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November 21, 2024 1:50 PM

Business

Mindtree gives three board seats to L&T, Subroto Bagchi resigns

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Mindtree
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Mindtree’s board has appointed three L&T senior leaders including chief executive officer and managing director executives S N Subrahmanyan. Engineering major L&T, whose target is to up its stake in the mid-tier IT services companies to more than 66%, has got three seats on Mindtree’s board.

The Board of Directors and the Nomination and Remuneration Committee on Thursday approved the appointments of S N Subrahmanyan, J D Patil, Senior Executive Vice President for L&T’s defence business and Ramamurthi Shankar Raman, chief financial officer, L&T as non-executive directors, the company said in a filing.

These appointments will be effective July 16 subject to shareholders’ approval.

Co-founder Subroto Bagchi has resigned from Mindtree’s board. The company said Bagchi, who is retiring on July 16, did not offer himself a reappointment.

The Bengaluru-headquartered IT firm has also approved the appointments of Prasanna Rangacharya and Deepa Gopalan Wadhwa as independent directors on the board.

Nisha Shiwani hails from the pink city of Jaipur and is a prolific writer on a wide variety of topics. She loves to write on Real Estate/Property, Automobiles, and the Education vertical. She has a strong inclination towards Finance and about the latest developments in the Technology space and also writes on the same.

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