Rajesh Gopinathan, Tata Consultancy Services' outgoing CEO, penned an emotional note to employees ahead of his departure on May 31.In a note dated May 29, Gopinathan recounted the company's growth during his tenure, stating that the software firm grew revenues by $10.4 billion and claiming that dividends and share repurchases returned $27.3 billion to shareholders.

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As he steps down and hands over the baton to K Krithivasan on June 1, he reflected on his 22 years at the company in an email to employees and said that the best days are ahead.

“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' best years are ahead, and I look forward to cheering all of you and your continued success from outside,” he said.

In a farewell message, the departing CEO proudly proclaimed TCS as a trailblazer in the industry, setting the pinnacle of excellence when it comes to financial performance.

According to the CEO, TCS' unwavering commitment to operational rigor, strategic transformation, innovation, and profitable growth has propelled the company to remarkable heights and helped TCS grow revenues from $17.5 billion in March 2017 to $27.9 billion in March 2023.”

The CEO also highlighted the increase in market capitalization, skyrocketing from $74 billion to $143 billion during the same period.

Gopinathan looked back on his time at the company, saying that this week marks the culmination of his two-decade-long journey with TCS. “I will step down from my role as CEO & MD on 31 May, 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.”

Also read: TCS Q4 Results: Revenue growth was about a third of what we anticipated, says outgoing CEO Rajesh Gopinathan

As part of his tenure as CEO, Gopinathan said the company redefined its service portfolio and market positioning, developed newer capabilities and services, and increased client engagement.

“We also undertook an ambitious redefinition of TCS' service portfolio and market positioning by introducing the Business 4.0 and Growth & Transformation frameworks to integrate our technology services offerings with greater focus on business value delivered," he said.

"Awareness, articulation and amplification of the value we deliver is going to be critical for our success in the years ahead...In a world of Al and automation, our ability to continuously enhance and leverage contextual knowledge is what will differentiate us and position us as the partners of choice for our customers," he added.

Gopinathan stressed on the company’s focus on Agile, Automation and cloud, terming the company capitalising on the cloud opportunity as helping it emerge as top global partner of all three leading cloud providers. “Combining this with increasing investments and focus on our field sales teams helped us expand our customer base across markets and increase the number of customers, contributing more than $100 million in annual revenue from 35 to 60,” he said.

Also read: TCS plans to double employees salaries by upskilling them and reduce pay disparity

In March Gopinathan, tendered his resignation after a successful six-year stint. K Krithivasan was appointed as the Chief Executive Officer-designate, effective from March 16, 2023

The street was taken by surprise by this development as just last year, in March 2022, Rajesh was reappointed as MD and CEO for a period of five years which ends only in Feb 2027.

The leadership change in this case is likely to be a smooth transition, as Gopinathan will continue with the company till September 15, 2023, to provide transition and support to his successor Krithivasan. And true to the tradition of TCS, the new CEO is also an insider. Krithivasan is presently President and Global Head of the Banking, Financial Services, and Insurance (BFSI) Business Group at TCS. BFSI is the largest vertical for TCS and contributes around 32 percent to its overall revenues.

Krithivasan is also a TCS insider and has been part of the global technology sector for over 34 years, having joined TCS in 1989. During his tenure at TCS, he has held leadership roles in delivery, customer relationship management, large program management and sales.

Also read: Rajesh Gopinathan's resignation as TCS MD & CEO takes the street by surprise

First Published:May 30, 2023 2:59 PM IST