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Journalism of Courage
Tata Consultancy Services (TCS) Thursday said its Managing Director and Chief Executive Rajesh Gopinathan has tendered his resignation, effective September 15.
The company’s board has nominated K Krithivasan as the CEO-designate with effect from Thursday. He will take over as the Managing Director and CEO in the next financial year, subject to shareholder’s approval, the company said in an exchange filing.
Gopinathan was elevated to the role of Chief Executive Officer in February 2017 after serving as the Chief Financial Officer since 2013. In 2022, he was re-appointed as MD and CEO for five more years.
Under his leadership, the market capitalisation of TCS crossed $167.86 billion in FY 22-23, making it the second-most valuable company in the country. He also helped TCS cross a trailblazing net profit mark of Rs 10,846 crore in the third quarter of FY 22-23. Under his stewardship, the company’s brand value increased by 212 per cent to $45.5 billion in the past two years.
TCS Chairman N Chandrasekaran said: “Over the last 6 years, Rajesh has provided strong leadership as the MD & CEO and has laid the foundation for the next phase of TCS’ growth with significant investments in cloud, agile and automation to help clients accelerate their transformation. I am deeply appreciative of Rajesh’s enormous contribution to TCS. I wish him the very best for the future.”
“The last six years of leading this iconic organization have been most enriching and fulfilling, adding over $10 billion in incremental revenues and over $70 billion increase in market capitalization,” Gopinathan said.
Krithivasan is presently President and Global Head of the banking, financial services, and insurance (BFSI) business group at TCS. He has been part of the global technology sector for over 34 years, having joined TCS in 1989.
During his long tenure at the company, he has held various leadership roles in delivery, customer relationship management, large program management and sales.
Krithivasan is also a member of the Board of Directors of TCS Iberoamerica, TCS Ireland and the supervisory board of TCS Technology Solutions AG.
He holds a bachelor’s degree in mechanical engineering from the University of Madras and a master’s degree in Industrial and Management Engineering from IIT Kanpur.
