K. Krithivasan has officially taken over as the new CEO of Tata Consultancy Services (TCS), India’s largest information technology (IT) services firm by market cap. The appointment follows the stepping down of Rajesh Gopinathan, and industry experts have suggested that the change in leadership is not expected to cause any instability for the company, with policies and strategic decisions to continue as before. Krithivasan, who has been with TCS for over 34 years, will be the oldest CEO appointment to date, having previously served as the president and head of global banking, financial services and insurance (BFSI) business. The BFSI sector accounts for around 30% of the IT services industry’s revenue for the six large-cap entities in India, with TCS deriving over 38% of its total revenue from the sector. Experts predict that TCS may sign larger multi-year client contracts valued at over $1 billion going forward, with a focus on cost optimization and consolidation in the industry.
New CEO appointed at TCS: Krithivasan takes charge
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