TCS CEO Rajesh Gopinathan, who speaks of a stellar career of over two decades at the IT major, has resigned from the post. However, he will continue with the company till September 15, 2023, to provide transition and support to his successor K Krithivasan, who is currently the global head of the BFSI division.
The company said in a statement, “After a stellar career of over 22 years with Tata Consultancy Services (TCS) and a successful stint as Managing Director and CEO during the last 6 years, Rajesh Gopinathan has decided to step down from the company to pursue his other interests.”
Here is all you need to know about Rajesh Gopinathan:
Gopinathan has been associated with TCS for over 20 years and has played a crucial role in the company’s growth and success. He began his career as a software engineer with TCS and has held various leadership positions, including the role of CFO, before being appointed as the CEO in 2017.
He was reinstated as the CEO of Tata Consultancy Services (TCS) for another five years, starting from February 2022 to February 2027.
He holds a degree in electrical and electronic engineering from NIT, Trichy, and a postgraduate diploma in management from IIM, Ahmedabad.
Besides his role in TCS, Gopinathan is also a member of several councils and forums such as the UK Investment Council, CII National Council, India-US CEO Forum, and the 2001 India-Japan Business Leaders Forum. The Indian government also proposed him to the Board of Commerce in July 2022.
TCS has grown under Gopinathan’s leadership, and the company’s revenue has reached $16.5 billion, with over 371,000 employees worldwide. TCS released a statement acknowledging his contribution, saying that he played a vital role in the company’s growth and success.
Here is a look at TCS under him:
Market cap: Between April 2018 and September 2021, the market cap grew from $100 billion to $200 billion.
Share price: Share price of TCS grew from ₹1,204 in Feb 2017 to ₹3,794 on Feb 18, 2022, CNBC report cited.
Revenue: Again between calendar year 2017 and 2021, revenue grew from $18.5 billion to $25 billion, up by 42%
Net profit: It climbed up to $4.5 billion in 2021-22 from $3.8 billion in 2016-17
Clients: $50 million-plus clients up by 25.5% and $100 million-plus clients up by 56.75%.
Regarding the newly appointed CEO, the company statement said, “The Board has nominated K Krithivasan as the CEO Designate, with effect from 16th March 2023. Krithivasan will go through a transition with Rajesh Gopinathan and will be appointed as the Managing Director & CEO in the next financial year.”