tcs: Gopinathan steps down as TCS CEO today, Krithivasan to take over on June 1

The outgoing CEO wished him success in a farewell note where he thanked all colleagues for their support over the last six years, in a note to employees on Monday.

During over a 33-year-long tenure at TCS, Krithivasan has held various leadership roles in delivery, customer relationship management, large program management and sales, and has successfully led TCS’ largest BFSI vertical in his most recent role. “I wish Krithi the very best as he takes over the TCS baton and charts the way forward to our $50 billion aspirations,” he wrote.

In an interview to ET in December last year, Gopinathan had reiterated his goal to double TCS revenue to $50 billion by 2030.

TCS had on March 17 announced the sudden resignation of Gopinathan and named banking and financial services president Krithivasan as CEO designate.

“I am grateful, I have had the privilege to helm the TCS journey over the last six years, and carry on the proud legacy of Kohli (FC Kohli), Ram (S Ramadorai) and Chandra (now Tata Sons Chairman N Chandrasekaran),” Gopinathan wrote in his farewell note. “I want to especially thank Chandra, our chairman, for his mentorship over the years.”

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ET has reviewed a copy of the note.Under Gopinathan’s tenure as CEO, TCS’s revenue increased from $17.5 billion in March 2017 to $27.9 billion in March 2023 while its market capitalisation almost doubled to $143 billion from $74 billion during the same time.

The change of leadership for TCS comes at a time when the IT services industry faces a lull in demand, a slowdown in hiring, ongoing inflation in Europe, and a shift of confidence in the banking ecosystem in the US…all amid a war in Ukraine.

Also read | In charts: Big three Indian IT companies get set for tough FY24

Krithivasan told ET in an interview earlier this year that while the global macroeconomic situation was uncertain, it was not challenging. “The thing to focus on is to stay close to customers, stay relevant to them, and offer them with new solutions,” Krithivasan had said. “And every time a crisis hits, actually, I personally believe we have come out stronger.”

He will have to cope with a few more senior level exits within a year.

Chief technology officer (CTO) K Ananth Krishnan, who was instrumental in changing the TCS model from outsourcing to a consulting focus, is retiring in October.

Chief operating officer (COO) NG Subramaniam, who has led TCS’s strategy in areas like artificial intelligence (AI) and fifth generation mobile network (5G) solutions, is also set to retire in May next year.

At 58, Krithivasan is among the senior-most candidates to be appointed to the CEO role at TCS.

Gopinathan, 52, has been with TCS for 22 years. He was elevated from the role of chief financial officer to CEO in February 2017 after his predecessor N Chandrasekaran was appointed as chairman of Tata Sons. In March 2022, Gopinathan was reappointed for a period of five years ending February 2027.

The outgoing CEO wished him success in a farewell note where he thanked all colleagues for their support over the last six years, in a note to employees on Monday.

During over a 33-year-long tenure at TCS, Krithivasan has held various leadership roles in delivery, customer relationship management, large program management and sales, and has successfully led TCS’ largest BFSI vertical in his most recent role. “I wish Krithi the very best as he takes over the TCS baton and charts the way forward to our $50 billion aspirations,” he wrote.

In an interview to ET in December last year, Gopinathan had reiterated his goal to double TCS revenue to $50 billion by 2030.

TCS had on March 17 announced the sudden resignation of Gopinathan and named banking and financial services president Krithivasan as CEO designate.

“I am grateful, I have had the privilege to helm the TCS journey over the last six years, and carry on the proud legacy of Kohli (FC Kohli), Ram (S Ramadorai) and Chandra (now Tata Sons Chairman N Chandrasekaran),” Gopinathan wrote in his farewell note. “I want to especially thank Chandra, our chairman, for his mentorship over the years.”

Discover the stories of your interest

ET has reviewed a copy of the note.Under Gopinathan’s tenure as CEO, TCS’s revenue increased from $17.5 billion in March 2017 to $27.9 billion in March 2023 while its market capitalisation almost doubled to $143 billion from $74 billion during the same time.

The change of leadership for TCS comes at a time when the IT services industry faces a lull in demand, a slowdown in hiring, ongoing inflation in Europe, and a shift of confidence in the banking ecosystem in the US…all amid a war in Ukraine.

Also read | In charts: Big three Indian IT companies get set for tough FY24

Krithivasan told ET in an interview earlier this year that while the global macroeconomic situation was uncertain, it was not challenging. “The thing to focus on is to stay close to customers, stay relevant to them, and offer them with new solutions,” Krithivasan had said. “And every time a crisis hits, actually, I personally believe we have come out stronger.”

He will have to cope with a few more senior level exits within a year.

Chief technology officer (CTO) K Ananth Krishnan, who was instrumental in changing the TCS model from outsourcing to a consulting focus, is retiring in October.

Chief operating officer (COO) NG Subramaniam, who has led TCS’s strategy in areas like artificial intelligence (AI) and fifth generation mobile network (5G) solutions, is also set to retire in May next year.

At 58, Krithivasan is among the senior-most candidates to be appointed to the CEO role at TCS.

Gopinathan, 52, has been with TCS for 22 years. He was elevated from the role of chief financial officer to CEO in February 2017 after his predecessor N Chandrasekaran was appointed as chairman of Tata Sons. In March 2022, Gopinathan was reappointed for a period of five years ending February 2027.