Infosys on Saturday announced the appointment of Salil S Parekh as chief executive officer and managing director. The appointment, Infosys said in a press release, will be effective January 2, 2018. Mr Parekh will replace U B Pravin Rao, who took over as the Bengaluru-based IT company's interim CEO and managing director in August. The appointment was approved by the Infosys board of directors for a period of five years, subject to approval of shareholders and other regulatory requirements. The appointment was made based on the recommendation of the Nomination and Remuneration Committee which concluded its global search for a CEO and MD, Infosys said.