Tech Mahindra spurts on appointment of Mohit Joshi as MD & CEO

Tech Mahindra surged 7.91% to Rs 1,145 after the company announced Mohit Joshi, the former president of Infosys, as its managing director (MD) and chief executive officer (CEO) designate for a period of five years, effective from 20 December 2023.

Mohit Joshi will take over as MD & CEO when CP Gurnani retires on 19 December 2023. However, he will join Tech Mahindra well before that date to allow for sufficient transition time, said the company.

Mohit Joshi will join Tech Mahindra from Infosys, where he was the president of the company. Mohit 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.

At Infosys, Joshi was head of the global financial services & healthcare and the software businesses, which included Finacle (the banking platform) and the AI / automation portfolio. He 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.

T. N. Manoharan, chairperson of 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.

Meanwhile, Infosys on Saturday announced the resignation of Mohit Joshi, president of the company effective from 11 March 2023. He will be on leave and his last date with the company would be 9 June 2023, it addded.

Tech Mahindra is focused on leveraging next-generation technologies including 5G, blockchain, cybersecurity, artificial intelligence, and more, to enable end-to-end digital transformation for global customers.

Infosys is a global leader in next-generation digital services and consulting. Shares of Infosys fell 1.62% to Rs 1,447.50 on the BSE.

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