IT services giant Tata Consultancy Services Ltd. announced managing director and CEO Rajesh Gopinathan will step down from his role to pursue other interests. He will continue with the company till Sept. 15 to provide transition and support to his successor. 

Gopinathan joined India-based TCS in 2001 and held several leadership positions, including CFO, before attaining his current role in 2017. He was reappointed last year as CEO until 2027.

According to Reuters, under Gopinathan’s leadership, TCS shares have nearly tripled in value, revenue has almost doubled and profit has risen about 60%, as of last quarter.

In January, the group reported revenue rose 8.4%, as measured in US dollars, in its fiscal third quarter ended Dec. 31, 2022, to a total of $7.08 billion.

“I have thoroughly enjoyed my exciting 22-year tenure at TCS,” Gopinathan said. “It has been a pleasure working closely with [TCS chairman] Chandrasekaran, who has mentored me through this entire period. The last six years of leading this iconic organization have been most enriching and fulfilling, adding over $10 billion in incremental revenues and over $70 billion increase in market capitalization.”

To take over from Gopinathan, the company board has nominated K. Krithivasan as CEO, effective March 16. Krithivasan will work closely with Gopinathan during the transition period and will be appointed as the managing director and CEO in the next financial year. Krithivasan joined TCS in 1989 and currently serves as president and global head of the banking, financial services and insurance business group. Additionally, Krithivasan serves on the boards of TCS Iberoamerica and TCS Ireland as well as the supervisory board of TCS Technology Solutions AG.  

“Having worked with Krithi over the last two decades, I am confident that he is best positioned to take TCS to greater heights along with the leadership team. I will be working closely with Krithi to give him all the support that he needs,” Gopinathan said.