K Krithivasan, the CEO-designate of TCS, has stated that the company does not have a culture of making radical strategic changes when a new CEO takes over. Instead, the focus will be on doubling down on customer deliveries. The announcement of Rajesh Gopinathan's resignation as CEO, with four years left on his second five-year term, came as a surprise. Krithivasan, who is currently the president of TCS's BSFI vertical, which contributes 31.5% of the company's top line, will take over as CEO-designate with immediate effect.
Gopinathan, 52, has been with Tata Industries for 27 years and TCS for 22 years. He stated that this is his first resignation and he has not written a resume since his campus days. He did not disclose his plans after September 15. The news of his departure did not have a significant impact on TCS's stock prices.
TCS's stock opened at Rs 3,151 on the BSE, a decline from its previous close of Rs 3,184.75 on Thursday. The stock reached an intra-day high of Rs 3,194 before dropping 0.62% to Rs 3,165. As a key constituent of the Sensex, TCS's market valuation on the BSE was Rs 11,58,419.07 crore. On the NSE, the company's stock was down 0.47% to Rs 3,169.90 after opening at Rs 3,150.50, following the previous day's close at Rs 3,185.
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