IT major Tech Mahindra on Saturday announced the appointment of former Infosys president Mohit Joshi as MD and CEO designate, who will take over the charge from CP Gurnani after his retirement on December 19 this year.
The announcement follows the resignation of Joshi from Infosys where he was head of the global financial services and healthcare and the software businesses, which included Finacle (Infosys banking platform) and the artificial intelligence and automation portfolio.
“Mohit will take over as MD and CEO when CP Gurnani retires on December 19, 2023. He will join Tech Mahindra well before that date to allow for sufficient transition time,” Tech Mahindra said in a statement.
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Separately, Infosys in a regulatory filing said that Joshi has resigned from the company. He will be on leave effective from March 11, 2023 and his last date with the company would be June 9, 2023. Joshi will replace Gurnani who has been one of the longest serving CEOs of the Indian IT sector.
Gurnani had joined Tech Mahindra in 2004 and later spearheaded the takeover of scam-ridden Satyam Computers and its merger with Tech Mahindra. He has been MD and CEO of Tech Mahindra since June 2009.
Tech Mahindra Nomination and Remuneration Committee (NRC) chairperson TN Manoharan said that Joshi’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,” he said.
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At Infosys, Joshi was also responsible for the company’s internal CIO function and the Infosys Knowledge Institute. He has been a non-executive director at Aviva Plc since 2020 and is a member of its Risk & Governance and Nomination committees.
“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 rise together,” Joshi said.
Prior to joining Infosys in 2000, Joshi worked with ABN AMRO and ANZ Grindlays in their corporate and investment bank. Mohit has lived and worked in Asia, America and Europe and currently lives in London with his family.