Tata Consultancy Services, India’s largest software services provider, announced on Thursday March 16 that Rajesh Gopinathan, Managing Director and CEO of TCS, has resigned.
Who will be appointed in his place?
K. Krithivasan has been appointed Chief Executive Officer-designate of Tata Consultancy Services (TCS) by the Board of Directors effective March 16, 2023. TCS said in a statement that Rajesh Gopinathan will stay until September 2023 to provide transition and support for his successor.
The decision comes at a time when the Indian IT sector is grappling with a challenging macroeconomic environment in its key markets of Europe and the United States, and is also receiving renewed attention due to its significant exposure to the US banking sector, which is currently being reduced through a financial crisis.
Who is Gopinathan?
Gopinathan joined TCS in 2001 and has held various senior positions including Chief Financial Officer, according to cnbctv18.
During Rajesh Gopinathan’s tenure as CEO, the company rose to the top of the Fortune 500 list of preferred partners for business transformation. TCS is now a $25.7 billion multinational company with over 613,000 employees, making it the largest private sector employer in the world.
In the third quarter of FY23 he also helped TCS surpass a record-breaking net profit threshold of Rs 10,846 crore. Under his stewardship, the company’s brand value increased by 212 percent to US$45.5 billion in the past two years and was recognized by Kantar BrandZ India as the Most Valuable Indian Brand in 2022.
Gopinathan resigned after a 22-year career with the company, including six years as President and CEO.