RAJESH GOPINATHAN TCS RESIGNATION
Unpacking K Krithivasan's first year as TCS CEO
TCS CEO K Krithivasan completed a year in office this month. His term was marked by an unprecedented slowdown in tech demand. The veteran, however, has brought growth and stability for the bellwether. Under his leadership, TCS reached $29.1 billion in annual revenues in the year ending this March, growing at 4.1%.
Infosys CEO Salil Parekh's annual compensation grew to Rs 66 crore in FY24
Infosys CEO Salil Parekh's annual compensation grew 17.3% in FY24 and reached nearly Rs 66 crore, as per the annual report of the company. In FY23, Parekh's salary was Rs 56.4 crore.
TCS CEO K Krithivasan’s remuneration at Rs 25 crore in FY24
K Krithivasan Earnings FY 24: In FY24, Tata Consultancy Services (TCS) CEO and MD K Krithivasan's total remuneration was Rs 25.2 crore, a decrease from former CEO Rajesh Gopinathan's Rs 29.16 crore in FY23. N G Subramaniam, the COO and ED at TCS, who is retiring this month, drew a total compensation of Rs 26.1 crore in FY24.
2023 Year in Review: top-level management rejig hit India’s IT services firms
From Infosys and TCS to Wipro and Tech Mahindra, top-level management in Indian IT majors underwent a major churn in 2023. ETtech looks at it.
IT companies take pole position on CEO pay front in India
C Vijayakumar, managing director and CEO of HCL Technologies, India’s third-largest IT services company by market cap, was the eleventh-highest paid, taking home $3.46 million, or about Rs 28 crore, (he is based out of the US) in FY23.
After BCG advisory role, ex-TCS CEO Gopinathan joins IIT Bombay as head of entrepreneurship
A translational research centre to support transition of IP from lab to industry was created recently. The new position of head, translational research and entrepreneurship has been created to further accelerate these initiatives, said the institute.
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Former TCS CEO Rajesh Gopinathan joins BCG in advisory role
Gopinathan has joined BCG as a senior advisor to the technology, media and telecom (TMT) practice. He will be advising in the capacity of an external consultant.
TCS rejigs top deck, Elizabeth Mathew named head of LeaD
This follows the streak of leadership appointments by CEO K Krithivasan since he took the helm at India's largest IT services company.
Krithivasan starts off strongly at TCS; analysts welcome his measured approach
Top officials close to the development said Krithivasan is preparing TCS to pivot towards artificial intelligence (AI) to ensure future readiness. This includes pushing innovation and incubation of start-up ideas, upskilling and cross-skilling employees with AI-based tools to leverage the potential arising from AI deployment in businesses.
Hefty pay! Top CEOs of IT companies earn up to Rs 82 cr in FY23
Wipro CEO Thierry Delaporte took home a remuneration of $10 million or Rs 82.2 crore during FY23. Delaporte is also the highest-paid CEO among his IT peers in FY23. During FY23, the shares of Wipro fell nearly 38%, while it saw its PAT dip by 7% during the same period.
Tech Mahindra may pick CitiusTech’s Atul Soneja as COO: sources
Soneja was heading Edge Products at Infosys when Mohit Joshi, managing director and CEO-designate at Tech Mahindra, was president at the Bengaluru-based software company.
K Krithivasan revamps TCS, amends Rajesh Gopinathan's strategy
Under new CEO, tech major also makes changes to leadership, aligns with business verticals
TCS has shown resilience in the face of intense geopolitical and economic volatility: N Chandrasekaran
Chandrasekaran thanked former CEO Rajesh Gopinathan for his contribution while wishing the newly appointed CEO K Krithivasan the best for his new role.
In charts: IT firms face uncertain times
As an indicator of the weakening market, Infosys chief executive Salil Parekh took a pay cut of 21% in FY23 whereas outgoing TCS chief executive Rajesh Gopinathan saw a pay hike of 13%.
Former TCS CEO Rajesh Gopinathan's salary saw muted growth in FY23
"TCS has done well in a volatile global environment in the year gone by," chairman N Chandrasekaran wrote in a letter to the shareholders. In FY 2023, TCS delivered a growth of 17.6%, at an industry-leading operating margin of 24.1%, he added.
TCS FY23 annual report highlights
Key highlights of the letter to shareholders by the Chairman & the CEO.
Gopinathan steps down as TCS CEO today, Krithivasan to take over on June 1
“I wish Krithi the very best as he takes over the TCS baton and charts the way forward to our $50 billion aspirations,” Gopinathan wrote in a note to employees on Monday.
Outgoing TCS CEO Rajesh Gopinathan reflects on company's transformation in farewell note
Gopinathan, who steps down on May 31 thanked colleagues for their support in a letter dated May 29. He added that the focus on operational rigour and strategic transformation has helped the company grow its revenue from $17.5 billion in March 2017 to $27.9 billion in March 2023 with market capitalisation growing from $74 billion to $143 billion during the same time.
Outgoing TCS CEO Rajesh Gopinathan in line for advisory role: sources
Tata Group sources, who did not wish to be identified, said there have been preliminary discussions between the two as the group needs reliable and experienced hands with its diversification into various technology domains.
N Chandrasekaran will continue to remain a mentor and guide: outgoing TCS CEO Rajesh Gopinathan
Rajesh Gopinathan, the outgoing CEO of TCS, said he would “continue to have a great relationship” with Tata Sons Chairman N Chandrasekaran, irrespective of whether “I am with the group or outside of it”, in an emphatic dismissal of all speculation surrounding his unexpected resignation on Thursday.
No dramatic transition; talent pool deep in TCS: incoming CEO K Krithivasan
Outgoing CEO Gopinathan said the decision to quit had taken centrestage for him a couple of months back and he initiated definitive discussions with the board and chairman about a week ago.
TCS CEO Rajesh Gopinathan unexpectedly resigns, K Krithivasan to take over; e-pharmacies look to make a case to health ministry
Under Gopinathan's tenure the IT services major's share rose over 160%. His resignation will be effective on September 15, 2023.
Up 160% during Rajesh Gopinathan's tenure, will TCS stock rally sustain after resignation?
While exits are possible, it must be pointed out that Krithivasan was a clear frontrunner in case Rajesh ever wished to step down. The question that we have been asked is why appoint Krithivasan when age is not on his side; after all, Krithivasan is 57 years old
Stepping down as TCS CEO a mixed feeling, says Rajesh Gopinathan
"There will definitely be near-term challenges that need to be taken care of, but Krithivasan has been taking care of the BFSI vertical for a long time. I believe as of now, one should not worry about change in the leadership," Gopinathan said and ET Now reported
Big rejig: TCS names K Krithivasan CEO designate as Rajesh Gopinathan unexpectedly resigns
Rajesh Gopinathan, Chief Executive Officer and Managing Director of Tata Consultancy Services (TCS), has resigned. K Krithivasan has been appointed as the CEO designate.
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