The sudden resignation of Manish Vyas, who was once expected to become Tech Mahindra CEO, has struck an emotional chord with long timers and employees of the company. Vyas quit the fifth largest IT firm on November 17, 2023 after spending about 23 years in the company.
Many long-timers, including the outgoing CEO and MD of Tech Mahindra, CP Gurnani, have put out messages showing love and support for the former president of communications, media, and entertainment (CME) vertical at Tech Mahindra. Vyas was also the chief executive of Tech Mahindra’s Network Services division, which is one of the company’s main growth engines.
Employees, including some former employees at Tech Mahindra, started two hashtags with #MVInspires and #MomentsWithMV on LinkedIn. Gurnani posted a video on the professionally-centric social media platform and wrote that Vyas turned challenges into opportunities and he built a legacy of a strong team.
Many other senior employees have also poured out their love and wished him the best. One such senior employee highlighted Vyas’ role in taking Tech Mahindra from a sub $100 million company to a $7 billion company.
CME is the largest vertical at Tech Mahindra and contributes about 40% to the company’s topline, making Vyas the next in line. But with Mohit Joshi taking charge of the company and CME vertical performing poorly, Joshi’s restructuring measures had the CME vertical and related accounts split between different leaders.
The recent restructuring saw the company’s overall business consolidated down to six core strategic business units. Joshi, during the quarterly earnings, said, “We have cut the Americas business into three business units. We have got Europe business where we have consolidated the telecom and non-telecom businesses into a single strategic unit and we have also consolidated our Asia Pacific and Japan business under a single leader, who will be based out of Australia. We have carved out India business into a separate business unit given the very unique nature of the market.”
An analyst who didn’t want to be on record said that Vyas was out of any position in the company after Joshi’s restructuring announcements. He added that the company has also indicated recently that it will focus more on BFSI and other verticals to push the growth engine.
