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TCS chief Rajesh Gopinathan has put in his papers, nearly four years ahead of the completion of his tenure, and will be replaced by company veteran Krithi Krithivasan.
The country's largest software exporter on Thursday said Krithivasan has been nominated as the CEO designate with immediate effect while Gopinathan, who has been at the helm for six years, will continue with the company till September 15 to provide transition and support to his successor.
TCS shareholders in April 2022 had approved the appointment of Gopinathan for five years, ending February 20, 2027.
"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," the company said in a statement.
This is the second major leadership change in the Indian IT sector within a week.
Last week, Infosys president Mohit Joshi quit the firm and joined Tech Mahindra as MD and CEO designate to take over the charge from CP Gurnani, who will retire in December.
TCS has nominated its current president and Global Head of the Banking, Financial Services, and Insurance (BFSI) Business Group, K Krithivasan as CEO designate with immediate effect.
"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," the statement said.
During the tenure of Gopinathan as managing director and CEO, TCS gained $10 billion in incremental revenues.
TCS chairman Natarajan Chandrasekaran said that Gopinathan provided strong leadership to the company.
“Over the last 6 years, Rajesh has provided strong leadership as the MD & CEO and has laid the foundation for the next phase of TCS' growth with significant investments in cloud, agile and automation to help clients accelerate their transformation. I am deeply appreciative of Rajesh's enormous contribution to TCS. I wish him the very best for the future," he said.
Gopinathan took the reins of TCS from Chandrasekaran who was elevated to the post of Tata Sons chairman in February 2017.
"The last six years of leading this iconic organisation have been most enriching and fulfilling, adding over $10 billion in incremental revenues and over $70 billion increase in market capitalisation.
"I have been harbouring a few ideas on what I want to do in the next phase of my life.
“After deep reflection and in discussion with the chairman and the Board, we decided that the end of this fiscal year is a good time for me to step aside and pursue those interests," Gopinathan said.
Krithi