TCS COO N Ganapathy Subramaniam retires, no plans for successor

Indian IT services and consulting major Tata Consultancy Services (TCS) announced on Sunday that the company's Chief Operating Officer and Executive Director, N Ganapathy Subramaniam, will be stepping down from his position, effective May 20, 2024. The company reportedly does not want a replacement for his role.

"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," TCS said in a regulatory filing.

Subramaniam, 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 attended various training programs including the Executive program for growing companies at Stanford University.

He took on the role of COO in February 2017 and was reappointed for the position in 2021. Before serving as COO, he was the executive vice president and was responsible for TCS BaNCS, the company's core banking software suite, and emerging businesses.

Additionally, he 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.

TCS announced on April 12 that it does not plan to appoint a replacement for N Ganapathy Subramanian and will redistribute the duties. CEO K Krithivasan stated, "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. But we don’t intend to appoint a COO for now."

For the March quarter, TCS reported a strong 9.3% year-on-year increase in profit to Rs 12,502 crore compared to Rs 11,436 crore profit in the same quarter last fiscal year. The IT services major also recorded a 3.5% year-on-year revenue growth in Q4 to Rs 61,237 crore from Rs 59,162 crore.

The company attributed the growth to a 37.9% increase in the Indian market, followed by the UK (+6.2%). The manufacturing sector contributed to a 9.7% year-on-year revenue growth. TCS also noted that growth was led by Energy, Resources and Utilities (+12.6%), Manufacturing (+7.3%), and Life Sciences & Healthcare (+4.8%) in terms of verticals.