Confident of doubling customer deliveries: TCS-designate K Krithivasan
The country’s largest software services company TCS-designate CEO K Krithivasan said on Friday that the company will undergo a radical strategic change when it gets a new chief and looks positive about doubling the supply of customers. There is no culture to do.
In a surprise announcement on Thursday, the $25 billion software giant said CEO Rajesh Gopinathan, more than six years into his second five-year term, has decided to step down from September 15. The IT major also said that Krithivasan, president of its BSFI vertical, which contributes 31.5 per cent to its top-line, will lead the company as CEO-designate with immediate effect.
Rajesh Gopinathan, 52, said this is his first resignation and has not written a resume since his campus days as he joined Tata Industries 27 years ago and TCS 22 years ago. He did not reveal his plans after September 15.
The sudden departure of Rajesh Gopinathan did not affect the TCS counter much.
On Thursday, the stock opened at Rs 3,151 after closing at Rs 3,184.75 on the BSE. After touching an intra-day high of Rs 3,194, the stock fell 0.62 per cent to Rs 3,165.
Sensex constituent TCS has a market valuation of Rs 11,58,419.07 crore on the BSE.
The company closed at Rs 3,169.90, down 0.47 per cent, on the NSE. It opened at Rs 3,150.50 on Thursday after closing at Rs 3,185 at the end of the day.
“Our core principle has been and will continue to be working with our customers and it will continue under me. I do not expect or you (media) should expect any major strategic changes under me,” Krithivasan, 58, said on Friday. Interacted with reporters through video conferencing. Outgoing CEO Rajesh Gopinathan was also present in the video conference.
“In fact, when TCS gets a new CEO, it doesn’t have the culture to make radical strategic changes. We will continue with that while focusing on the customers. But of course, there will be changes as the market demands from us to make does.” He said, our culture of ‘one team’ will be the main focus.
“It is a continuum, we do not change strategically when a new CEO comes in. But we will change according to our customers and how the market changes. We will not make small changes but will continue to work on our core focus. ” Being with the customers,” he elaborated.
“I expect to double my deliveries,” he said.
Rajesh Gopinathan said that he had a wonderful 22 years at TCS.
“And decided to go ahead, which was taken after much deliberation with family and group president and my mentor N Chandrasekaran, I feel much lighter now.
“During the last six years, I thrilled the TCS team. And I enjoyed every day I spent with the company. But today I have mixed feelings. Yes, I am also a little sad because reality is setting in and Also I feel very light now,” he said.
During his six years, he added more than $10 billion in incremental revenue to the company and more than $70 billion to its market capitalization. In the first nine months of this financial year, they reported a revenue growth of 14.8 per cent in constant currency terms, which is the best in the industry.
On the timing of his resignation, Rajesh Gopinathan said, “We are in the most stable times considering what we have seen in recent years. There are definitely some ups and downs. For me to announce the decision before It was important to do.” beginning of the new fiscal year.” He declined to reveal his plans, other than to say “there are many ideas for the future”.
“I feel so much happier and lighter now it’s completely release free, but a week ago it was eating me up a lot. Also, it’s always good to go when it’s good to go, not when When everyone is pushing for my ouster.” They said.
“It was logical to follow the timing now. I was meeting Chandra time and again and telling him that I wanted to move on. So it is better to pull the trigger now. Yes, TCS is an integral part of who I am and so is Is.” group for me. There was never a second thought. And I am sure my contribution to TCS will be lasting. In the last 22 years, I have never thought of anything other than TCS,” said Rajesh Gopinathan as he turned emotional.
Priority now, he said, “My immediate priority is that Kriti progresses smoothly and I will be 100 per cent available for that”.
Krithivasan, who has been with the company for the past 37 years, takes a lighter note on the challenges of change, saying that the shift out of Chennai will be more challenging than the job of CEO.
He added, “The transition is not a rocket science as we have a stable team and we have worked together for so many years. Most importantly, some business verticals I know very well and the rest I will learn from Rajesh.” Our customers and stakeholders are key to our success and that will be my main focus – doubling our delivery. We have plenty of leaders to replace me in the BSFI vertical and we do not expect any dramatic changes going forward. Our core philosophy has been and will continue to be serving customers.”
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)