In an exchange filing, the IT major said that its board at its meeting held (15 June 2023), with a view to ensure smooth transition on account of the impending retirement of C. P. Gurnani, managing director and CEO of the company on 19 December 2023, has, based on the recommendation of nomination and remuneration committee approved the appointment of Mohit Joshi as an additional director on the board of directors of the company with effect from 20 June 2023.

He will hold the office of director till the date of ensuing annual general meeting of the company. The appointment will be placed for approval of the shareholders of the company at the ensuing annual general meeting (AGM) scheduled on 27 July 2023.

The board has also approved the appointment of Mohit Joshias the whole time director of the company designated as “managing director (designate)” and key managerial personnel under the Companies Act, 2013 with effect from 20 June 2023 up to 19 December 2023, subject to shareholders' approval.

The board of TechM accorded its approval for appointing Mohit Joshi as managing director and chief executive officer of the company and key managerial personnel under the Companies Act, 2013, with effect from 20 December 2023 to 19 June 2028, subject to necessary approvals.

Mohit Joshi joins the company from Infosys, where he was the president. Mohit has over two decades of experience in the enterprise technology software & consulting and has worked with the largest corporations in the world in driving digital transformation and building thriving businesses.

At Infosys, Mohit was heading their global financial services & healthcare and the software businesses. Mohit also led sales operations and transformation for Infosys and had executive responsibility for all large deals across the company. He was also responsible for the CIO function and the Infosys Knowledge Institute.

Mohit has been a non-executive director at Aviva Plc since 2020 and is a member of its risk & governance and nomination committees.

Prior to joining Infosys in 2000, Mohit worked with ABN AMRO and ANZ Grindlays in their Corporate and Investment bank.

Tech Mahindra is focused on leveraging next-generation technologies including 5G, blockchain, cybersecurity, artificial intelligence, and more, to enable end-to-end digital transformation for global customers.

The IT major's consolidated net profit declined 13.8% to Rs 1,117.7 crore in Q4 FY23 as against Rs 1,296.6 crore posted in Q3 FY23. Revenue from operations fell marginally to Rs 13,718.2 crore in Q4 FY23 as against Rs 13,734.6 crore recorded in Q3 FY23.

The scrip shed 0.16% to currently trade at Rs 1079.60 on the BSE.