Mohit Joshi designated CEO & MD of Tech Mahindra

13 Mar 2023 , 10:07 AM

Mohit Joshi, President of Infosys, has been named as Tech Mahindra’s new CEO and Managing Director, effective December 20. Joshi’s appointment follows his resignation from Infosys on March 11 after 22 years with the firm.

Joshi, who has recently taken over as the CEO, will have to deal with execution issues that are hindering the company’s progress in achieving a balance between revenue growth that matches the industry standards and maintaining a respectable EBIT margin. 

Despite the company’s efforts to move towards an enterprise-focused business and reduce its dependence on Telecom, industry experts believe that this transformation has been bumpy.

Tech Mahindra has reported in a stock exchange filing that Joshi will assume the roles of Managing Director and CEO on December 20.

Tech Mahindra said in a statement that Joshi will join ‘well before the date’ of his appointment as CEO and MD to allow for adequate transition time.

According to reports, Joshi will be concluding his tenure at Infosys in June and will take a break until then. This is the company’s second major exit in recent months, following Ravi Kumar S, another former Infosys President, who left to become Cognizant CEO in January.

Following this development, Tech Mahindra’s counter was trading 7.92% higher at Rs1,145.25 apiece, against the previous close of Rs1,061.25 on NSE. The counter hit an intraday high of Rs1,164.70.

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