Rajesh Gopinathan unexpectedly resigns, and TCS selects K Krithivasan as its new CEO designate

17 Mar 2023 , 08:35 AM

The largest IT services provider in India, Tata Consultancy Services (TCS), is expected to name K Krithivasan as its new CEO. Rajesh Gopinathan abruptly quit as chief executive and managing director on Thursday. With effect from March 16, the board nominated Krithivasan as CEO-designate.

If shareholders approve, he will succeed as CEO and managing director in the upcoming fiscal year. His succession’s start date will be announced in due course, according to TCS.

Gopinathan, 52, has worked for TCS for 22 years, six of those as CEO. According to a statement from the business, his final date will be on September 15. In March 2022, he had been reappointed for a second five-year term. The banking, financial services, and insurance (BFSI) business area, which accounts for the greatest revenue share (31.5%) of the $25 billion corporation, is now led globally by Krithivasan. Krithivasan joined TCS in 1989.

Gopinathan oversaw a 160% increase in the stock price. Once Chandrasekaran was named chairman of Tata Sons in February 2017, he was promoted from the position of chief financial officer to CEO.

Gopinathan restated his intention to quadruple revenue to $50 billion by 2030 in his most recent interview with ET, which was conducted in December. In April 2022, he oversaw a significant organizational reform that put the consumer first. Chandrasekaran carried out the previous reorganization at TCS in 2009.

Gopinathan was one of the company’s youngest CEOs at age 46. He transferred there from Tata Industries in 2001 and worked to lead TCS’ newly founded e-business division in the US.

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