In A First, TCS To Hold Virtual AGM Soon - Management & Employees Express Confidence And Hope!

As the COVID-19 pandemic has put major IT companies under crisis, Tata Consultancy Services (TCS) is all set to host the country's first virtual Annual General Meeting (AGM). 

This meeting will be the company's 25th AGM, which is entirely virtual with all investors joining in digitally.

As per a report by CNBCTV18, the chairman of Tata Sons & TCS, N Chandrasekaran, and TCS CEO Rajesh Gopinathan will make it easier for the company to address shareholder queries. After having discussions in close doors, TCS is all set to venture into an unknown territory with several shareholders queuing to ask questions to the management. 

Meanwhile, TCS and Tata Sons team has done multiple tests to ensure everything goes smoothly.

In this big meeting, clarity on the business impact of COVID-19 pandemic and the long-term effects it may have on the company will be looked into. Meanwhile, in the quarterly earnings, the company had indicated that the situation should start getting back to normal. The company may also discuss changing client delivery models, the work from home strategy and the impact on employees.

"When we emerge out of this crisis, the world will be a very different place. We are witnessing many of those changes already. With cloud and the new class of collaboration tools, people are discovering that they are able to collaborate with each other just as well working from home, as they did in person in the pre-COVID era. Employers are discovering that the productivity is just as good, if not better, in this new way of working," N Chandra said in the annual report. 

"The next few months will be difficult, but your company is strong with deep relationships with customers and partners, enviable scale, a diversified business mix, a robust and resilient business model, and strong financials. It is well positioned to weather the storms ahead and take advantage of opportunities that come up during the downturn to acquire new capabilities and gain market share. In the post pandemic world, technology will play an ever larger role in helping enterprises adapt to the new normal and differentiate themselves. Your company is well poised to take the lead in partnering customers to recover and rebound on to their growth and transformation journeys," he added.