02 August 2019
Bengaluru: Indian software major Mindtree on Friday announced appointing former Cognizant honcho Debashis Chatterjee as its Chief Executive Officer (CEO) and Managing Director (MD).
"Chatterjee has been inducted into the board of directors with a mandate to lead Mindtree into its next phase of growth," said the city-based IT consulting firm in a statement here.
Prior to joining Mindtree, Chatterjee was President of the US-based Cognizant's global delivery, and the global leader for its digital systems and technology practice.
"Chatterjee's diverse experience and client focussed approach will take Mindtree to its next level of growth and create value for all stakeholders," said Larson & Toubro (L&T) group Chairman A.M. Naik in the statement.
L&T is Mindtree's Mumbai-based parent firm).
At the global software major Cognizant, Chatterjee donned for 22 years many leadership roles spanning banking and financial services, building and managing many delivery operation centres and driving innovation and next generation solutions across lines of services.
"Looking forward to work with Mindtree employees across the world and continue to co-create value for its customers," Chatterjee said in the statement.
Chatterjee was also a key member of Cognizant's executive leadership group and a board member of its Indian arm.
A graduate in mechanical engineering from the Kolkata-based Jadhavpur University, Chatterjee has three decades of experience in leading Indian corporates, including Tata Consultancy Services (TCS) and Mahindra and Mahindra (M&M).
"Chatterjee, who will operate from the company's office in the city's southwest suburb, will drive digital transformation for clients and profitable growth," added the statement.
Mindtree co-founders Krishnakumar Natarajan, N.S. Parthasarathy and Rostow Ramanan had resigned on July 5, two days after L&T bought controlling stake (60.06 per cent) in the firm.
Chairman Natarajan, CEO Parthasarathy and Chief Executive Ramanan resigned (with effect from July 17) to ensure smooth transition.
"The co-founders have asked the company to de-classify them as promoters along with the other founders after their employment contracts lapse on July 17 for the transition," the company had said in an earlier statement.
The two-decade-old Mindtree has been in the news for the last six months since the Mumbai-based construction behemoth Larsen & Toubro (L&T) acquired controlling stake in it in a hostile bid after Cafe Coffee Day founder V.G. Siddhartha sold his 20.4 per cent equity holding to it for a whopping Rs 3,300 crore.
Siddhartha sold his 20.4 per cent equity holding at Rs 980 per share of Rs 10 face value on March 18 to pair his mounting debts. Bengaluru-based Siddhartha (60) committed suicide on July 29 by jumping off a bridge into the Netravathi river near Mangalore.