Infosys on July 23 announced that chief executive officer and managing director Salil Parekh will step down from his role, bringing to a close a nearly nine-year stint during which he steered India's second-largest IT services company through a period of operational stability, digital transformation, and the early wave of enterprise artificial intelligence.

The company said Parekh will step down effective April 1, 2027. The board has appointed Ashiss Kumar Dash as CEO Designate.

Parekh, who joined Infosys in January 2018, is the longest-serving non-founder CEO in the company's history. His current five-year term was scheduled to end on March 31, 2027.

The announcement comes weeks after Infosys' annual report and AGM notice remained silent on whether the board intended to extend Parekh's tenure beyond March 2027, prompting questions among investor over succession planning.

Nandan Nilekani, chairman of the Infosys board, said, “The Board is delighted to appoint Dash as CEO-designate. Our 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.

On behalf of the Board, I also thank Salil for his outstanding leadership over 9 years. Under his stewardship, Infosys has strengthened its market position, expanded its capabilities, delivered significant value to shareholders, and built a strong platform for future growth. Salil has been instrumental in the turnaround of the company, establishing its leadership in the digital era, and for laying the foundation for a strong and differentiated AI strategy. He will continue to lead the Company til March 31, 2027, and work closely with Dash to ensure a seamless leadership transition."