TCS Managing Director and Chief Executive Officer Rajesh Gopinathan has resigned, company announced in a statement.

K Krithivasan has been named the IT behemoth’s next CEO designate, the company announced.

Krithivasan is the company’s current President and Global Head of the Banking, Financial Services, and Insurance (BFSI) Business Group, and has been with the company since 1989. TCS stated that he has held different leadership responsibilities in delivery, customer relationship management, big programme management, and sales over his long employment with the organization.

Gopinathan, in a statement said “”I have thoroughly enjoyed my exciting 22-year tenure at TCS. It has been a pleasure working closely with Chandra, who has mentored me through this entire period. The last six years of leading this iconic organization have been most enriching and fulfilling, adding over $10 billion in incremental revenues and over $70 billion increase in market capitalization.”

He went on to say that he has been “harbouring a few ideas” about what he wants to accomplish next, and that the end of FY23 is a good moment to stand away and follow those interests.
“Mr. Gopinathan will continue to provide transition and assistance to his successor until September 2023,” TCS stated in a statement.

K Krithivasan will go through a transition period before being appointed CEO in the following fiscal year.

By the end of 2023, at least three of India’s largest IT services organisations, including HCL, TCS and Infosys will have new occupants in their corner offices. Or even more. The departing executives are software services industry veterans, having worked for their respective organisations for at least two decades apiece, bringing a lot of experience to their new positions. Another is stepping down after a 14-year tenure at the helm.