- Debashis Chatterjee will join as the third CEO for Mindtree.
- It has also appointed SN Subrahmanyan as the new non-executive vice-chairman of the company.
Based in the US, IT services giant Cognizant’s president of global delivery Debashis Chatterjee has been named as the new managing director and CEO of Bengaluru based IT services firm Mindtree Ltd which has new promoter in form of Larsen & Toubro Ltd. (L&T) as its new promoter on 16th July.
Mindtree said in an exchange filing that it has also appointed SN Subrahmanyan as the new non-executive vice-chairman of the company.
Chatterjee’s term is coming to an end on 31st July at Cognizant.
Debashis Chatterjee will join as the third CEO for Mindtree in its two-decade existence whose term is of five years till 1 August 2024.
After L&T successfully completed the hostile takeover of Mindtree despite resistance by the company’s original promoter, Rostow Ravanan stepped down as the CEO
The development is in line with L&T’s group chairman A M Naik’s letter addressed to Mindtree employees on 18 July, after being appointed as the new chairman of Mindtree, “A new CEO will join soon to lead the team into a future that will benefit all stakeholders…”.
Chatterjee will be the first CEO of Mindtree outside its 7-member founding team.
Profile of New Mindtree CEO
A Mechanical Engineering alumnus of Jadavpur University, Kolkata, Chatterjee oversees all the service lines in Digital Systems and technology practice of Cognizant.
He joined Cognizant in 1996 and held several key leadership positions during the journey. He has served as the executive vice president and president, technology solutions at Cognizant earlier.
According to Cognizant, Chatterjee was instrumental in growing the company’s banking and financial services practices, one of the biggest markets of Cognizant.
L&T Take Over of Mindtree
Former top executives of Mindtree–Chief Executive Rostow Ravanan, Chairman Krishnakumar Natarajan and Vice-Chairman Parthasarathy NS–had left previously this month following L&T’s acquisition of the mid-tier IT business. As of July 17, Subroto Bagchi, one of Mindtree’s main founding members, also chose to retire from the company’s board.
The infrastructure giant purchased 20.32 percent of Mindtree shares from the founder of Coffee Day Enterprises VG Siddhartha in March for more than 3,000 crores. Subsequently, it shored up it’s holding with more open market share purchases before making an open bid for a further 31 percent stake.