In a significant move, country's largest outsourcing firm, Tata Consultancy Services (TCS) named N. Chandrasekaran as chief executive officer (CEO).

Chandrasekaran will replace S. Ramadorai on October 6.

It should be mentioned here that Ramadorai has been shouldering the responsibility as CEO of the IT company since 1996. He was appointed as the CEO and MD on August 9, 2004.

At present Chandrasekharan is the chief operating officer and executive director of the TCS.

The greatest challenge before Chandrasekharan would be to get the company out of the crisis encountered by the IT industry. He takes over at a time when the Indian IT industry is seeing a major decline in demand.

Apart from the economic global crises, experts do believe that the $6 billion IT firm is not doing good in terms of revenue growth when compared to its nearest rival, Infosys.

Speaking on this, a market analyst said, "If you look at the revenue growth in dollar terms for FY09 for TCS, it was around 5 per cent whereas that for Infosys was around 11.8 per cent."