In a surprise leadership change at India's largest software services firm Tata Consultancy Services (TCS), it announced on Thursday that Rajesh Gopinathan, who has been the CEO and MD of the company for six years, is stepping down four years before his tenure ends, to pursue other interests.
"Mr Gopinathan will continue with the company till 15th September 2023 to provide transition and support to his successor," it said.
"There's no better time to leave than when you are actually in a good place. As far as advisory roles goes, as I just mentioned, my respect for advisors is exponentially growing. So I'll see whether something comes out of that, but as of now no plans," Rajesh Gopinathan said in a press conference, with his replacement by his side.
K Krithivasan, the current global head of the BFSI (Banking, Financial Services, and Insurance) business, has been appointed as the CEO Designate of the Tata Group company with effect from March 16 this year.
"Krithivasan has been part of the global technology sector for over 34 years, having joined Tata Consultancy Services in 1989. During his long tenure at TCS, he has held various leadership roles in delivery, customer relationship management, large program management and sales," a media release from TCS said.
In his six years as the top boss of the tech giant, Rajesh Gopinathan, who said he "thoroughly enjoyed" his "exciting 22-year tenure at TCS", added over $10 billion in incremental revenues and over $70 billion increase in market capitalisation.
"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," Mr Gopinath, who was re-appointed last year as TCS's CEO till February 20, 2027, said.
TCS chairman N Chandrasekaran said Rajesh Gopinath has "always distinguished himself with exemplary performance in various roles, including his former role as the Chief Financial Officer," adding that he was "deeply appreciative of Rajesh's enormous contribution to TCS".
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