Suresh Muthuswami, who has been overseeing Tata Consultancy Services Ltd's (TCS) $15 billion North American business, has resigned, marking the most significant executive departure since K Krithivasan was appointed the CEO in June last, Mint has reported.
Muthuswami, who was appointed chair of TCS's North American operations in March 2022, left the company in early August, the report said.
TCS will not appoint a new chairman for the North American region. Instead, Amit Bajaj, the president of the North American region, will take over the oversight responsibilities, the report said. Bajaj, who has held his role since August 2020, will now manage the region's operations.
A TCS spokesperson confirmed Muthuswami's departure, saying he left the company a 26-year stint. The reason for his exit has not been disclosed and Moneycontrol could not independently verify the details of the report.
Under Muthuswami's leadership, TCS’s North American business, which includes the US and Canada, generated 51.1 percent of the company’s $29.1 billion revenue for the fiscal year ending March 2024, the report said.
This business segment, with a value of $14.9 billion, was larger than HCL Technologies Ltd, the third-largest IT services firm in India, which reported $13.3 billion in revenue in FY24.
Muthuswami’s was made the chairman of North America in April 2022 after the retirement of Surya Kant, a long-time TCS veteran. Kant's tenure saw the North American business grow from $1 billion in 2006 to $12.5 billion by March 2022.
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