TCS chief Rajesh Gopinathan has put in his papers, almost 4 years forward of the completion of his tenure, and will likely be changed by firm veteran Krithi Krithivasan.
IMAGE: Rajesh Gopinathan, CEO and managing director of Tata Consultancy Services. Photograph: Francis Mascarenhas/Reuters
The nation’s largest software program exporter on Thursday stated Krithivasan has been nominated because the CEO designate with instant impact whereas Gopinathan, who has been on the helm for six years, will proceed with the corporate until September 15 to offer transition and assist to his successor.
TCS shareholders in April 2022 had authorized the appointment of Gopinathan for 5 years, ending February 20, 2027.
“After a stellar profession of over 22 years with Tata Consultancy Services (TCS) and a profitable stint as managing director and CEO over the last 6 years, Rajesh Gopinathan has determined to step down from the corporate to pursue his different pursuits,” the corporate stated in an announcement.
This is the second main management change within the Indian IT sector inside every week.
Last week, Infosys president Mohit Joshi stop the agency and joined Tech Mahindra as MD and CEO designate to take over the cost from CP Gurnani, who will retire in December.
TCS has nominated its present president and Global Head of the Banking, Financial Services, and Insurance (BFSI) Business Group, K Krithivasan as CEO designate with instant impact.
“The Board has nominated K Krithivasan because the CEO Designate with impact from sixteenth March 2023. Krithivasan will undergo a transition with Rajesh Gopinathan and will likely be appointed because the managing director & CEO within the subsequent monetary 12 months,” the assertion stated.
During the tenure of Gopinathan as managing director and CEO, TCS gained $10 billion in incremental revenues.
TCS chairman Natarajan Chandrasekaran stated that Gopinathan offered robust management to the corporate.
“Over the final 6 years, Rajesh has offered robust management because the MD & CEO and has laid the muse for the following part of TCS’ development with important investments in cloud, agile and automation to assist purchasers speed up their transformation. I’m deeply appreciative of Rajesh’s huge contribution to TCS. I want him the easiest for the longer term,” he stated.
Gopinathan took the reins of TCS from Chandrasekaran who was elevated to the submit of Tata Sons chairman in February 2017.
“The final six years of main this iconic organisation have been most enriching and fulfilling, including over $10 billion in incremental revenues and over $70 billion improve in market capitalisation.
“I’ve been harbouring just a few concepts on what I need to do within the subsequent part of my life.
“After deep reflection and in dialogue with the chairman and the Board, we determined that the top of this fiscal 12 months is an efficient time for me to step apart and pursue these pursuits,” Gopinathan stated.