TCS' MD & CEO Rajesh Gopinathan resigns; K Krithivasan appointed as CEO Designate

Rajesh Gopinathan, who served as the Managing Director & CEO at Tata Consultancy Services (TCS) for the last 6 years, announced on Thursday that he will be stepping down from his current managerial position to pursue his other interests. TCS informed in a release that the company's Board of Directors has accepted his resignation.

He will however continue with the company till September 15, 2023, to provide transition and support to his successor.

The company has nominated its current President and Global Head of the Banking, Financial Services, and Insurance (BFSI) Business Group K Krithivasan as CEO Designate with immediate effect. He will go through a transition with Gopinathan and will be appointed as the Managing Director & CEO in the next financial year, as per the filing.  

"After a stellar career of over 22 years with Tata Consultancy Services (TCS) and a successful stint as Managing Director and CEO during the last 6 years, Rajesh Gopinathan has decided to step down from the company to pursue his other interests," the company said in a statement.

All you need to know about the new #CEO of @TCS - #Krithivasanhttps://t.co/7e4wVcSURk

— Zee Business (@ZeeBusiness) March 16, 2023

"The Board has nominated K Krithivasan as the CEO Designate, with effect from 16th March 2023. Krithivasan will go through a transition with Rajesh Gopinathan and will be appointed as the Managing Director & CEO in the next financial year," it further added.

“I have thoroughly enjoyed my exciting 22 year tenure at TCS. It has been a pleasure working closely with Chandra, who has mentored me through this entire period. The last six years of leading this iconic organization have been most enriching and fulfilling, adding over $10Bn in incremental revenues and over $70Bn increase in market capitalization,” Gopinathan said.  

#TCS: राजेश गोपीनाथन का CEO, MD पद से इस्तीफा

राजेश गोपीनाथन 15 सितंबर तक पद पर बने रहेंगे

K. Krithivasan आज से CEO (मनोनीत) नियुक्त

Zee Business LIVE - https://t.co/L8jjrIhVSv pic.twitter.com/IpEWd7AWfz

— Zee Business (@ZeeBusiness) March 16, 2023

He added, “I have been harbouring a few ideas on what I want to do in the next phase of my life. After deep reflection and in discussion with the Chairman and the Board, we decided that the end of this fiscal year is a good time for me to step aside and pursue those interests. Having worked with Krithi over the last two decades, I am confident that he is best positioned to take TCS to greater heights along with the leadership team. I will be working closely with Krithi to give him all the support that he needs.” 

This is the second major leadership change in the Indian IT sector within a week. Last week, Infosys president Mohit Joshi quit the firm and joined Tech Mahindra as MD and CEO designate to take over the charge from CP Gurnani, who will retire in December.