December 03, 2007 - Bangalore, India

MindTree Announces First Major Organizational Restructure Since Inception

Ashok Soota to become Executive Chairman; Subroto Bagchi will be Gardener; Krishnakumar Natarajan will be new Chief Executive Officer & Managing Director

Restructuring underlies organizational thrust towards next level of growth through industry focus, operational excellence and leadership building

 

MindTree Consulting Ltd., a global IT and R&D Services Company, today announced its first major company-wide restructure since its inception in 1999. These changes will be effective April 1, 2008 and expand the role of more than 150 leaders throughout the organization. The large-scale changes will facilitate newer business opportunities, building industry-depth and focus on leadership development.

 

Ashok Soota, currently Chairman & MD, will assume the role of Executive Chairman. While providing overall leadership to the organization, Soota will now focus on strategic initiatives in MindTree’s expansion and growth. Soota will also continue to be the Chairman of the Board. The role of Chief Strategy Officer has been created with Salil Godika reporting to Soota in this capacity. Godika has recently relocated to India after a long and successful career with several U.S.-based software companies.

 

Chief Operating Officer Subroto Bagchi, who is currently based out of the U.S., will return to India to take on the first-ever position of Gardener within MindTree. This unusual move is being made to focus on further strengthening the emotional infrastructure of MindTree for which the Company has been known as having differentiated itself. Bagchi will spend one-on-one time with the Top-100 leaders at MindTree on their “personal-professional” issues; expand leadership capacity; and build readiness for taking MindTree into the billion-dollar revenue level. In addition, Bagchi will work at the grassroots by making himself available to the 45+ Communities of Practice that foster organizational learning, innovation and volunteerism. He will spend time on MindTree’s relationship with the educational community in India and abroad to create inroads of learning from unusual sources and take MindTree’s learning to the world at large.

 

Krishnakumar Natarajan, who is the President and CEO of MindTree’s IT Services business, will assume responsibility as the Chief Executive Officer & MD of MindTree. In this capacity, Krishnakumar will have the overall responsibility of both the IT Services and the R&D Services businesses of MindTree.

 

Going forward, MindTree’s IT Services business will have a two-in-a-box structure led by Scott Staples and Anjan Lahiri as President and Co-CEOs. Staples and Lahiri will be responsible for designated Industry Groups, Practices and Geographies. The R&D Services business will continue to be led by S. Janakiraman as President & CEO. In order to create bandwidth for him to nurture newer Industry Groups and Practices, Vinod Deshmukh will assist him as President and Co-CEO of the R&D Services business.

 

Executive Vice President N.S. Parthasarathy will be designated Chief Operating Officer and report into Krishnakumar.

 

These changes at MindTree will bring forward several young leaders into key positions in preparation for MindTree’s goals for the future. Speaking on the changes, Soota said, “This is about creating MindTree Version 2.0. With this, we are now ready for the next big thing. As a team, we see ourselves as builders. What we have achieved in the last eight years is just the foundation for the next twelve. The new structure will unleash leadership capacity as MindTree prepares for the next leap forward.”

About MindTree Consulting

MindTree Consulting is a global IT and R&D Services Company co-headquartered in the U.S. and India.  With a passion for customer satisfaction, MindTree partners with its clients to create a transparent, value-based relationship.  Our domain experts deliver business-enabling solutions by leveraging a consulting led, framework-based and IP-driven approach.  MindTree's IT Services business provides a range of services to CIOs across a variety of industry segments.  Our R&D Services business works with Technology companies to help build innovative products by providing Product Realization services.  

 

MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated as the most admired employer by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. MindTree is publicly listed in India. Please visit us at www.mindtree.com.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

For more information, contact:

Manoj Chandran                                                        

MindTree Consulting                                                  

091-080-26711777                                                     

manoj_chandran@mindtree.com                                

 

Ritika S. Mishra

Brand-Comm

091-080-25539258/091-9845577633

ritika@brand-comm.com