TCS’ North America head Muthuswami resigns

Suresh Muthuswami, who has been leading Tata Consultancy Services Ltd's (TCS) $15 billion North American business, has resigned, marking the most significant executive departure since K. Krithivasan took over as CEO in June, according to a report by Mint.
 
Muthuswami, who was appointed Chairman of TCS's North American operations in March 2022, stepped down in early August, the report stated. TCS has decided not to appoint a new chairman for the North American region. Instead, Amit Bajaj, the current President of the North American region, will assume oversight responsibilities. Bajaj, who has been in his role since August 2020, will now manage the region's operations.
 
A spokesperson for TCS confirmed Muthuswami's departure, noting that he left the company after a 26-year career. The reasons for his exit have not been disclosed.
 
Under Muthuswami's leadership, TCS’s North American business, encompassing both the US and Canada, contributed 51.1 percent of the company’s $29.1 billion revenue for the fiscal year ending March 2024. This business segment, valued at $14.9 billion, surpassed HCL Technologies Ltd, India's third-largest IT services firm, which reported $13.3 billion in revenue for FY24.
 
Muthuswami was appointed Chairman of North America following the retirement of Surya Kant, a long-standing TCS veteran. During Kant's tenure, the North American business grew substantially, expanding from $1 billion in 2006 to $12.5 billion by March 2022.

Before joining TCS, Muthuswami led a technology group in India, managed global program operations for a major project in the UK, and worked at a startup consulting firm, where he helped boost revenues to over $15 million in just two years. The IT industry as a whole is experiencing high turnover among senior executives. Other companies like Infosys Ltd. and Wipro Ltd. have also seen several top-level departures in recent years amid an industry downturn.