MindTree Limited, a Bangalore-based IT solutions firm, has announced restructuring as part of its aim of becoming a $1 billion (Rs 4,500 crore) organisation from its current top line of around Rs 1,500 crore.
The restructuring, effective April 1, includes entering new market segments, setting up new business units and new roles for the senior management.
Ashok Soota, chairman & managing director, will assume the role of MindTree’s executive chairman. In his new role, Soota will focus on strategic initiatives and long-term development. He will continue to be chairman of the board of directors.
Krishnakumar Natarajan, MindTree’s CEO, will take over as CEO & MD. He will be responsible for MindTree’s day-to-day operations and will look after the businesses and enabling functions.
Even as MindTree awaits a court-approved merger with Aztecsoft, it has internally restructured the Aztecsoft part of the business. Sameer Bodas, the CEO of Aztecsoft, has decided to resign from the rolls of the company with effect from March 31, and decided to work as a strategic advisor to the company on a part-time basis. Besides, Srinivasan Chandrasekhar, COO of Aztecsoft, decided to resign as he wanted to take a break, said Rostow Ravanan, CFO, MindTree.
A Mindtree spokesperson said the company would focus on five business areas — IT services, product engineering services, infrastructure management and technical support, independent testing and knowledge services.
