Tata Consultancy Services (TCS) on Sunday announced that the company Chief Operating Officer and Executive Director, N Ganapathy Subramaniam will cease to hold the office with effect from May 20, 2024.
“We hereby inform you that the term of office of Mr N Ganapathy Subramaniam, Chief Operating Officer and Executive Director (COO & ED) of the Company, ends on May 19, 2024. Accordingly, he ceases to be COO & ED of the Company with effect from May 20, 2024,” the company said in a regulatory filing.
N Ganapathy Subramaniam was appointed as COO of TCS in February 2017 and has been with the company for over 40 years.
Earlier in April, TCS had stated that it does not intend to appoint N Ganapathy Subramanian’s replacement and will redistribute the duties. CEO K Krithivasan had said, “He’s (Subramaniam) been doing many things and no single individual can replace him, our current thinking is, our leadership team, we are re-distributing the work he’s been doing and we don’t intend to appoint a new COO.”
For the March quarter, TCS had recorded a robust 9.3 per cent YoY jump in profit at Rs 12,502 crore as against Rs 11,436 crore profit in the same quarter last fiscal. The IT services major had reported Q4 revenue growth of 3.5 per cent YoY at Rs 61,237 crore in comparison to Rs 59,162 crore.
The company had stated that growth is led by 37.9 per cent growth in the India market followed by the UK (+6.2 per cent). The manufacturing sector’s contribution to revenue growth is up 9.7 per cent YoY. In terms of verticals, TCS said, growth was led by Energy, Resources and Utilities (+12.6 per cent), Manufacturing (+7.3 per cent), and Life Sciences & Healthcare (+4.8 per cent).