Tata Consultancy Services (TCS), India’s largest IT services company, on Thursday said its CEO Rajesh Gopinathan has resigned “to pursue other interests”. The company has appointed K Krithivasan as the new CEO-designate, effective Thursday, March 16.
“We wish to inform you that Rajesh Gopinathan, chief executive officer and managing director of Tata Consultancy Services Ltd, has tendered his resignation, which will be effective from the close of business hours on September 15, 2023,” TCS said in a regulatory filing.
It also said that based on the recommendation of the Nomination and Remuneration Committee, the board of directors at its meeting held on March 16, 2023, appointed K Krithivasan as the chief executive officer-designate, with effective from March 16, 2023.
He shall take over as the Chief Executive Officer and Managing Director of the Company in the next financial year, subject to shareholder’s approval, effective date of which would be intimated in due course.
Rajesh Gopinathan holds an electrical and electronics engineering degree from NIT, Trichy and a Postgraduate Diploma in Management from IIM-Ahmedabad. He was reinstated by TCS as managing partner and top executive officer for a further five years, from February 21, 2022, to February 20, 2027, in March 2022.
About K Krithivasan
K Krithivasan is currently president and global head of the banking, financial services, and insurance (BFSI) business group at Tata Consultancy Services. Krithivasan has been part of the global technology sector for over 34 years, having joined Tata Consultancy Services in 1989.
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.
During his long tenure at TCS, 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.
On Rajesh Gopinathan’s resignation, TCS Chairman N Chandrasekaran said, “I have had the pleasure of working with Rajesh for the past 25 years. During this period, Rajesh has always distinguished himself with exemplary performance in various roles, including his former role as the Chief Financial Officer. 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.”
Rajesh Gopinathan said, “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 organisation have been most enriching and fulfilling, adding over $10 billion in incremental revenues and over $70 billion increase in market capitalisation.”
He added, “I have been harboring 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.”
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