New Delhi, Dec 4 (PTI) Shares of Infosys today surgedfour per cent in morning trade on the bourses after thecompany announced the appointment of new CEO & MD SalilParekh.
On December 2, Infosys said it has appointed Parekh asits CEO and Managing Director, concluding the three-monthhigh-profile executive search at the country's second largestIT firm.
Following the announcement, shares of the company todayopened on a bullish note at Rs 983.00, then gained furtherground and surged 4.01 per cent to touch an early-day high ofRs 996.95.
Similar movement was seen on NSE, where the stock openedat Rs 980.00, then surged to an early-high of Rs 996.80,registering a jump of 3.96 per cent over its previous closingprice.
The Bengaluru-based firm had initiated the executivesearch after CEO Vishal Sikka resigned in August following aprotracted acrimony between the management and the founders.
UB Pravin Rao, who was filling in the CEO role on aninterim basis, will now continue as Chief Operating Officerand a whole-time Director of the company, Infosys said in astatement.
Parekh, who will take over his role at Infosys on January2, 2018 for a period of five years, was a member of the GroupExecutive Board at French firm Capgemini. PTI DRRANU.
This is unedited, unformatted feed from the Press Trust of India wire.