Tech Mahindra’s CEO and MD CP Gurnani, who is set to retire in December, said that the company’s current business strategy is customer-centric and will not get impacted with the incoming of a new leader.
The company's management team unveiled new strategies and discussed key focus areas for future growth during its Investor Day.
Gurnani emphasized that the company's next big bets for driving revenue and growth will be focused on product and platform (P&P) and co-creation with customers. He expects that the P&P business will reach a revenue of $1 billion within three years.
Further, he assured that there will be a reasonable transition period between him moving on and the new CEO taking over, though he will continue to guide along with the rest of the leadership during transition. Grunani’s tenure as the CEO ends on December 19, 2023.
He said, “This is a running train. There will be a reasonable transition period between me and the new leader. Clearly, the assumption is that the leadership team is here to stay and I will be a part of the team which will make sure the transition happens.”
“The strategy is built around the customer and not the individual. The strategy is drawn with inputs from some of our key customers. Manish (Vyas) had four sessions (with customers) before he reached to MWC,” he added responding to analyst queries.
While there are external candidates being evaluated, according to media reports, internally the top contenders are Manish Vyas, Jagdish Mitra, Lakshmanan Chidambaram and Harshvendra Soin.
Vyas is the president for communications, media & entertainment (CME), and CEO of network services; Mitra is the chief strategy officer and head of growth; Chidambaram is the president of Tech Mahindra Americas; and Harshvendra Soin is the global chief people officer and head of marketing.
Vyas will also be responsible for the P&P business and its expansion, which involves multiple platform products across industries, line of businesses and use cases. All of this is being consolidated under Comviva 2.0 which will be launched in April. Currently an approximately $450 million revenue company, it is expected to grow 2X in the next three years.
Gurnani, in the last 12-14 months, had additionally tasked Vyas with the responsibility to supervise various tech verticals that the company has and banks on.
Speaking to investors Vyas said, “CP entrusted in me the responsibility to assist, supervise and help our lines of services, BPS with Biren (Birendra Sen), BORN XDS with Dilip (Dilip Keshu), Comviva and Product Services with Mao (Mao Mohapatra), network services with Manish Mangal.”
Vyas added he instead learned from these “stalwart” heads. These businesses were innovating every single day in unique ways to add value to the customers through Tech Mahindra’s own intellectual property (IP), he said. This IP will be put to use with the Comviva 2.0 plan.
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