TCS - Unexpected CEO Exit Not Likely To Hurt Business Delivery: Motilal Oswal
The board has nominated its President and BFSI business group head, Mr. K. Krithivasan, as the CEO Designate from March 16, 2023.
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Motilal Oswal Report
Tata Consultancy Services Ltd. on March 16, 2023 announced the resignation of its Managing Director and Chief Executive Officer, Mr Rajesh Gopinathan, effective September 15, 2023.
The board has nominated its President and banking, financial services and insurance business group head, Mr. K. Krithivasan, as the CEO Designate from March 16, 2023, and he will take over as MD and CEO in FY24 after shareholder approval.
As per the company, Mr. Gopinathan is stepping down after 10 years as CXO (CFO followed by CEO) to pursue new interests.
Mr. Gopinathan’s departure from TCS is surprising, as he has led the company for only six years and was expected to continue for the long term given his age (52 years). Moreover, while the company’s growth has trailed peers like Infosys Ltd. recently, it has handled external pressures, including a transition to digital delivery and the Covid impact relatively well despite its size.
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