Big Changes in Tech Mahindra’s Leadership Team

Mohit Joshi, Tech Mahindra’s CEO designate, announced a restructuring of the company’s businesses effective from January 1, in preparation for taking over the role in December.

The reorganization will shift the focus to a vertical-wise delivery approach, departing from Tech Mahindra’s previous geography-based structure. Joshi revealed these changes on October 25, coinciding with the Q2FY24 earnings announcement. This move comes after Tech Mahindra reported two consecutive quarters of disappointing earnings.

Harshvendra Soin, the current Chief Human Resource Officer (CHRO) and Head of Marketing, will relocate to Australia to lead the consolidated Asia Pacific and Japan business.

In addition, the company brings on Atul Soneja as the new COO and will hire a new Chief Marketing Officer and a CHRO, who are expected to join in the coming months.

According to Joshi, the overall business structure has been streamlined into six core strategic business units. The Americas business has been divided into three units. The Europe business has consolidated telecom and non-telecom sectors into a single unit, and the Asia Pacific and Japan business will now be led by a single leader based in Australia. The India business has also been carved out into a separate business unit due to its unique market nature.

Previously, IT services delivery was organized based on various markets or geographical units, but it will now be consolidated under Soneja.

Joshi emphasized that this consolidation will enhance resilience for clients, provide stability, and improve the cost structure. A consolidated delivery organization can drive greater productivity and service line innovation.

While Tech Mahindra aims to reduce its revenue dependency on communications, media, and entertainment (CME) and manufacturing and diversify into healthcare, financial services, and retail, Joshi said that CME and manufacturing will remain core areas of focus.

Notably, Manish Vyas, the CEO of network services and head of CME, has resigned to pursue his entrepreneurial interests. Vyas’s responsibilities, which accounted for nearly 40 percent of the company’s revenue, have been redistributed among different leaders.

Finally, the current CEO and MD CP Gurnani is set to retire on December 19.

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