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L&T Infotech, the technology services subsidiary of engineering conglomerate Larsen & Toubro, is seeing changes at its top deck. Vivek Chopra and Mukesh Aghi, the two Chief Executives of L&T Infotech, are believed to have quit the company.
The company has confirmed the departure of Chopra but did not comment on Aghi’s resignation.
Company’s statement“Vivek Chopra has left the organisation…we do not comment on future organisation structure until formal announcements are made,” a spokesperson for L&T Infotech said in response to a BusinessLine query.
Sources said that Aghi is serving his notice period and will be exiting by February-end.
L&T Infotech’s business is organised into two clusters – Industrial and Services. Chopra was the Chief Executive of the industrial cluster comprising the areas of energy & utilities, hi-tech & consumer electronics, consumer packaged goods, retail & pharmaceuticals, and auto & aerospace.
Aghi is responsible for the services cluster, manages the banking, financial services, insurance, travel & logistics, media & entertainment.
The company is currently working on identifying new leaders to work alongside Chandrashekar Kakal, its Chief Operating Officer, who joined from Infosys last year.
Target revenueL&T Infotech is targeting revenue of over $1 billion in fiscal 2015-16 before it comes with its initial public offering in the middle of that year. It is expected to finish the current fiscal with sales of around $900 million.
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