MindTree elevates co-founder Subroto Bagchi as chairmanFebruary 29th, 2012 - 7:34 pm ICT by IANS
Bangalore, Feb 29 (IANS) IT and product engineering services firm MindTree Wednesday elected co-founder Subroto Bagchi as chairman of the board of directors effective from April 1 in place of incumbent Albert Hieronimus, who will assume the role of vice-chairman.
“The new appointments reaffirm our vision to become a stronger player in the global software services industry. Subroto and I have a history of collaboration; we share the same vision and values that will take us to 2020,” chief executive Krishnakumar Natarajan said in a statement here.
Asserting that the Rs.1,509-crore company was poised to scale greater heights, Hieronimus said Bagchi would be the best man for the top job in the next phase of growth, profitability and customer satisfaction.
“It is time when visionary leadership requires to be combined with full-time executive involvement. Subroto will drive the company’s strategy, values and vision for the future,” Hieronimus observed.
Noting that it was honour to head one of the most admired firms in the industry, Bagchi said he would focus on developing engagements with the company’s global clients and deliver sustainable financial performance.
Bagchi, who was based in the US as chief operating officer, returned to Bangalore after he was re-designated as the midsize company’s ‘gardner’ in 2008 to revive its sagging fortunes in the face of stiff competition from peers and nurture its talent pool.
Hieronimus, 63, who has been an independent director on the board, will continue to chair the nomination and governance and the investor grievances’ committees, while George M. Scalise and N. Vittal stepped down as directors on superannuation and Mark A. Runacres resigned from the board due to other commitments.
The German executive, Hieronimus was appointed chairman April 1, 2011, after founder Ashok Soota quit the top post in March 2011 to float a new venture - Happiest Minds Technologies Ltd.
Soota founded MindTree in 1999 with nine other co-founders after quitting IT bellwether Wipro as vice-chairman and president.
- German executive Albert Hieronimus new MindTree chairman - Apr 01, 2011
- Huge forex loss hits MindTree net in fiscal 2010-11 - Apr 21, 2011
- Outgoing Soota not to divest MindTree stake for now - Mar 25, 2011
- MindTree foermer co-founder floats new IT venture - Apr 05, 2011
- MindTree co-founder chairman quits - Jan 29, 2011
- A business deal made easy for young minds - Jun 30, 2012
- Co-founder Narayana Murthy bids adieu to Infosys - Aug 19, 2011
- Infosys inducts four new directors - Jun 11, 2011
- Cameron warns Pakistan against exporting terror to India - Jul 28, 2010
- MindTree is Asia's most admired knowledge enterprise - Oct 19, 2009
- Infosys to have non-founder chairman up to age of 70 - May 01, 2011
- Infosys to decide on Narayana Murthy's successor April 30 - Apr 15, 2011
- Renowned banker K.V. Kamath new Infosys chairman (Night Lead) - May 01, 2011
- Bill Gates wishes Murthy as he retires from Infosys - Aug 20, 2011
- MindTree net plunges 53 percent in fiscal 2010-11 - Apr 21, 2011
Tags: ashok, best man, customer satisfaction, engineering services, feb 29, financial performance, global clients, global software, hieronimus, independent director, investor grievances, krishnakumar, n vittal, product engineering, scalise, stiff competition, subroto bagchi, talent pool, time executive, top job