N. Chandrasekharan, taking over as chief executive officer of Tata Consultancy Services (TCS), the country’s biggest software exporter, said on Tuesday that his task was to build a “true global footprint” for the company that has grown from dismissive references as a body-shopper to a consulting company with worldwide branches.
But he ruled out any acquisitions in the near future, as he emphasised internal expansion.
The 46-year-old, who is taking the baton from 65-year-old S. Ramadorai said, “Ramadorai has ensured that TCS has a global footprint and a strong position. Even during the troubled time, TCS is delivering growth because its business model is strong.”
“We want to realise our potential and for that we will invest in tools, processes and opportunities for our people,” he said.
Chandra, as the new CEO is fondly called, plans to take the 140,000-employee strong company with sales of more than $6.0 billion (nearly Rs. 29,000 crore) forward by focusing on growth, margins and profitability – none of which can be taken for granted as customer pressures grow in the main US market hit by recession
Chandra said that he saw a recovery ahead. “We are continuing to hire and expand in India as well as across geographies. We are recruiting in US as well,” he said.
Chandra said that the mergers and acquisition model of TCS is aimed at creating global services capability increasing customer base, offering full services and specialisation in many industries and activities. “There is huge organic growth potential and for that we need to go for acquisition,” he said.
When asked to react to Corporate Affairs Minister Salman Khurshid’s comment frowning on high CEO salaries, Chandra said, “It was not aimed at an individual.” He said that CEO salaries have to be competitive and it was for the boards to decide on the matter.