Mindtree appoints Debashis Chatterjee as new MD, CEO
Team Udayavani, Aug 2, 2019, 1:57 PM IST
New Delhi: IT services firm Mindtree Ltd on Friday announced the appointment of former Cognizant executive Debashis Chatterjee as its new chief executive officer and managing director (MD and CEO).
The company also appointed Larsen & Toubro’s (L&T) Chief Executive Officer and Managing Director S N Subrahmanyan as its non-Executive Vice-Chairman.
“Mindtree, a L&T Group Company announced the appointment of Debashis Chatterjee as the CEO & MD of Mindtree Ltd. He has been inducted into Board of Mindtree Ltd with a mandate to lead the company into its next phase of growth,” Mindtree said in a statement.
Prior to joining Mindtree, Chatterjee was President, Global Delivery and Global Leader for the Digital Systems and Technology practice at Cognizant.
Both appointments are effective from Friday, Mindtree said in a regulatory filing.
L&T’s takeover of Mindtree marked India’s first-ever hostile takeover in the IT space. The infrastructure giant had bought 20.32 per cent shares in Mindtree from late V G Siddhartha and his coffee enterprise for over Rs 3,000 crore in March.
Later, it shored up its holding with more share purchases from the open market, before making an open offer for an additional 31 per cent stake, taking its shareholding to over 60 per cent.
Last month, L&T had also secured three board positions at Mindtree, bringing in Subrahmanyan, Jayant Damodar Patil and Ramamurthi Shankar Raman.
Shares of Mindtree were trading 0.41 per cent higher at Rs 694 apiece on BSE.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
India not reaping benefits of democratic dividend: Raghuram Rajan
Markets slump for third day on fears of escalating tensions in Middle East; IT stocks drag
Tesla is planning to lay off 10 of its workers after dismal 1Q sales, multiple news outlets report
With just Rs 150 base airfare take a 50-minute flight
Byju’s founder Raveendran to take over firm’s daily operations after CEO Mohan’s resignation
MUST WATCH
Latest Additions
Bhadravathi: Truck collision causes railway disruption
Election Commission declares notification for 17 Lok Sabha seats in Telangana, sparks poll battle
Lok Sabha polls 2024: Rahul Gandhi may have to fight future poll from some place across oceans, says Madhya Pradesh CM Yadav
Avian influenza outbreak reported in Alappuzha, Kerala
Always committed to development of Udupi-Chikkamagaluru, says Jayaprakash Hegde