Mindtree has said the spate of recent top management exits is a thing of the past and the company is more bullish on growth prospects in the 2016 fiscal.
Since the last couple of months, some top management executives have left the company which also saw some major reshuffle.
Ananda Rao Ladi, who spent a decade-and-a-half with the company as a senior V-P for the Asia-Pacific region, resigned in April.
He is learnt to have founded a start-up in the area of cloud computing, security and storage.
Along with Ladi, Rajesh Narang, who was the legal head and company secretary, left Mindtree in February.
“At each stage, we need to look at the organisation ahead and in line with that prepare for the future,” said KK Natarajan, CEO of Mindtree, during the results.
Apart from exits, the company undertook a restructuring exercise which involved changing of roles.
One of its co-founders, Rostow Ravanan, who holds the post of Executive Director and was the Chief Financial Officer, will take charge of Mindtree’s service lines, key accounts group and Europe.
In his place, the company has appointed Jagannathan Chakravarthi as CFO. Similarly, Veeraraghavan RK, the former chief delivery officer, will head the hi-tech vertical and his place will be taken by Ramesh Gopalakrishnan.
The company has also decided to give additional responsibilities to president and chief operating officer Parthasarathy NS, who will head HR, according to company sources.
Apart from the management changes, the company had cautioned about flat revenue growth and pull back from clients in CPG and retail.
Madhu Babu, IT analyst with Centrum Broking, pointed out that he expects Mindtree to clock 14.3 per cent growth in the 2016 fiscal.