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Within days of L & T acquiring over 60 per cent stake in Mindtree, the entire top management of the IT services company including its chief executive officer (CEO), Rostov Ravanan have quit.
In a notice to the Bombay Stock Exchange (BSE), the company said Krishnakumar Natarajan, executive chairman, N S Parthasarathy, executive vice chairman and chief operating officer (COO), as well as Rostow Ravanan, CEO and managing director have submitted their resignations as members of the Board of Directors of Mindtree Ltd and as employees of the company.
Also read :Top Mindtree executives likely to quit after L&T seals takeover
All the members of the top management will continue to be members of the Board till July 17, 2019 and as employees in line with their employment contracts to ensure a smooth transition. Further, along with the other founders of the company, they have asked the company to de-classify them as promoters under applicable laws. The company will announce a new leadership team in due course.
“Mindtree has delivered exceptional performance for all our stakeholders over the last two decades through our differentiated strategy and unique culture. We are grateful to all our customers, Mindtree Minds and external stakeholders for their steadfast support throughout our journey” Krishnakumar Natarajan, executive chairman, Mindtree. ”We wish the new leadership team at Mindtree the very best”.
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