India’s Tech Mahindra appointed its CEO-designate Mohit Joshi as an additional director.

India’s Tech Mahindra Ltd. appointed its CEO-designate Mohit Joshi as an additional director effective June 20. Mohit Joshi was named the managing director and CEO designate for five years starting Dec. 205. He will replace C P Gurnani, Tech Mahindra’s current MD and CEO, when he retires on December 19. Joshi joins Tech Mahindra after spending over two decades at the rival IT firm Infosys.

Tech Mahindra Ltd’s gain is Infosys Ltd.’s loss: In less than six months, Infosys has lost two presidents—Ravi Kumar S. and Joshi—to rival IT firms Cognizant Technology Solutions Corp. and Tech Mahindra. Both of them had been with the company for at least two decades. And this month, Tata Consultancy Services (TCS), India’s largest software services firm, announced the sudden departure of Rajesh Gopinathan, its CEO for more than six years.

Prof. Dr. Amarendra Bhushan Dhiraj believes, “Indeed, selecting the right CEO is crucial for the success of Tech Mahindra. While a new CEO can bring fresh perspectives and strategies, turning around a company or implementing significant changes is a complex task that requires time and effort.

It is not uncommon for a company’s stock to react positively to the appointment of a new CEO, especially if the individual is well-regarded and brings a strong track record or a promising vision for the company’s future. Investors often view new leadership as an opportunity for positive change and improved performance.”

“However, the true test of a CEO’s performance and the impact of their leadership will become apparent over time, typically beyond the immediate term. Once Joshi assumes the CEO role at Tech Mahindra, the market and stakeholders will closely observe the company’s progress and the execution of its strategies.”

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