Tcs ceo

IMAGE: Rajesh Gopinathan. Photograph: Francis Mascarenhas/Reuters Rajesh Gopinathan, who steps down as CEO and MD of India’s largest IT services firm Tata Consultancy Services (TCS) on Wednesday, in an e-mail to employees dubbed the past six years, when he was at the helm, “a period of tremendous growth and transformation”. Welcoming his successor K Krithivasan, Gopinathan wrote: “I wish Krithi the very best as he takes over the TCS baton and charts the way forward to our $50-billion aspiration. I am confident that TCS’s best years are ahead…” He wrote at length about the achievements of the company and the structural changes in the company during his stint at TCS. “This week marks the culmination of my two-decade-long journey with TCS. I will step down from my role as CEO & MD on May 31, 2023. It has been an absolute privilege to lead our company in the last six years, which have been a period of tremendous growth and transformation for all of us,” he wrote in the email. Although Gopinathan steps down from his role as CEO, he will be around for a smooth transition until September 16, 2023. According to sources in the know, Gopinathan and Krithivasan have been meeting with TCS’s major clients across geographies. Under Gopinathan’s leadership, TCS grew from a $17.5-billion revenue company in March 2017 to a $27.9-billion firm in March 2023. During this period, TCS’s market capitalisation grew from $74 billion to $143 billion. He also wrote about the structural changes and b...

PhonePe launches account aggregator service, allowing app users to share financial data The company’s chief operating officer N G Subramaniam earned a total remuneration of Rs 23.60 crore for FY23, up from about Rs 20 crore in FY22.The annual report said the increase in managerial remuneration is at 13.58 per cent as against the median hike of 5.11 per cent across its 6.14 lakh permanent employees. Chandrasekaran thanked Gopinathan and also wished the best for Krithivasan in his note, and said TCS is significantly investing in building AI capabilities which include products and platforms that are AI-powered. “We will also invest in research areas important for the future, in collaboration with our global academic partners and start-up ecosystem,” he added.Krithivasan, who has been with TCS for several decades, said he has interacted with customers, leadership teams and employees as part of the leadership transition and added that an order book of USD 34.1 billion, coupled with strong pipeline of replenishment, gives it a good visibility for the medium-term. Chandrasekaran also said that companies need to focus on building talent for the future as the energy, supply chain and AI (artificial intelligence) transitions are going to require companies to reskill or upskill existing talent base, hire and integrate new talent and invest in research.In his note to shareholders, Gopinathan spoke about overcoming the challenges on the HR front, and said TCS’ best years are ahead. “We...

India's largest IT firm in terms of market share, ₹30 crore to its former CEO Rajesh Gopinathan in the financial year FY23. This is an increase of nearly 13.2% on year-on-year basis. But Gopinathan who resigned from his chief executive post earlier this year, has seen his salary spike to nearly 118% in a span of 3 years. From 2019-20 to 2022-23, Gopinathan's salary skyrocketed by at least 117.94% in 3 years. Read here: In March this year, Gopinathan resigned from his post as CEO and MD at TCS pursue other interests. He has been replaced by K. Krithivasan who has over a three-decade of experience with the company and in the overall IT sector as well. The new CEO took charge at TCS from June 1, 2023. However, Gopinathan is not the one who received the highest hike on the TCS board of directors. It would be N G Subramaniam who received a 14.08% hike in FY23 in payscale, the highest among other board members. N G Subramaniam who serves as chief operating officer and executive director at TCS, took home a salary of ₹23.60 crore in FY23. He also holds the highest number of equity shares in TCS among other board members with 1,97,760 equity shares. Gopinathan has merely 2,760 equity shares in TCS as of March 31, 2023. Despite TCS being the largest tech company in India in terms of market share, Gopinathan's salary was far lower compared to other IT firms' CEOs. In its annual report for 2022-23, Infosys showed that its current CEO Salil Parekh earned a total fixed salary of ₹7.12 ...

India's biggest software services company Tata Consultancy Services has a new chief executive officer (CEO), K Krithivasan. An IIT-Kanpur alumnus, Krithivasan takes over from Rajesh Gopinathan who announced his sudden resignation earlier this year. Gopinathan will remain with the company till September 16 in an advisory role. 58-year-old Krithivasan is a TCS veteran, having been with the company for 30-plus years. He was previously president and global head of banking, financial services and insurance (BFSI) vertical that accounts for nearly a third of the company's revenue. In his first email to employees after stepping into the role on June 1, Krithivasan gave a sneak peek into the company's future bets as well as recounting the relationships he has built over the last 34 years at the company. The email is titled 'Let's script an exciting future'. Economic Times has reviewed a copy of the email. Here are key highlights: 'Let's script an exciting future' "As we step into the next phase of TCS, we will continue our investments in key and emerging areas like cloud, cybersecurity, 5G, IoT, generative AI, etc., with an unrelenting focus on customer relationships and impeccable delivery," he said talking about the key foucs areas of the company. "I have had the opportunity to work with many of you and built long-lasting friendships which I cherish the most," Krithivasan said in the email. "I have also had the opportunity to work with many of our key clients across different ge...

Tata Consultancy Services (TCS) on June 1 welcomed its new CEO and MD — K Krithivasan, the company’s fifth CEO since it was set up in 1968. The fact the IT giant has had only five CEOs in its 55 years of history shows it is a stable ship and is a testimony to the stability and quality of its management. During his long tenure at TCS, he has held various leadership roles in delivery, customer relationship management, large programme management and sales. Prior to his elevation as CEO and MD, Krithivasan was the President and Global Head of the BFSI vertical, which contributes 32 percent to the firm’s revenue. It seems the key expectation from him may be to make TCS grow faster than its peers. While there is no doubt, under Gopinathan as CEO, TCS delivered a strong financial performance, with revenue growth of 11.5 percent and constant currency revenue growth of 8.8 percent over the last six years, but its peer Infosys has grown even faster than TCS over the last four years even TCS maintained its margin supremacy.

Express News Service BENGALURU: IT major Tata Consultancy Services (TCS) CEO and MD Rajesh Gopinathan has received Rs 25.76 crore total compensation in FY22. This is nearly a 27% jump from his previous pay- Rs 20.36 crore in FY21. According to the company’s annual report, Gopinathan received a salary of Rs 1.51 crore, benefits, perquisites and allowances of Rs 2.25 crore and commission of Rs 22 crore. TCS chief operating officer and executive director N Ganapathy Subramaniam received a salary of Rs 1.44 crore, benefits, perquisites and allowances of Rs 2.24 crore and commission of Rs 17 crore. His total compensation in the last fiscal stood at Rs 20.7 crore, which is a 29% jump from his previous compensation of Rs 16 crore. Gopinathan was appointed for 5 years in 2017, and was re-appointed for a period of five years till February 20, 2027. As per the company, for employees, average annual increase in salary was 5-8% in India. “However, during the course of the year, the total increase is nearly 10.5%, after accounting for promotions and other event-based compensation revisions,” TCS said. The percentage increase in the median remuneration of employees in 2021-22 was 4.24%. Also, according to the report, Gopinathan’s compensation is 397 times the median remuneration of the staff, which is a 26.52% increase in the financial year. In the previous year, the ratio was 327:1. “At our current pace of growth, it is only a matter of time before we double our revenues and hit the $5...

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