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Former <keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword> CEO Rajesh <keyword id="221979" type="General" weightage="100" keywordseo="gopinathan" source="Orion">Gopinathan</keyword>'s overall remuneration jumped 13.17 per cent to Rs 29.16 crore in FY23, his last year as the chief executive of the largest IT services player. In the annual report for the fiscal year 2022-23, TCS said Gopinathan earned over Rs 25 crore as commission, a salary of Rs 1.73 crore and Rs 2.43 crore in other benefits. Gopinathan, who helmed the company for six years till May 31, had earned a salary Rs 25.76 crore FY22. Despite heading the largest company, Gopinathan's pay cheque is lower compared to peers and also lower than what his predecessor <keyword id="97017" type="General" weightage="50" keywordseo="n-chandrasekaran" source="Orion">N Chandrasekaran</keyword> drew in FY17 before being appointed as the Tata Sons Chairman. On his elevation to the CEO's seat from being a chief financial officer, Gopinathan drew Rs 6.22 crore in FY17 which doubled to Rs 12.5 crore in FY18 and had been steadily rising since but for a blip in FY20. Gopinathan has committed to help TCS in the leadership transition by being available till September, and is yet to reveal his future plans. K <keyword id="16817833" type="General" weightage="50" keywordseo="krithivasan" source="Orion">Krithivasan</keyword>, Gopinathan's successor, will be getting a basic salary of Rs 10 lakh per month which can go up to Rs 16 lakh, commission as decided by the board and other benefits like rent-free residential accommodation. The company's chief operating officer N G Subramaniam earned a total remuneration of Rs 23.60 crore for FY23, up from about Rs 20 crore in FY22. The annual report said the increase in managerial remuneration is at 13.58 per cent as against the median hike of 5.11 per cent across its 6.14 lakh permanent employees. Chandrasekaran thanked Gopinathan and also wished the best for Krithivasan in his note, and said TCS is significantly investing in building AI capabilities which include products and platforms that are AI-powered. "We will also invest in research areas important for the future, in collaboration with our global academic partners and start-up ecosystem," he added. Krithivasan, who has been with TCS for several decades, said he has interacted with customers, leadership teams and employees as part of the leadership transition and added that an order book of USD 34.1 billion, coupled with strong pipeline of replenishment, gives it a good visibility for the medium-term. Chandrasekaran also said that companies need to focus on building talent for the future as the energy, supply chain and AI (artificial intelligence) transitions are going to require companies to reskill or upskill existing talent base, hire and integrate new talent and invest in research. In his note to shareholders, Gopinathan spoke about overcoming the challenges on the HR front, and said TCS' best years are ahead. "We broke out of the vicious cycle of hiring and counter-hiring within the industry by investing in onboarding an unprecedented number of fresh engineers," he said, pointing out that it hired 1.10 lakh fresh engineers in FY22 and 44,000 in FY23. Its global head for human resources, Milind Lakkad, said half of its over 6 lakh workforce has been hired since March 2020 and underscored the need for staff to return to working from offices. "New employees get acculturated through physical interactions with senior colleagues and leaders, by observing and following their behaviors and ways of thinking. Without those interactions, employee engagement as well as acculturation got badly impacted," Lakkad said. Amid the talk of newer technologies like generative AI, Lakkad said the "linearity" between revenue and headcount is not going to go away any time soon. "With ever-increasing dependence on technology for competitive differentiation, we expect enterprise spending to keep growing, for which we will have to keep hiring new talent," he said. The company scrip was trading 0.89 per cent up at Rs 3263 a piece on the BSE at 1348 hrs as against gains of 0.27 per cent on the benchmark. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-looking-to-grab-opportunities-arising-due-to-global-shifts-in-energy-and-supply-chain-says-chandrasekaran/articleshow/100815501.cms">TCS looking to grab opportunities arising due to global shifts in energy and supply chain, says Chandrasekaran</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-jimny-vs-honda-elevate-comparison-of-features-and-style/slidelist/100815083.cms">Maruti Suzuki Jimny vs Honda Elevate – Which SUV suits your need</a>

Former TCS CEO Rajesh Gopinath got a 13% pay hike last financial year

Chief of <a href="http://www.businessinsider.in/searchresult.cms?query=TCS&amp;sortorder=effectivedate">Tata Consultancy Services</a> (TCS) N Chandrasekaran’s pay package is definitely an envious one. 
 
The TCS CEO’s <a href="http://www.businessinsider.in/searchresult.cms?query=pay+package&amp;sortorder=effectivedate">pay package</a> rose to 20 per cent in FY 2016, this means now he earns whopping Rs 25.6 crore, which is 459 times company's median remuneration. 
 
Chandrasekaran's compensation is also up from 416 times in FY15. 
 
Meanwhile, Chief Financial Officer Rajesh Gopinath's compensation increased around 39% to Rs 2.98 crore. 
 
The median salary increase for TCS' 353,843 employees was 9.2% in the same year. 
 
Meanwhile, <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Infosys' Vishal Sikka</a> earned $7.45 million in FY16. His compensation is expected to rise to $11 million a year starting January 2017. 
 
(Image: Thinkstock)

TCS chief Chandrasekaran’s pay is 459 times company’s median level! Here’s how much he earns

New Delhi, India's IT services heavyweights delivered between 14-20 per cent on-year growth in topline for December quarter, as they raised guard on global uncertainties and choppy verticals, but remained hopeful that costs as well as business considerations will drive tech demand. The tech earnings season began with large IT companies -- Tata Consultancy Services (<keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword>), <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword>, <keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword> and HCL Technologies -- declaring their Q3 report card this week, amid analysts' gloomy prognosis around slowdown in advanced economies and fear of geopolitical flare-ups. The industry leaders said they are keeping a close watch on the global economy and cues. Overall, the revenue growth band of the top-tier IT players was pegged at between 14-20 per cent for Q3FY23, compared to the year ago period. Seen sequentially, the topline growth for the large IT pack ranged between three per cent and eight per cent versus previous September quarter. Meanwhile, December-quarter net profit of the top IT deck rose between three per cent (Wipro) to 19 per cent (<keyword id="141968" type="General" weightage="80" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword>) year-on-year; and about 4 per cent (TCS) to 17 per cent (HCL Tech) when computed on a sequential basis. TCS' overall revenue rose 19.1 per cent to Rs 58,229 crore for the reporting quarter. The chief executive and managing director of India's largest IT services company <keyword id="1422411" type="General" weightage="50" keywordseo="rajesh-gopinathan" source="Orion">Rajesh Gopinathan</keyword> said the firm is more confident about the North American and British operations, which account for two-thirds of its revenues, but there are short-term uncertainties, and it is Europe, which needs closer monitoring as geopolitical tensions restrict clients from making IT spends. TCS management talked of "slow" decision making in Europe, and said it is "fairly constructive" when it comes to markets like the US, although it is keeping a close watch on how things play out over next couple of quarters. The conversations with customers are much more balanced ones, "where they are equally positive as well as cautious" yielding opportunities of "a mix of both cost and transformation deals". Chief operating officer N <keyword id="1564843" type="General" weightage="50" keywordseo="ganapathy-subramaniam" source="Orion">Ganapathy Subramaniam</keyword> said the deal momentum and pipeline are looking good, and the overall situation on technology spending seems to be intact even in this environment. Infosys posted a 20.2 per cent year-on-year increase in consolidated revenue for December quarter at Rs 38,318 crore, and surprised many by hiking full year revenue guidance to 16-16.5 per cent. Infosys' consolidated net profit rose to Rs 6,586 crore during October-December 2022 as against Rs 5,809 crore a year back, translating into 13.4 per cent increase. Sequentially, the net profit was 9.4 per cent higher than September quarter. The company raised its annual sales forecast on a strong deal pipeline, but in the same breath, it warned of "constraints" in certain verticals amid slowing global economy. Infosys called out mortgage, investment banking, telecom and hi-tech, saying these segments were "more impacted, leading to delays in decision making and uncertainty in spending." The company was, however, quick to add that sectors like energy, utilities and manufacturing continue to see traction. Moreover, the concerns are more pronounced in Europe than the US, the Bengaluru-based IT bellwether said. "We see in the European markets, more concerns on what's going on with the economy... and the US market is also there, but relatively less so in the US with respect to Europe. We will see how this plays out," Infosys CEO <keyword id="328377" type="General" weightage="50" keywordseo="salil-parekh" source="Orion">Salil Parekh</keyword> said during the Q3 results conference. Smaller rival Wipro has talked of potential slowdown in retail sector in its earnings' roundup. The management's talking points also touched upon "bit of a lag for conversion of bookings" and "certain level of volatility from customers in particular sectors regarding discretionary spendings." Wipro Ltd on Friday reported a better-than-expected 2.8 per cent rise in consolidated net profit for the December 2022 quarter to Rs 3,053 crore and exuded optimism about "strong" bookings for the fourth quarter despite global headwinds. The company's Q4 guidance, however, came below analysts' expectations. Wipro said its IT services revenue is expected to grow in the range of -0.6 per cent to 1 per cent sequentially in constant currency in the quarter ending March 2023. Wipro expects revenue from the IT services business for the full year to be in the range of 11.5-12 per cent in constant currency terms. The revenues of Wipro stood at Rs 23,229 crore in Q3FY23, 14.3 per cent higher than the same period previous year. Noida-headquartered HCL Tech posted a 19 per cent increase in the consolidated net income to Rs 4,096 crore for just-ended third quarter. Its consolidated revenue grew by 19.56 per cent to Rs 26,700 crore during the reported quarter, from Rs 22,331 crore in the December 2021 quarter. HCL Tech narrowed current fiscal growth guidance in the range of 13.5-14 per cent for the overall revenue in constant currency terms and margin to 18-18.5 per cent. "Looking ahead, we believe there is a near term impact to a few industries, specifically technology industry clients, as they optimise while they will end up as great growth opportunities in medium term with the right propositions," C Vijayakumar, CEO of HCL Tech, said. He added: "Looking ahead we remain positive of our medium term growth, a confidence generated by our good booking and pipeline across every segment." SEE ALSO: <a href="https://www.businessinsider.in/business/news/paradyes-on-shark-tank-a-startup-so-good-that-sharks-had-to-pitch-their-expertise-to-founders/articleshow/96993620.cms">Colour them impressed: A startup so good that sharks had to pitch their expertise to founders</a> <a href="https://www.businessinsider.in/careers/news/meta-microsoft-vacating-offices-in-seattle-amid-remote-work-layoffs/articleshow/97002350.cms">Meta, Microsoft vacating offices in Seattle amid remote work, layoffs</a> <a href="https://www.businessinsider.in/india/news/pm-modi-flags-off-vande-bharat-train-connecting-secunderabad-with-visakhapatnam-ld/articleshow/97005023.cms">PM Modi flags off Vande Bharat train connecting Secunderabad with Visakhapatnam</a>

IT biggies post 14-20% topline growth in Q3 as caution, optimism marks mixed earnings' commentary

<keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> Chairman N. Chandrasekaran has been honoured with France's highest order of merit, Legion d'Honneur, for bolstering relations and building business between India and France. The award was conferred on Chandrasekaran, 59, on Tuesday at the Foreign Ministry in Paris by Minister <keyword id="14065140" type="General" weightage="50" keywordseo="catherine-colonna" source="Orion">Catherine Colonna</keyword>, Minister of Europe and Foreign Affairs. He was accompanied by his wife Lalitha and son Pranav. "<keyword id="6355725" type="General" weightage="50" keywordseo="tata-group" source="Orion">Tata Group</keyword> is a major player in the Franco-Indian partnership: I had the pleasure of presenting its CEO, on behalf of the President of the Republic, with the insignia of Chevalier de la Legion d'honneur. Dear Natarajan Chandrasekaran, you are a friend of France," Colonna tweeted after presenting the award. "Dear Natarajan Chandrasekaran, you are a true friend of France," Ambassador of France to India, Emmanuel Lenain tweeted. The Legion of Honour is the highest French order of merit, both civil and military. It was established in 1802 by Napoleon Bonaparte. France is one of India's largest scientific partners, with over 25 R&amp;D centres, 15 joint Indo-French research laboratories, and 500 collaborative projects in the country. There are currently 10 <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword> group companies operating in France, according to Indo-French Chamber of Commerce and Industry (IFCCI) Director General Payal S. Kanwar. "The Tata family has deep-rooted ties with France right from JRD Tata who was half French and born in Paris to <keyword id="201933" type="General" weightage="50" keywordseo="simone-tata" source="Orion">Simone Tata</keyword> who was incidentally one of the founders of IFCCI. The recent historic order of 250 Airbus A320neos and A350s along with 800 Safran motors for Air India has further boosted business between both countries!" Kanwar wrote on her Instagram. Last year, Chandrasekaran got a five-year extension as the chairman of Tata Sons, the holding company and promoter of more than 100 Tata operating companies with aggregate annual revenues of more than $100 billion. He also chairs the boards of several group operating companies, including Tata Steel, Tata Motors, Tata Power, Tata Global Beverages, Indian Hotels Company and Tata Consultancy Services (TCS), of which he was chief executive from 2009-17. In addition to his professional career at Tata, Chandra was also appointed as a director on the board of India's central bank, the Reserve Bank of India, in 2016. He was appointed on the International Advisory Council of Singapore's Economic Development Board in 2018. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ondc-not-an-immediate-risk-for-zomato-and-swiggy-as-lower-prices-are-due-to-discounts/articleshow/100298963.cms">ONDC not an immediate risk for Zomato and Swiggy as lower prices are due to discounts</a> <a href="https://www.businessinsider.in/stock-market/news/five-reason-why-markets-will-not-run-up-further-from-here/articleshow/100294718.cms">Five reasons why markets will not run up further from here</a> <a href="https://www.businessinsider.in/business/news/indias-super-rich-will-double-in-numbers-to-1-6-million-by-2027-knight-frank/articleshow/100298454.cms">India’s super rich will double in numbers to 1.6 million by 2027: Knight Frank</a>

Tata Sons chairman Chandrasekaran bestowed with France's highest civilian award

<a href="http://www.businessinsider.in/searchresult.cms?query=TCS&amp;sortorder=effectivedate">TCS</a> has moved away from the popular <a href="http://www.businessinsider.in/searchresult.cms?query=bell+curve+method&amp;sortorder=effectivedate">bell curve method</a> for appraisals and will now assess performances based on a system of continuous feedback. 
 
Under the bell curve method, people were given ratings and then segregated into top, medium and poor performers. 
 "This year we did not do any forced rankings or curve fitting. We appraised people based only on their performance. We are now looking at tools to ensure that the feedback process is more continuous, rather than at defined intervals," <keyword id="3330498" type="UNKNOWN" weightage="20" keywordseo="TCS-chief-executive-N-Chandrasekaran">TCS chief executive N Chandrasekaran</keyword> told ET. 
 <keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword> is new to join the bandwagon as Accenture, IBM and Infosys have already abandoned the bell curve method. 
 
Chandrasekaran said the IT firm wanted to create more digital, collaborative tools for continuous feedback process. 
 
Meanwhile, TCS employees are happy with scrapping of bell curve. 
 
“Many employees used to be quite unhappy with bell curve as many people manipulated things and compromises were made to fit the ratings. Now everything is fine,” said a TCS employee on the condition of anonymity. 
 
(Image: Thinkstock)

TCS appraises employees based on performances and feedback, scraps bell curve method

<a href="http://www.businessinsider.in/searchresult.cms?query=wipro&amp;sortorder=effectivedate">Wipro</a> CEO Abidali Neemuchwala drew $ 1.8 million annual salary package, whereas Vice Chairman TK Kurien took home $2.1 million. 
 
Last year, Kurien received a salary package of $1.5 million. 
 
Meanwhile, <a href="http://www.businessinsider.in/searchresult.cms?query=azim+premji&amp;sortorder=effectivedate">Azim Premji</a> took home $327,993 as annual package but this is minus the earnings from his shareholding. 
 Premji’s son and <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> strategy chief Rishad Premji drew $325,462. 
 Wipro, in its filing, stated that <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> was paid a commission at the rate of 0.3% on incremental net profits of Wipro Limited over previous year until July 30, 2015 and at the rate of 0.5% on incremental net profits of Wipro Limited over previous year from July 31, 2015, computed based on the method approved by the Board Governance, Nomination and Compensation Committee and in accordance with the provisions of the Companies Act, 2013. 
 
Apart from Neemuchwala, <a href="http://www.businessinsider.in/searchresult.cms?query=TCS&amp;sortorder=effectivedate">TCS CEO N Chandrasekaran</a> got Rs 25.6 crore as annual package and Rs 10 crore more as a part of one-time special bonus. 
 
<a href="http://www.businessinsider.in/Infosys-CEO-Vishal-Sikka-rakes-in-7-45-million-in-salary-this-year/articleshow/52348269.cms">Infosys CEO Vishal Sikka</a> now commands an annual package of $11 million.

Wipro’s Abidali Neemuchwala receives $1.8 million as salary

<keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman <keyword id="97017" type="COMPANY" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> will be earning less than what he was earning as the chief of <keyword id="6357585" type="CITY" weightage="20" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (TCS). 
 
As per reports, Chandrasekaran will take home Rs 14.4 crore per year in salary and bonus. Besides, he will get a basic salary of up to Rs 4.8 crore a year with an additional variable component of 200%, or Rs 9.6 crore, based on his and the company's performance. 
 
ET reported Chandrasekaran is eligible to get commission from the company. 
 
As TCS chief, Chandrasekaran’s salary was Rs 25.6 crore in fiscal 2016 and an additional Rs 10 crore as part of a one-time special bonus the company announced that year. The payment included commission. 
 
"Basic salary of Rs 20 lakh per month, up to a maximum of Rs 40 lakhs per month. If the board of directors considers it appropriate, an incentive remuneration not exceeding 200% of the basic salary as maybe declared by the board, in its entire discretion, from time to time, subject to such approvals as may be necessary" may also be paid," the document accessed by ET read. 
 
“The executive chairman shall employ the best of his skills and ability and make his utmost endeavours to promote the interests and welfare of the company and its affiliates and to conform and comply with the policies and regulations adopted by the company and all such orders and directions as may be given to him from time to time by the board," the document said.

N Chandrasekaran earned more as TCS chief than Tata Sons chairman. Here’s how much his salary is

<ul><li><keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS) plans to open up lateral hiring again which had been temporarily suspended due to the coronavirus pandemic. </li><li>It also plans to bring back 5% of its employees to offices by the end of the month. </li><li>In the last quarter, TCS chief human resources officer claims that over 4,500 positions were filled as a result of learning intensity increasing by 25%.</li></ul>India’s largest IT services company, Tata Consultancy Services (TCS), is planning to open up lateral hiring again and things begin to return to normal after the coronavirus pandemic affected its operations worldwide. It also plans to bring back employees into offices to up to 5%. <div type="Article" hostid="261" msid="76875445" title="TCS revenue dips by 6.3% ⁠— CEO says nearly all verticals were hit by COVID-19 crisis" mstype="2" mssubtype="0"></div> TCS claims that its plans to restart lateral hiring are going to come into picture again due to increased demand. “We have decided to open up on the lateral hiring side and have started onboarding new associates into the TCS ecosystem,” said CEO Rajesh Gopinathan. Since they weren’t hiring, TCS chief human resources officer Milind Lakkad says that the company has been filling in positions using ‘strategic talent development’. “Our learning intensity has gone up by nearly 25%,” he said. As a result, over 4,500 positions in the company were filled even though there was no junior recruitment happening over the last quarter. Coming back to work “We are still very conservative in bringing people back to work. Our strategy varies according to the COVID situation in each country, in each city,” said TCS chief human resources officer Milind Lakkad. Currently only has 1% of TCS employees are in offices across the globe. <div type="Article" hostid="261" msid="76865753" title="TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter" mstype="2" mssubtype="0"></div> The company says it will employ a campus-specific approach to bring employees back into the office in line with their 25/25 vision for 2025, which entail only 25% of employees in offices spending 25% of their time to deliver 100% productivity. "The location-independent way of working is gaining traction. Our customers are quite comfortable integrating the remote workforce, using new collaborative technologies to get work done,” said TCS COO N. Ganapathy Subramaniam during the first-quarter earnings call. “It was extremely important for us to connect with fresher recruits during this period,” explained Lakkad since onboarding has been delayed due to delays in academic terms. TCS plans to honour all existing offers. Gopinathan believes that the road to recovery for TCS will be better than it was after the Global Financial Crisis (GFC). According to him, the recovery trajectory was one step ahead this time around due to early response and better coordination. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-reported-revenue-dips-but-profit-grows-in-q1-fy21-results/articleshow/76875445.cms">TCS revenue dips by 6.3% ⁠— CEO says nearly all verticals were hit by COVID-19 crisis</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-and-microsoft-execs-share-ideas-on-world-productivity-day/articleshow/76462291.cms">From TCS and Infosys to Microsoft and Kissflow ⁠— this is what top execs have to say about productivity in remote working</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a>

TCS to kickstart lateral hiring and bring back 5% of its employees to offices

Amid calls in the IT industry for sharing of cash pile with shareholders and investors, India's largest software company <a href="http://businessinsider.in/searchresult.cms?query=Tata+Consultancy+Services+&amp;sortorder=effectivedate">Tata Consultancy Services </a>today said its board will discuss suggestions received on certainty over <a href="http://businessinsider.in/searchresult.cms?query=dividend+policy&amp;sortorder=effectivedate">dividend policy</a> and <a href="http://businessinsider.in/searchresult.cms?query=share+buyback&amp;sortorder=effectivedate">share buyback</a>. 
 Outgoing <keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword> chief <keyword id="97017" type="COMPANY" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword>, while stating that the company had received suggestions from investors over the need for certainty on dividend policy along with share buyback to distribute the cash, told ET: "These two comments have come from investors and we will discuss it in the board." 
 
He also said that over the years, TCS has been increasing its dividend payments to shareholders. 
 He also talked about who would take over as the company's new CFO as the incumbent <keyword id="1422411" type="UNKNOWN" weightage="20" keywordseo="Rajesh-Gopinathan">Rajesh Gopinathan</keyword> will replace him as CEO. 
 
"We have an internal candidate, we will announce that candidate. We have to go through the board. So, in the next board meeting, that will get formalized," he told ET. 
 On the way ahead for TCS, he said Gopinathan and his team understand the industry and the company does not need any major management or strategic changes because of his elevation to <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>. 
 
The way TCS operates will not change, he clarified, adding however that the company will shift to a higher gear on cloud and automation. 
 
"We already operate in cloud space. We have a clear view on what we want to do in the cloud space. We have done a lot of work in automation, we want to see how we can take it to the next level," Chandrasekaran told ET.

TCS board to consider suggestions on dividend policy, buyback

Newly appointed <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman N Chandrasekaran has written a letter to <keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword> employees after <keyword id="393926" type="UNKNOWN" weightage="20" keywordseo="Rata-Tata">Rata Tata</keyword> had tweeted about <keyword id="791067" type="PERSON" weightage="20" keywordseo="Chandrashekaran">Chandrashekaran</keyword> new position at Tata and how Tata is certain that Chandrashekaran will take <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata group</keyword> to new heights. Chandrashekaran in his letter stated TCS’ best years lie ahead. 
 
Here is the full text of the letter: 
 
Dear TCSers, 
 
While you are likely to have learnt from the press and media, I wanted to write to you personally to share news of my elevation as the Chairman of Tata Sons, the parent company of the Tata Group of which TCS is a part. 
 
The Board of TCS has appointed a new management team headed by Rajesh Gopinathan, who will succeed me as the CEO and Managing Director of TCS. As you know, Rajesh is a 16¬year veteran of TCS and has been a long¬standing member of my management team, worked very closely with me in formulating and executing the company strategy, starting from the E¬Business Practice, moving up to Head, Business Finance and then over the last 4 years as the CFO of TCS. He has led our internal financial transformation over the years. 
 
Rajesh will be supported by N. Ganapathy Subramaniam as the President &amp; Chief Operating Officer and a very able executive team of senior leaders and Presidents, all of whom are part of my current management team and well known to you. NGS as all of you know, is a 35¬year veteran of TCS starting as a trainee and having handled responsibilities across the spectrum of our business. Apart from having managed the Bangalore Delivery Center and stints in North America and Europe, NGS has been a pillar of our BFS business—from the iconic SEGA/INTERSETTLE and Quartz back in the 90’s to the TCS Financial Solutions business over the last decade and more. 
Despite the outstanding successes achieved thus far, I strongly believe that TCS’ best years lie ahead. I have every confidence that the new management team will take TCS to the next levels of our aspirations. 
 
TCS is the only company I have worked for all my life so far, and I am very proud of being a TCSer. I have enjoyed every one of the 31+ incredible years I have spent with the company. The successes TCS and I have enjoyed during this period would not have been possible without the amazing support from all of you–my colleagues. 
 
I look forward to continuing my association with TCS–and in turn with all of you–in my new capacity as the Chairman. 
 
With my very best wishes &amp; warm regards, 
Chandra

You Searched For "TCS chief N Chandrasekeran" and got 10 results

Former TCS CEO Rajesh Gopinath got a 13% pay hike last financial year

PTI

TCS chief Chandrasekaran’s pay is 459 times company’s median level! Here’s how much he earns

BI India Bureau

IT biggies post 14-20% topline growth in Q3 as caution, optimism marks mixed earnings' commentary

PTI

Tata Sons chairman Chandrasekaran bestowed with France's highest civilian award

IANS

TCS appraises employees based on performances and feedback, scraps bell curve method

BI India Bureau

Wipro’s Abidali Neemuchwala receives $1.8 million as salary

BI India Bureau

N Chandrasekaran earned more as TCS chief than Tata Sons chairman. Here’s how much his salary is

BI India Bureau

TCS to kickstart lateral hiring and bring back 5% of its employees to offices

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TCS board to consider suggestions on dividend policy, buyback

BI India Bureau

Letter by Tata Sons’ new Chairman N Chandrasekaran to TCs employees

BI India Bureau

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