MindTree plans restructuring, management rejig

Bangalore-based information technology solutions firm MindTree Ltd said on Tuesday it restructure its organisation and rejig its top management as part of its growth plans. The restructuring would include entering new market segments, setting up new business units, and new roles for senior management, the company said in a statement.

Mindtree has spun off its operations into five different business units - IT services, product engineering services, infrastructure management and technical support, independent testing and the newly formed knowledge services, in its efforts to become a $1 billion (Rs4500 crore) company from its present topline of around Rs1500 crore.

Chief executive officer Krishnakumar Natarajan will take on the additional responsibility of managing director, a post being vacated by Ashok Soota, who is also chairman of the firm, the company said. Soota will now assume the role of the company's executive chairman.

In his new role, Soota would focus on strategic initiatives and long-term development, while Natarajan will be responsible for MindTree's day-to-day operations and will look after the businesses and enabling functions. Soota would continue to be the chairman of the board.

"Being focused on five business units will not only enable faster growth in our chosen areas, but will also help MindTree build greater capacity," Soota said in the statement. "This is a significant milestone in MindTree's journey towards becoming a $1 billion organisation."

The initial focus of MindTree's new knowledge services will be providing analytics services to its clients. Product engineering services will deliver end-to-end product realisation services. Janakiraman S will head product engineering services as president and group chief executive of the business unit, which consists of R&D services and outsourced product development services.