India's largest software services firm Tata Consultancy Services (TCS) today appointed V Ramakrishnan as Chief Financial Officer.
He succeeds Rajesh Gopinathan, who will take over as the CEO and MD of the Tata Group company tomorrow.
"...The Board of Directors at its meeting held on February 20, 2017 appointed V Ramakrishnan as the Chief Financial Officer of the company with effect from February 21, 2017," the Mumbai-headquartered company said in a BSE filing.
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Ramakrishnan, or Ramki as he is popularly known, joined TCS Finance in 1999, and served as the Finance Head of TCS North America for seven years.
"Ramki closely partnered with business in the rapid growth of TCS' operations in the region. Most recently, he has been responsible for the financial controllership of TCS subsidiaries and branches globally and various merger and acquisitions integration initiatives," the filing said.
Gopinathan will take over the reins of the USD 16.5 billion-company from N Chandrasekaran, who has been appointed as the Chairman of Tata Sons.
Earlier in the day, TCS announced a Rs 16,000 crore buyback, the largest till date in the Indian corporate history.
"Ramki has been a key member of the TCS Finance team for more than 17 years and has worked closely with me over the last nine years. I am confident that under Ramki's leadership, TCS Finance will continue to extend its leadership position," Gopinathan said.
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"Yet again TCS has demonstrated the ability to grow its own wood. With the succession of young Rajesh, TCS looks to the future with renewed confidence," Aman Mehta, Independent Director on the Board of TCS, said.
Speaking about his appointment to the Board, Gopinathan said it is a "privilege and honour" to lead the organisation.
"We are in a sweet spot as technology is becoming front and center in every industry. We will continue to invest ahead of the curve to develop capabilities, solutions and products to help our customers to transform their businesses for the digital age," he said.
Gopinathan added that the company's biggest strength is its talent base and that TCS will continue to engage and nurture them to create an "agile and responsive organisation".
Gopinathan had started his professional career with Tata Consultancy Services in 2001. He was appointed as Chief Financial Officer in February 2013.
TCS also announced that Chief Operating Officer N Ganapathy Subramaniam will be on the board of the company as Executive Director.
Subramaniam is currently the President of TCS Financial Solutions, a strategic business unit of TCS. He has been part of TCS and the Indian IT industry for 34 years.
