Tata Consultancy Services (TCS) Ltd, India's largest IT services firm, announced that Samir Seksaria has been placed as the company's chief financial officer (CFO), effective May 1. Seksaria will replace V. Ramakrishnan (Ramki), the former CFO.

TCS' board of directors appointed Samir Seksaria as chief financial officer during their meeting in the mid of April. Prior to his promotion to CFO, he was in charge of financial analytics, planning, and business finance.

Seksaria joined TCS in 1999 and spent his early years working on consultancy projects that included regulatory compliance and M&A spin-offs, among other things. In 2004, he transitioned to corporate finance and was instrumental in the company's initial public offering (IPO).

Prior to his promotion to CFO, he was in charge of financial analytics, planning, and business finance.

TCS had previously announced plans to expand its operations in Ohio, US, by hiring over 800 local employees by 2022 at its Seven Hills Park headquarters near Cincinnati and other offices throughout the state to meet customers' changing needs.

In addition, the company is aiming to invest more than $518 million in Ohio over the next two years, with the goal of doubling enrolment in its STEM and computer-based K-12 education programs by 2022, according to the company.

TCS has come a long way since it was listed at a 27 percent premium to its issue price of 850 on August 25, 2004, reaching a 52-week high of 3,358.80 last week. TCS shares fell 2.4 percent on Friday, closing at 3038.40 on the BSE.

“For the past two decades, Samir has played a pivotal role in the company's financial transformation, which has included simplification, cash management, preparation and forecasting, and contract structuring,” says the company "TCS CEO and MD Rajesh Gopinathan said. “We appreciate Ramki's contributions to the company and wish him well in his future endeavours."