‘The king is dead. Long live the King’ is known phrase from the history but still relevant. When a great King announces his departure, people question about about the kingdom, and all these years /eras there has been only answer to the question, the story goes on.
Indian IT sector is going through similar state, where the future course of the established firms like Infosys, Wipro, Mindtree is under question. It is the time, when industry overall, should look at similar examples from the past and take the clue that be it Bill Gates or Steve Ballmer for Microsoft, Steve Jobs or Timothy D. Cook at Apple Inc, Léo Apotheker head SAP or HP.
Indian IT industry saw a few high executive departures like the exit of Jt-CEO at Wipro (Suresh vaswani and Girish Paranjape), Chairman of Mindtree (Ahok Soota), Member of Board and former CFO at Infosys(Mohandas Pai), expected retirement of one of the key founder of Infosys (Narayan Murthy). At Wipro, Rashid Premji will follow his father’s step soon; Satyam Computers became Mahindra Satyam. General Electric was founded in 1890 by Thomas Edison as Edison General Electric Company, much credit goes to Jack Welch (Chairman and CEO of General Electric from 1981-2001) for taking GE to where it is today.
As Vineet Nayar CEO of HCL Technologies Ltd. Observed a over the years the role of the CEO has changed, It is more about employee engagement so for a new CEO , the priority is building rapport and influence among its employees as a leader, and then as a businessman.
He wrote in Harvard Business Review, “ Gone are the days when the CEO’s role was to lead from the front or direct the march forward. Granted, you can’t escape the hype that surrounds a leader. But the onus is on us to find the balance between hype and responsibility; between leading with the power of position and that of ideas; between being the external voice of the company and being the value zone’s voice within the organization.”
Tata Consultancy Services, for example, falls in the same category which has gone through the transition from the unit founder to a new CEO. In 2009, Natarajan Chandrasekaran (Chandra), took charge as CEO and managing director of the company.
TCS claimed in a press note that a well-planned and seamless succession has occurred there, with S. Ramadorai, CEO since 1996, handing over charge to its COO N. Chandrasekaran. Chandra, as he’s referred to at TCS, took the top job after 22 years at the company.
There is a hope that with business undergoing rejig, strategizing their business strategy, focusing on core verticals, the Indian IT giants will pick up again, marking a new beginning…