TCS says K Krithivasan to take over from Gopinathan as CEO from June 1, 2023

K Krithivasan will take over as the new CEO and MD from June 1, 2023, Tata Consultancy Services (TCS) said on Wednesday. The term of his appointment is for a period of 5 years. "The Board of Directors of the Company have, at its meeting held today, appointed Mr. K. Krithivasan as the Chief Executive Officer and Managing Director of the Company to take over from Mr. Rajesh Gopinathan with effect from June 1, 2023," TCS said in a statement.

Also read: TCS Q4 results, dividend: Profit jumps 15% to Rs 11,392 crore; Rs 24 dividend announced

Krithivasan, who was the President and Global Head of the Banking, Financial Services, and Insurance Business Group at TCS, was elevated to the role of CEO and MD last month after Rajesh Gopinathan decided to step down from the company "to pursue his other interests".

Krithivasan has been part of the tech giant for over 34 years, having joined TCS in 1989. During his long tenure at TCS, he has held various leadership roles in delivery, customer relationship management, large program management, and sales. 

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Presently, Krithivasan is the CEO-Designate and Global Head of BFSI Business Group at TCS. In a statement on March 16, TCS said that the outgoing CEO Gopinathan would continue with the company till September 15, 2023. Krithivasan will go through a transition with Gopinathan and would be appointed as the MD and  CEO in the next financial year, the company had said.

Today, TCS announced its results for the Jan-March quarter of 2022. The company reported a 14.76 per cent year-on-year (YoY) rise in consolidated net profit at Rs 11,392 crore from Rs 9,926 crore in the same quarter last year. The IT giant reported a 16.94 per cent YoY jump in consolidated sales at Rs 59,162 crore, slightly slower than the expectation of about 20 per cent.

Commenting on the results, Gopinathan, the outgoing CEO, said: "It is very satisfying to look back at our strong growth in FY 2023, on top of the mid-teen growth in the prior year. The strength of our order book demonstrates the resilience of demand for our services and gives us visibility for growth in the medium term." 

"Krithi and I are working closely to ensure that the leadership transition over the next few months is smooth and seamless to all our stakeholders and that TCS is well positioned to capture the opportunities ahead," he said. 

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