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If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

Strife At The Top: These
11 C-Suite Execs From India
Were ‘Let Go’ In 2013

<ul><li>IT company <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> has reported a muted September quarter earnings as profit declined marginally by 1%.</li><li>While talent shortage remains a concern for the entire IT industry, Tech Mahindra is into a bigger problem with the highest attrition rate in the industry so far.</li><li>The company has announced a special dividend of ₹15 per share.</li></ul>At a time when information technology (IT) companies are enjoying overwhelming demand for digital transformation across sectors, talent crunch is one big issue hurting their margins and expenses. Pune-based IT firm Tech Mahindra is no different from other IT companies in terms of high attrition rate. In fact, it is into a worse problem with attrition rate at 21% almost double to IT giant <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> for the July-September quarter. Tech Mahindra faces highest attrition rate in the industry <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Peers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attrition rate in Jul-Sep </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody></table> To mitigate the high number of employees leaving the organisation, Tech Mahindra has deployed measures such as broad-based hikes, promotions and retention incentives to stem the attrition. A survey done by Tech Mahindra on its employees found that employees who were leaving the organisation were from Tier-I cities. “Attrition in some of India's bigger cities is high whether it is Bangalore, Hyderabad, or Pune. We have also done an analysis to know that the attrition is much much lower when it comes to Bhubaneswar and Nagpur...We anticipate a certain amount of attrition, hence plan for hiring or reskilling or upskilling a little ahead of time,” said C.P. Gurnani, chief executive officer and managing director of Tech Mahindra at a press conference after the earnings release. Tech Mahindra added 14,930 employees between July and September, taking the total employee count to 1.41 lakh. The company reported a fall in profit in the last three months. However, investors seem to have already factored in poor profit growth as shares of the company were trading lower in the early hours of trade on October 25, ahead of earnings release. The information technology (IT) firm’s second quarter profit fell marginally by 1% to ₹1,339 crore. Analysts had expected the profit growth to remain flat with a <a href="https://www.moneycontrol.com/news/business/stocks/tech-mahindra-shares-trade-lower-ahead-of-q2-earnings-7621931.html">reportedly</a> marginal rise of 2% quarter-on-quarter due to the impact of higher employee costs on margins. The company has announced a special dividend of ₹15 per share in the earnings release. Also, the IT firm announced the acquisition of California-headquartered Infostar (Lodestone) for which it will pay a total consideration of up to $105 million. Lodestone is a digital engineering quality assurance provider for new-age digital companies. The acquisition will bolster Tech Mahindra’s digital engineering capabilities to effectively utilise data strategy and address machine learning challenges, said the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/soon-to-be-listed-nykaa-plans-to-expand-to-middle-east-and-the-uk/articleshow/87257541.cms">Soon-to-be listed Nykaa plans to expand to Middle East and the UK</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/berger-asian-shalimar-and-indigo-paints-share-price-down-from-last-five-days/articleshow/87254637.cms">Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up</a>

Tech Mahindra's attrition rate is nearly twice that of TCS

BANGALORE: <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> president BG Srinivas is highlighting growth and opportunities in Europe, a region he used to head, while the company searches within and outside for its first non founder chief executive. 
 
Srinivas, who was made one of the two presidents of Infosys in January with responsibility for most client-facing functions, was especially bullish about Nordic countries where he said the company may look at acquisition targets. And in Europe as a whole the aim is to increase revenue contribution to 30% from 25% now. 
 Within a decade, revenue from Europe has increased nearly tenfold to $2 billion, far higher than for <keyword id="818790" type="UNKNOWN" weightage="40" keywordseo="the-rest">the rest</keyword> of Infosys, he said, talking up his ability to drive growth in key markets and industry verticals. A 15-year veteran of Infosys, he has been head of Europe since 2004, the year the company crossed the $1-billion revenue milestone. "Very few companies have created that kind of growth story in Europe. 
 
It didn’t happen because of sheer chance," he said. "Our consulting-led business in Europe is far ahead of Infosys." 
 Srinivas, 53, said Infosys’s next acquisition could be similar to Lodestone, the Zurich-based management consultancy firm it bought in 2012 for $350 million. "We may look at something like a Lodestone in Nordics," he said, referring to a region that comprises Denmark, Finland, Iceland, Norway and <keyword id="23050" type="COUNTRY" weightage="40" keywordseo="Sweden">Sweden</keyword>. 
 
A board member since 2011, Srinivas was made president along with UB Pravin Rao who has been given oversight of most delivery functions. 
 
Many analysts and industry executives believe that Srinivas is a strong contender to succeed SD Shibulal as the first non-founder CEO of Infosys because of his experience in winning large outsourcing contracts. 
 Every key vertical has a fullfledged <keyword id="162356" type="POSITION" weightage="40" keywordseo="senior-manager">senior manager</keyword> focussing only on Europe, Srinivas said, and structurally Europe has been aligned as a separate market. In France and Germany the company has been presenting a local face as well as domain expertise, with sales and consulting teams working closely. 
 
One of the ways to grow Infosys revenue, he said, is to expand the company’s local presence in non-English-speaking European markets, especially the Nordics and Benelux (Belgium, Netherlands, Luxembourg), where it plans to appoint a regional head and local sales team over the next six months. 
 
Another plan is to grow sales from the products, platforms and solutions (PPS) unit that Infosys plans to make into a separate subsidiary after shareholders approve the plan at the next annual general body meeting. "We will definitely focus on accelerating PPS growth rate far higher than rest of Infosys so its percentage contribution to Infosys will increase," he said.

You Searched For "Infosys Lodestone" and got 3 results

Strife At The Top: These 11 C-Suite Execs From India Were ‘Let Go’ In 2013

Sanghamitra Mandal

Tech Mahindra's attrition rate is nearly twice that of TCS

Bhakti Makwana

Infosys May Eye Acquisitions In Nordic Countries, Says President BG Srinivas

Economic Times

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