Mumbai, October 6, 2009: Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), a leading IT services, business solutions and outsourcing firm, today announced that N Chandrasekaran has assumed the role as Chief Executive Officer and Managing Director. Chandrasekaran, previously Chief Operating Officer and Executive Director, takes over from S Ramadorai who is stepping down from the executive role to take the position of non-executive Vice Chairman.
Aman Mehta, Independent Director on the Board of TCS said: “Chandra is extremely well-equipped to take over the mantle from his illustrious predecessor, Ram. This has truly been a seamless transition process.”
Chandrasekaran, CEO and MD, said: “I take over at a time when Mr. Ramadorai has ensured a strong position for TCS as a $6 billion company and a global IT services powerhouse. With our strong customer base, full services offering, multi-domain capability, and presence across emerging markets, I believe that we are optimally positioned to take advantage of the opportunity in the global market,” said Chandrasekaran.” He added: “It is important to drive excellence and growth through empowerment of our 140,000-strong employee base and value articulation for our global customers.”
Ramadorai commented, “Over the last 13 years, we’ve seen a tremendous transformation and growth not only in TCS but across the Indian IT services industry as a whole. I wish Chandra the very best, I am sure he will steer TCS to its next level of development and growth.”
Ramadorai is retiring from his executive position after 13 years as CEO, upon reaching the retirement age of 65 years as per the company’s governance policy. He will remain involved in the company as a non-executive Vice Chairman and a member of the board of directors.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 140,000 of the world's best trained IT consultants in 42 countries. The company generated consolidated revenues of US $6 billion for fiscal year ended 31 March 2009 and is listed on the National Stock Exchange and Bombay Stock Exchange in India.
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