TCS Announces Senior Leadership Changes, Appoints New Chief Marketing Officer

According to the TCS's BSE filing on Saturday, Rajashree R, the Chief Marketing Officer (CMO), will step down from her position on July 31.

The country's largest IT service provider Tata Consultancy Services (TCS) has announced significant changes to its senior leadership positions, effective from August 1, 2023. These changes come after the appointment of K Krithivasan as TCS' CEO and MD. Krithivasan previously served as the global head of the company's banking, financial services, and insurance (BFSI) segment. 

According to the TCS's BSE filing on Saturday, Rajashree R, the Chief Marketing Officer (CMO), will step down from her position on July 31. Furthermore, K Ananth Krishnan, the company's Chief Technology Officer and Executive Vice-President, is set to retire on July 31.

The company also announced that chief services innovation officer Dr Harrick Vin will take over as a Senior Management Personnel (SMP). He has been working with TCS for over 30 years and has experience in academia and industry. Prior to this role, Harrick headed TCS Digitate.

The IT major has also appointed several other long-time employees as Senior Management Personnel (SMPs) effective from August 1. These appointees include Shankar Narayanan, V Rajanna, Siva Ganesan, Ashok Pai, and Reguraman (Regu) Ayyaswamy. 

According to a MoneyControl report, TCS CMO Rajashree R is transitioning to become a Vice-President at the firm, while her position will be filled by Abhinav Kumar, a veteran with over 21 years of experience. Kumar had previously held the same position but focused solely on the Europe market, the report said. 

The new leadership appointments come amidst TCS' efforts to navigate a challenging macro environment and increasing uncertainty surrounding deal conversion timelines, the report mentioned. Earlier in an interview, CEO Krithivasan said that achieving double-digit growth in FY24 could be challenging.

It's worth noting that TCS was recently entangled in a bribery scandal, leading to the termination of 6 employees and the banning of six staffing firms. The company is currently investigating 3 more employees, and it is also reviewing its entire supply management and reorganizing some of its senior staff in the Resource Management Group (RMG) division.

TCS in its Q1 results reported a 16.8 per cent increase in net profit on a year-on-year basis (YoY), driven by strong growth in total contract value (TCV) deal wins despite a tough business environment. The company's consolidated revenue for the quarter also witnessed a significant surge of 13 per cent YoY.