Mind Tree corporate restructuring (split business into 5 units)
Mind Tree (IT firm) has decided to restructure its business into five independent business units under different CEOs like IT services, product engineering services which include
(R&D) and outsource product development (OPD), testing, infrastructure management and technical support (IMTS), and a new area called knowledge services. as it
looks to rapidly expand each of these segments. Effective April 1, the proposed restructuring will see the CEOs report to the group CEO, a company official said. Currently, Mind Tree has two business units — IT services contributing 79% in revenues and R&D 21%.
MindTree chief operating officer NS Parthasarathy has been appointed CEO of the testing and IMTS units. Other CEOs are S Janakiraman (product engineering services), Scott Staples (knowledge services) and Anjan Lahiri (IT services). “The (restructuring) will position us better as it allows us to compete with both larger and smaller niche players.
All of them will report to Krishnakumar Natarajan who will take over as group CEO and MD. Mr. Natarajan is now CEO of MindTree. Ashok Soota, chairman and MD, will be Executive chairman. The current annual growth of this business is 30%.
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