Tata Consultancy Services (TCS), India’s largest IT services company, announced that Samir Seksaria will be the new TCS Chief Financial Officer(CFO) starting from May 1, 2021. He replaces V Ramakrishnan (‘Ramki’).
Ramki joined TCS Finance in 1999 and served as the Finance Head of TCS North America for 7 years before becoming TCS CFO in February 2017. In his overall professional career of over 39 years, he has worked with Tata Motors, Tata Elxsi and the consumer electronics industry.
TCS CFO news came as a shock to many as it is announced just one day before the joining date of the new CFO. According to a company official, The TCS Board of Directors meeting held on April 12, 2021, had approved Samir Seksaria as Chief Financial Officer.
Five Key Facts about TCS New CFO Samir Sekaria
- New TCS CFO Samir Sekaria joined TCS in 1999 as a Business consultant; interesting enough, this was the same joining year of previous TCS CFO V Ramakrishnan (‘Ramki’).
- He moved to companies Corporate Finance in 2004 and played a crucial role in the TCS IPO.
- Seksaria graduated in 1997 from Narsee Monjee College in Mumbai and did his Chartered Accountancy from Mumbai and currently based in Mumbai.
- Before Samir Sekaria named TCS CFO, he headed the financial analytics, planning, and business finance functions reporting directly to MD & CEO Rajesh Gopinathan.
- In his early career, he mostly spent time on consulting assignments involving regulatory compliance and Merger&Aquistions(M&A)
Here is what CEO & MD of TCS, Rajesh Gopinathan, said:
“Samir has played an exemplary role during the past two decades in the company’s financial transformation journey involving cash management, planning and forecasting, simplification and contract structuring.”
He also thanked Ramki for his invaluable contributions to the organization and wish him well for the future.
TCS CFO Salary in 2020 and Q4 results
TCS is India’s largest IT company, and Ramakrishnan V, a TCS chief financial officer in 2020, received a salary package of Rs 3.98 crore in FY2020.
TCS reported a 14.9% rise in net profit at ₹9,246 crores for the quarter ended March 2021 as compared to ₹8,049 crores in the same quarter last year.
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