homemarket News'Market may not like the change of guard at TCS but it will get over it' — this is what analysts say
'Market may not like the change of guard at TCS but it will get over it' — this is what analysts say
In an interview with CNBC-TV18, Moshe Katri, MD of Wedbush Securities, discussed the change of guard happening at TCS and according to him, the market may not initially like the news, but it will eventually get over it.
In a sudden and shocking leadership change in India’s’ largest IT services company, Rajesh Gopinathan, managing director & CEO of TCS, has resigned after a successful six-year stint. K Krithivasan has been appointed as the Chief Executive Officer-designate, effective from March 16, 2023.
The sudden resignation of Gopinathan has come as a surprise to many in the industry. In an interview with CNBC-TV18, Moshe Katri, MD of Wedbush Securities, discussed the change of guard happening at TCS and according to him, the market may not initially like the news, but it will eventually get over it.
He said, “There is no ideal timing for this event and there are a lot of talks about a smooth transition, and it seems that they seem to be in decent shape. I don't think the market is going to like it, but the market ultimately will get over it because it's a very large company.”
Katri also believe that there is never a good time for an executive to leave a company. However, timing can be particularly sensitive when it comes to management rejigs. This sentiment is shared by many in the business world, as abrupt departures can lead to instability and uncertainty among investors and employees.
Also Read | TCS chief Rajesh Gopinathan's successor K Krithivasan says priorities and strategies don’t change with CEOs
Market Expert Prakash Diwan said, “Rajesh Gopinathan’s resignation is a shocker. There was no anticipation or indication that there would be a need to look at any transitory kind of development."
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
First Published: Mar 17, 2023 11:09 AM IST
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