Tata Consultancy Services (TCS), the renowned Indian IT services and consulting giant, announced on Sunday that N Ganapathy Subramaniam, the Chief Operating Officer and Executive Director, will retire on May 20, 2024. The company does not plan to appoint a successor for his role.
The official statement from TCS noted, "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 and ED of the Company with effect from May 20, 2024."
Subramaniam, who is the elder brother of Tata Sons chairman N Chandrasekaran, joined TCS in 1982 after completing his Master’s in Mathematics from the University of Madras. He has also participated in various executive training programs, including one at Stanford University for growing companies.
He has served as COO since February 2017 and was reappointed in 2021. Prior to this, he was the executive vice president, managing TCS BaNCS, the company’s core banking software suite, and other emerging businesses. Additionally, Subramaniam has been an Additional Director and Chairman of Tata Elxsi Limited since November 2014 and an Additional Director (Non-Independent, Non-Executive) of Tata Communications Limited since December 2021.
On April 12, TCS announced that it would not appoint a replacement for Subramaniam, opting instead to redistribute his responsibilities within the leadership team. CEO K Krithivasan stated, "He’s been doing many things and no single individual can replace him. Our current thinking is to redistribute the work he’s been doing among our leadership team. We do not intend to appoint a COO for now."
In the March quarter, TCS reported a significant 9.3% year-on-year increase in profit, reaching ₹12,502 crore compared to ₹11,436 crore in the same quarter the previous year. The company also experienced a 3.5% year-on-year revenue growth in Q4, totalling ₹61,237 crore, up from ₹59,162 crore.
The growth was primarily driven by a 37.9% increase in the Indian market, with the UK market following a 6.2% rise. The manufacturing sector showed a 9.7% year-on-year revenue growth, with notable contributions from Energy, Resources and Utilities (+12.6%), Manufacturing (+7.3%), and Life Sciences & Healthcare (+4.8%).
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