TCS Managing Director (MD) and Chief Executive Officer (CEO) Rajesh Gopinathan has resigned, the IT services firm announced in a statement.

K Krithivasan has been named as the IT giant’s new CEO designate, the company announced.

Mr. Krithivasan has been with the company for over 34 years, serving as President and Global Head of the Banking, Financial Services, and Insurance (BFSI) Business Group. TCS stated that he has held various leadership roles in delivery, customer relationship management, large programme management, and sales during his long tenure with the company.

After a 22-year tenure with TCS, six of which he spent as MD & CEO, Mr. Gopinathan is leaving. Gopinathan will continue working for the company until September 2023.

TCS released a statement in which it stated that Gopinathan would continue until September 2023 to support and assist his successor.

After a period of adjustment, K Krithivasan will take over as CEO for the upcoming fiscal year.

“My thrilling 22-year employment with TCS has been a definite highlight. Chandra, who has been my mentor throughout this entire process, and I have enjoyed our close collaboration. I have had the most rewarding and gratifying six years as the head of this venerable organization, adding over $10 billion in additional revenues and over $70 billion in increased market capitalization”, in a statement, Gopinathan said.

The conclusion of FY23 is a good moment to stand aside and follow those interests, he continued, adding that he has been toying with the idea of doing something else.

“Having worked with Krithivasan for the past 20 years, I am sure that he is best suited to lead the leadership team and TCS to new heights. I will work closely with Krithivasan to provide him with all the support he requires”, he added.

Also read: UK Bans TikTok On Government Devices Over Security Concerns