TCS CEO Resigns, TCS CEO Name: Outgoing Tata Consultancy Services (TCS) CEO Rajesh Gopinathan on Friday described his stint with TCS as wonderful and that "there couldn't be a better time to move on". Addressing the media a day after stepping down as the CEO of India's largest IT services provider, he said that TCS has been built on pillars of customer centricity and employees who have always committed and given their best to the company. Gopinathan said that he will be available to CEO-designate K Krithivasan 100 per cent during the transition period. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

"I asked myself if not now, will there be a better time, as I have been having discussions with N Chandrasekaran (chairman of Tata Sons) off and on," he said. "I don't expect this transition to be very dramatic," he added.

Gopinathan on Thursday resigned just a year into his second five-year term at the helm of the company. Gopinathan was re-appointed last year as the Indian IT behemoth's CEO till 2027. He would leave TCS in September to pursue other interests. Gopinathan has been with TCS since 2001 and has held multiple leadership positions, including that of chief financial officer. Under his leadership, TCS shares nearly tripled in value and revenue almost doubled and profit zoomed about 60 per cent, as of last quarter.

Gopinathan said that the choice of Krithivasan was driven by the board and N Chandrasekaran, "they looked at a variety of candidates and felt Krithi was the best fit".

Responding to a Zee Business question on the biggest challenge he will go through, CEO-designate K Krithivasan, said, "Every time there is a change in the market, it gives new opportunity. We will not make any changes and continue to focus on core principles."

"I don't expect or you should expect to see great strategy change or organisational change coming in in future immediately," he said.

TCS has named K Krithivasan as CEO-designate, effective March 16. He would take over as CEO and managing director in the next financial year, subject to shareholders' approval. He had joined TCS in 1989 and has held various leadership roles in the company.

The move comes as the Indian IT industry faces a challenging macroeconomic environment in its key markets of Europe and the United States while also coming under renewed focus due to its big exposure to the US banking sector, which is currently experiencing a financial crisis.

Who is K Krithivasan? Know all about TCS' next CEO - His career, education and other details

Click Here For Latest Updates On Stock Market | Zee Business Live