N Chandrasekaran takes charge as Tata Sons chairman, also to hold the chairmanship of TCS
The country's largest software services firm has also named V Ramakrishnan as its Chief Financial Officer to take charge from Rajesh Gopinathan, who will take over as the CEO and MD of the Tata Groups
Tata Sons Chairman-designate Natarajan Chandrasekaran took charge on Tuesday and will also hold the chairmanship of the group's premium company Tata Consultancy Services also.
The country's largest software services firm has also named V Ramakrishnan as its Chief Financial Officer to take charge from Rajesh Gopinathan, who will take over as the CEO and MD of the Tata Groups.
"TCS has received a letter from Tata Sons, in exercise of the powers under Article 90 of the Articles of Association of the Company, nominating N Chandrasekaran as the Chairman of the Board of Directors of the company in place of Ishaat Hussain, with effect from February 21, 2017," the firm said in a BSE filing.It added that the nomination was duly noted by the directors at its meeting held on February 20 this year.
Chandrasekharan who took office as the chairman of the Group, will also take charge as the Non-Executive Chairman of the board of directors of TCS with effect from tomorrow.
TCS said in a separate filing that the board of directors appointed V Ramakrishnan as the Chief Financial Officer with effect from February 21. Ramakrishnan, or Ramki as he is known, joined TCS Finance in 1999, and for seven years he had served as the Finance Head of TCS North America.
"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," TCS said in its filing. Earlier, the company has also announced a Rs 16,000 crore share buyback, 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, who has been appointed to the board of directors, said.
The company also announced that Chief Operating Officer N Ganapathy Subramaniam will also serve as the Executive Director of the board. The inner battle between Tatas and Cyrus Mistry led the group to remove the latter as the Chairman of TCS.