Mindtree co-founders resign from board, company as L&T takes control

IT major announces resignations of chairman Krishnakumar Natarajan, vice chairman N S Parthasarathy and CEO Rostow Ravanan

Three co-founders who made Mindtree one of India's most storied entrepreneurial ventures quit on Friday after the IT company was acquired by engineering giant L&T. 

Executive chairman Krishnakumar Natarajan, executive vice chairman & chief operating officer (COO) N S Parthasarathy, and managing director & chief executive officer Rostow Ravanan submitted their resignations as board members as well as employees of the company. Earlier, Subroto Bagchi, another cofounder of Mindtree, had opted out of his re-appointment on the board.

"They will stay as board members till July 17 and as employees in line with their employment contracts to ensure a smooth