After its acquisition by L&T, an information technology and outsourcing company, Mindtree has witnessed significant churn at the top. The two recent exits from the Bangalore based firms are of Mindtree’s Executive Vice-President, Satya Ramaswamy and Senior vice-president Anil Rao, who has resigned after being at the helm for nearly two decades.
Rao had been influential in strengthening Mindtree’s software engineering practices and in developing project management and delivery management capabilities. While where Rao is headed next remains uncertain, Ramaswamy has joined Sutherland Global services as Chief Technology Officer.
After its hostile takeover by Larsen & Toubro Ltd (L&T) in June, there have been many exits at the top. Since then, there have been top-level exits at the Bengaluru-based firm, including those of co-founders and vice-presidents (VPs). These include Kamran Ozair, executive VP and a co-founder, who left soon after Mindtree’s founders Krishnakumar Natarajan, Parthasarathy N.S., and Rostow Ravanan resigned in July. In August, Gaurav Johri, Senior VP of corporate strategy and planning also left the tech firm to start his entrepreneurial venture.
In July, the firm had roped in Cognizant’s former CEO Debashis Chatterjee as its Chief Executive Officer. L&T's takeover of Mindtree is said to be India's first-ever hostile takeover in the IT space. The new management under CEO Debashis Chatterjee, who was in Cognizant prior to this, is trying to bring the focus back on the business after the turbulence during the L&T takeover. However, the management seems to be undergoing change in itself.
In November, Mindtree's then CFO Pradip Menon moved to Pidilite Industries as its CFO. Then, a few months ago, former EVP and Americas Head Paul Gottsegen left and joined Information Services Group (ISG) as Partner and President of research and client experience.
While there have been exits, the top management has some new names in the team as well. Reportedly, a few senior executives from Cognizant have joined the firm recently. Balakrishnan Shanmugham has joined as the Head of Global Operations. He had spent nearly 15 years with Cognizant where he served as the global delivery head for the information, media and entertainment practice in his last stint.
After almost a year of its takeover by L&T how Mindtree builds a robust team at the top and drives its business growth is to look forward to.