parekh's tenure was marked by strong business growth, as well as some high-profile challenges.

He took over in January 2018 following the acrimonious exit of former CEO Vishal Sikka and simmering tensions between the board and founders, and was instrumental in helping restore management stability and investor confidence.

By 2026, Parekh had become Infosys' longest-serving CEO who was not one of the company's founders.

With Parekh at the helm, Infosys clocked growth in revenue, profits and large deal wins, alongside the expansion of Infosys' digital and AI businesses, but his tenure was also marked by challenges.

Infosys faced heat after India's new income tax e-filing portal, which it developed, suffered prolonged technical problems. In June 2021, Finance Minister Nirmala Sitharaman asked Infosys and its Chairman Nandan Nilekani to fix technical glitches being encountered on the income tax department’s e-filing website, after users flooded X timelines with complaints.

Infosys also faced one of its biggest tax disputes during Parekh's tenure after GST authorities in July 2024 issued a Rs 32,403-crore demand notice over services received from its overseas branches between July 2017 and March 2022. The company disputed the demand, saying it had fully complied with tax laws, and the Directorate General of GST Intelligence later closed the proceedings, handing Infosys major relief.

Thursday's announcement of leadership transition came alongside Infosys' Q1 FY27 results.

Parekh said it has been an honour for him to be the custodian of such a prestigious company, to partner with the leading companies of the world as clients, and to collaborate with an incredible team.

"I have enjoyed leading the company from USD 10 billion in revenue to over USD 20 billion in revenue through my two terms. We have established Infosys as a leader in digital transformation and have put in place a distinctive strategy for AI transformation," he noted.

Parekh said having worked closely together over many years, he has seen first-hand Dash's integrity, customer focus, and ability to lead through change.

"He brings a deep understanding of our clients, our business, and our people, together with the vision and capability to lead Infosys through its next phase of transformation. I look forward to working closely with him over the coming months to ensure a smooth and successful transition," Parekh said.

Dash said he is excited about the opportunity to lead Infosys into its next chapter.

"Technology is entering a new era, with AI fundamentally reshaping how businesses operate and create value. Infosys begins this next phase from a position of enormous strength - with a clearly articulated AI strategy, exceptional talent, deep client relationships, and values that have earned the trust of customers globally," Dash said, pledging his commitment to accelerating innovation, expanding capabilities and helping clients succeed in an increasingly AI-driven world.

Dash is an alumnus of the Indian Institute of Technology, Kharagpur. He has also completed the Global Leadership Program at Stanford University and the Senior Executive Program at London Business School. PTI MBI MBI BAL BAL

Chief executive succession plan appoints a CEO designate, subject to shareholder approval, for an AI-led corporate leadership transition. Corporate leadership succession at Infosys is proposed through the appointment of Ashiss Kumar Dash as Managing Director and Chief Executive Officer designate from 1 April 2027. The five-year appointment is subject to shareholder approval and follows a recommendation of the Board's Nomination and Remuneration Committee. The incumbent will remain in office until the transition date and support an orderly transfer of responsibilities. The succession plan identifies the CEO designate's business, technology-delivery, client and global operations experience as relevant to AI-led transformation.