It was on March 17, 2023, that Rajesh Gopinathan, the MD and CEO of TCS, announced his decision to step down.
“There’s no better time to leave than when you are actually in a good place,” said Gopinathan.
But why this sudden decision? What does this mean for TCS? Who is going to be the new CEO?
Keep reading to find out!
Why did TCS CEO resign?
There is a lot of speculation surrounding this move. After all, Gopinathan was re-appointed to this post only last year, and he was supposed to serve till 2027. Yet, as per the latest reports, he will be departing in September, 2023.
Gopinathan claims that it is time to move on and pursue other interests.
“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.” — Gopinathan
The decision is not uncalled for, of course. Gopinathan has been at TCS for 22 years. Since joining the company in 2002, he has slowly climbed the corporate ladder. He even served as the Chief Financial Officer for a brief period, before progressing to the position of CEO. He served as the CEO for six years before announcing his departure.
Under his leadership, TCS has maintained its position as the market leader. The share value has almost tripled. And the earnings back it up. As of last year, TCS’s revenue has grown two-fold, and its profit has increased by almost 60%.
Gopinathan focused on digital transformation, cloud services, and customer-centricity. He also oversaw several key acquisitions and partnerships, including the acquisition of W12 Studios and the partnership with Google Cloud.
Not a bad legacy to leave behind, eh?
So who is going to try to fill these shoes after Gopinathan?
Who is the new CEO of TCS?
The new CEO designate of Tata Consultancy Services is K Krithivasan. He will take over as the new CEO and Managing Director in September, pending approval from the shareholders.
Krithivasan will be transitioning from his role as the Global Head of the BFSI group at TCS. He has been with the company for over 34 years now, since he joined in 1989. He is currently based in Chennai, but he will be moving to Mumbai soon to take on the responsibilities of his new office.
He has had a stellar career and is on the board of TCS Iberoamerica, TCS Technology Solutions, and TCS Ireland.
Will he be able to live up to the exceptionally high expectations that the market continues to have from TCS?
Only time will tell!