TCS re-appoints Rajesh Gopinathan as MD and CEO for five years

IT major Tata Consultancy Services on Thursday said that its board has re-appointed Rajesh Gopinathan as the Managing Director and Chief Executive Officer for five years, from February 21, 2022 to February 20, 2027.

The company has also re-appointed N Ganapathy Subramaniam as the Chief Operating Officer and Executive Director from February 21, 2022, to May 19, 2024, as per the retirement age policy of the Company.

“The company has hereby approved the re-appointment and terms of remuneration of Mr Rajesh Gopinathan as the Chief Executive Officer and Managing Director of the company for a further period of five years,” TCS said in a stock exchange filing.

Rajesh Gopinathan has been the CEO and MD of TCS since 2017, and under his leadership the company has strengthened its position with the revenues increasing from $17.6 billion in the financial year ended March 31, 2017, to $22.2 billion in the financial year ended March 31, 2021.

In this period, the company’s market capitalisation increased to Rs 14.19 trillion (equivalent to $190 billion), the company said, in its filing.

TCS said Gopinathan was paid remuneration of Rs 20.37 crore for the financial year 2020-21 while Subramaniam was paid remuneration of Rs 16.1 crore for the financial year 2020-21.

N Ganapathy Subramaniam has been “instrumental in guiding the company’s transformation towards enterprise agility, excellence, and rigor in operations, risk, and compliance, enterprise security besides strategic deployment of infrastructure and resources during the past years”, the Mumbai-headquartered company said.

TCS has requested members to consider the reappointment of both the COO and the CEO by April 16, 2022.

National Securities Depository Limited (NSDL) will provide remote e-voting facilities to its members. The remote e-voting will commence at 9.00 am (IST) on March 18, 2022, and end at 5.00 pm (IST) on April 16, 2022.

On Thursday, TCS’ scrip on NSE closed trading 0.5% higher at Rs 3,674.95.

TCS is among a clutch of software firms that’ve benefited from the pandemic and a subsequent shift toward automation, the cloud and e-commerce.

TCS is the crown jewel of Tata Sons Ltd., the holding company for one of India’s largest conglomerates.

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