Gopinathan’s sudden exit after just a year in his second five-year term as CEO of the IT giant sent shockwaves among investors and analysts. Multiple brokerages – including Morgan Stanley, Citi and Motilal Oswal – said the resignation was surprising.
Before the stock market opened for business on Friday, TCS had Gopinathan (52) and his successor K Krithivasan (58) Address the media on sudden changes. TCS shares opened with a loss of over 1%, but recovered losses to close 0.2% lower at Rs 3,179 on the BSE.
On the timing of his exit, Gopinathan said that he had taken his decision a week ago even as he was in consultation with the TCS chairman. N Chandrasekaran About closure and moving on. Gopinathan took over the reins from Chandrasekaran in February 2017, when the latter was elevated to the position of chairman.
Gopinathan’s first five-year term as TCS CEO ended last year and he was reappointed for another five years till February 2027. said Gopinathan, who started his career with the Tata Group in April 1996. He joined TCS in 2001 from Tata Industries.
“I don’t know what I am going to do (in future). I never wrote my resume after campus. Tata and TCS have been integral to who I am. And whatever I do, they will be part of my life in future as well.” Will be an integral part of.
Asked by TOI whether he would take up an advisory role in the Tata group, Gopinathan said he hated all kinds of mentorship when he was in an operational role. But their respect for him is growing rapidly. “I’ll see if anything comes out of it but as of now, I have no plans.”
Gopinathan’s employment contract with TCS requires him to give six months’ notice if he resigns. This period ends on September 15, after which Krithivasan will assume the role of CEO.
Krithivasan said he will work with Gopinathan over the next few months to understand all parts of the business and that he does not intend to make any dramatic changes to the organization’s current strategy. “It is a continuum. It is not that we come into TCS with a new strategy or a new set of priorities, because every CEO changes.