Mumbai: With Rajesh Gopinathan, the MD and CEO of IT giant Tata Consultancy Services (TCS), has resigned from the company to pursue other interests.
The country’s largest software exporter on Thursday said Krithivasan has been nominated as the CEO designate with immediate effect while Gopinathan, who has been at the helm for six years, will continue with the company till September 15 to provide transition and support to his successor.
During the presser, Gopinathan said it was a day of mixed feelings for him as it has been a fantastic journey with TCS. He thanked the customers for reposing their trust in the company.
“The Board of Directors has considered his request and accepted the same. Gopinathan will continue with the company till 15th September 2023 to provide transition and support to his successor,” the company said in a filing.
The Board has nominated K.Krithivasan as the CEO designate with effect from 16 March. The company said Krithivasan will go through a transition with Rajesh Gopinathan and will be appointed as the MD & CEO in the next financial year.
Gopinathan had a 22-year stint with TCS and during his last six years of tenure, the IT company has added $10 billion in incremental revenue and over $70 billion increase in market capitalisation.
During Gopinathan’s tenure as CEO, shares of TCS have more than doubled, rising over 160% in the six-year period.
The new CEO designate Krithivasan has joined TCS in 1989, and during this long tenure, he has held various leadership roles in delivery, customer relationship management, large program management and sales.
Krithivasan is currently President and Global Head of the BFSI business group at TCS. He has been part a of global technology sector for over 34 years.
A mechanical engineer from University of Madras, Krithivasan is also a member of the Board TCS Iberoamerica, TCS Ireland and the supervisory board of TCS Technology Solutions AG. He also holds a Master’s degree in Industrial and Management Engineering from IIT Kanpur.
The timing of the announcement of Gopinathan’s resignation isn’t good when investor sentiment has already been soured by the global banking crisis and its spillover effects on the IT industry.
