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MindTree's Board of Directors Elects Subroto Bagchi as ChairmanDr. Albert Hieronimus Continues on the Board as Vice Chairman (February 29, 2012)
WARREN, NJ -- (Marketwire) -- 02/29/12 -- MindTree Limited (NSE: MINDTREE), a global IT and Product Engineering Services Company, today announced that Mr. Subroto Bagchi and Dr. Albert Hieronimus will assume new roles in the Company's Board of Directors as Chairman and Vice Chairman, respectively, effective April 1, 2012.
"MindTree is now poised for scaling greater heights. It is a time when visionary leadership requires to be combined with fulltime executive involvement. Subroto Bagchi is, clearly, the best man for the job in this next phase of growth, profitability and customer satisfaction," said Dr. Hieronimus. "I welcome Subroto in his new role and am confident that he will drive the company's strategy, values and vision for the future."
Speaking on his appointment, Mr. Bagchi said, "We are grateful to Dr. Hieronimus and the Board of Directors for their strong support to MindTree over the years. It is an honor to be elected as Chairman of the Board of one of the most admired companies in the industry. Along with Krishnakumar's support and the guidance by the Board of Directors, we will build an expertise-led and culture-backed organization focused on developing deep engagements with our clients and delivering superior, sustainable financial performance."
Mr. Krishnakumar Natarajan, CEO & MD, MindTree Limited, said, "The new appointments reaffirm our vision to become a stronger player in the global software services industry. Subroto and I have a history of collaboration; we share the same vision and values that will take us to 2020."
Dr. Hieronimus will continue on the Board as Vice Chairman and will chair the Nomination & Governance and the Investor Grievances Committees. He is a member of the Audit Committee and Strategic Initiatives Committee of the Board.
Further, effective March 31, 2012, Mr. George M. Scalise and Mr. N. Vittal are stepping down from MindTree's Board of Directors on attainment of the age of retirement while Mr. Mark A. Runacres is stepping down from the Board due to other commitments. The Board and MindTree management team are grateful for their support and guidance to MindTree over the years.
About MindTree Limited
MindTree Limited is a global IT and Product Engineering Services Company with deep knowledge in specific domains. MindTree is acknowledged as the best mid-size software services company in India for its capability to build, test and deploy solutions. The Company also places significant emphasis on culture, customer centricity and corporate governance. MindTree is ranked No. 1 among the Most Admired Knowledge Enterprise (MAKE) India Award winners in 2010, 13th in NASSCOM's listing of Top IT Software and Services Exporters in India (excluding BPO). In 2009, MindTree was ranked No. 2 in Asia and declared the overall winner in India in the Asiamoney Corporate Governance Poll. Please visit us at www.mindtree.com.
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