As AI continues to reshape the global IT services industry, Tata Consultancy Services (TCS) has announced a major leadership restructuring along with the creation of 5 new business units to strengthen its growth strategy. The changes were shared through a series of internal memos issued by CEO K. Krithivasan and COO Aarthi Subramanian on Sunday.
As part of the restructuring, TCS has divided its Banking and Financial Services Americas business into 2 separate units. Company veterans Rakesh Kumar and Mohan Veeturi will lead the U.S. West and U.S. East banking units, respectively. Susheel Vasudevan, who currently heads the U.S. banking business, will move into a strategic role reporting directly to the CEO.
Banking remains TCS’s largest business segment, contributing nearly 1/3 of the company’s total revenue, while North America generates almost half of its overall revenue. Manmeet Chhabra, who currently leads the Canada banking unit, has been appointed as the new Country Head for Canada.
The company has also launched 5 new business groups focused on the ServiceNow practice, travel and transport clients, energy and utility clients, the U.S. West Coast market, and global autonomous businesses. Each of these units will be led by newly appointed leaders. In addition, TCS has announced new leadership appointments across its cybersecurity, UK and Europe life sciences, and communication and media verticals.
The leadership changes come at a time when AI is increasingly seen as a disruptive force for India’s $315 billion IT services industry. The technology is expected to reduce demand for engineering teams, shorten project timelines, and put pressure on pricing as clients seek greater productivity gains.
Last week, TCS reported quarterly revenue for the April–June period that exceeded market estimates. The stronger performance was supported by higher spending from banking clients and the weakness of the Indian rupee.
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