Shares of Tech Mahindra Ltd surged nearly upto 10% today morning after the Indian IT giant appointed rival Infosys¡¯ President Mohit Joshi as its new MD and CEO designate.
Joshi has been with Infosys since the year 2000.?He will take over as MD & CEO when Tech Mahindra's current CEO CP Gurnani retires on 19th December 2023. Mohit will join Tech Mahindra well before that date to allow for sufficient transition time, the company¡¯s press release mentioned.
Mohit Joshi has over two decades of experience in the Enterprise technology software & consulting space and has worked with the largest corporations in the world in driving digital transformation and building thriving businesses.
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At Infosys, Mohit was head of the Global Financial Services & Healthcare and Software businesses, which included Finacle (the banking platform) and the AI / Automation portfolio. Mohit also led Sales Operations and Transformation for Infosys and executive responsibility for all large deals across the company. He was also responsible for the company¡¯s internal CIO function and the Infosys Knowledge Institute.
Mohit has also been a Non-Executive Director at Aviva Plc since 2020 and is a member of its Risk & Governance and Nomination committees.?As per the press release, in 2014, Mohit joined the prestigious Young Global Leader program at the World Economic Forum, Davos and is also a member of Young Presidents Organization (YPO).? Previously, Mohit has also held the office of the Vice Chair of the Economic Growth Board of the CBI (Confederation of British Industry).
Prior to joining Infosys in 2000, Mohit worked with ABN AMRO and ANZ Grindlays in their Corporate and Investment Bank. He has lived and worked in Asia, America and Europe and currently lives with his wife and two daughters in London.
Mr T. N. Manoharan, Chairperson of the Tech Mahindra NRC said, ¡°Mohit¡¯s appointment is the successful culmination of a rigorous selection process during which the NRC evaluated a number of internal and external candidates. Mohit¡¯s experience with digital transformation, new technologies and large deals will complement Tech Mahindra¡¯s strategies and continue to build on the strong growth momentum demonstrated by the company¡±.
Commenting on his appointment, Mohit Joshi said, ¡°Tech Mahindra¡¯s growth journey has been remarkable. I am delighted to be joining the Tech Mahindra family and look forward to working closely with all the associates, partners, and customers to achieve new milestones, make a positive difference and #Risetogether.¡±
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64-year-old CP Gurnani, the Managing Director and Chief Executive Officer of Tech Mahindra, is known to live by the motto?¡®don¡¯t work hard, work smart¡¯.?
In a career spanning 40+ years, CP Gurnani has held several leading positions with Hewlett Packard Ltd, Perot Systems (India) Ltd. and HCL Corporation Ltd. CP has also served as a Chairman of NASSCOM for the year 2016-2017.
A chemical engineering graduate from the National Institute of Technology, Rourkela, he is a distinguished and active alumnus of the Institute. CP has also been felicitated with an honorary Doctorate degree by Veer Surendra Sai University of Technology and Sharda University.?
He is the recipient of many prestigious awards such as?¡®People-Focused CEO of the year¡¯ award at The Economic Times Human Capital Awards 2023,?¡®CEO of the Year¡¯ award at the Raymond CEO Forum India Awards 2022 and?Most Inspiring Business Leader of Asia¡¯ at The Economic Times Asian Business Leaders Conclave 2022.
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