Parekh completes his second term and has been at the helm for over 9 years. Infosys has opted for an insider to lead in the AI era. Vetran Dash has been with the company for over three decades and currently heads its energy, utilities, resources and services vertical which accounts for over a tenth of its total business. This also marks a smooth leadership transition for Infosys in recent times. The appointment comes at a time when the Indian IT industry has been witnessing a considerable churn due to factors like AI and automation, which poses serious questions about its relevance.
Vedanta Group company Hindustan Zinc has roped in industry veteran Amarendu Prakash as its Chief Executive Officer. Amarendu Prakash has over three decades of experience in India’s steel sector and was previously Chairman and Managing Director of SAIL, where he led transformative initiatives including capacity expansion.
Meanwhile, there is plenty to look out for in terms of leadership transition at major private sector banks. HDFC Bank’s current Managing Director and Chief Executive Officer Sashidhar Jagdishan three year tenure is coming to an end in October. The moot question is will he get reappointed. The bank has appointed former union finance secretary Rajiv Kumar as a Part-time Chairman for a period of 3 years. This came after Atanu Chakraborty stepped down citing a clash with certain happenings and practices at odds with his personal ethics. External law firms appointed by the bank found Chakraborty’s statement and its implications were not substantiated by the record and witness interviews. HDFC Bank Deputy Managing Director Kaizad Bharucha said the board is discussing on the appointment of MD and CEO and is seized of the matter. Kotak Mahindra Bank is also in search for a new Managing Director and CEO, after its current chief Ashok Vaswani said he does not wish to seek re-appointment upon completion of his current term on 31 December 2026. The bank’s board and nomination and remuneration committee are totally committed to making sure that the appointment gets done within the regulatory timeline, Kotak Mahindra Bank’s Group Chief Financial Officer Devang Gheewalla said in a post earnings call.