Leadership Clarity Positive For Tech Mahindra; Awaiting Growth Turnaround: Motilal Oswal

Motilal Oswal Report

In an exchange filing, Tech Mahindra Ltd. announced the appointment of Infosys Ltd.'s President Mr. Mohit Joshi as the new Managing Director and Chief Executive Officer of the company.

Mohit will take charge after Mr. CP Gurnani retires on December 19, 2023; and will be MD and CEO designate once he joins Tech Mahindra after finishing his tenure at Infosys on June 09 2023.

At Infosys, Mohit was among the key leaders and was heading the banking, financial services and insurance vertical (~30% of Q3 FY23 revenue), the largest industry unit at Infosys.

With the departure of both Mohit and Ravi (moved earlier as Cognizant’s CEO), Infosys has lost both its Presidents – the senior most operational roles after the CEO.

While clarity on new leadership is positive for Tech Mahindra, we see this as a near-term negative for Infosys.

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