MindTree Ltd., global IT solutions company, announced a major organization-wide restructure, as part of its growth plans and the objective of becoming a $1- billion organization. The restructuring that will be effective April 1, 2009 includes entering new market segments, setting up new business units, as also new roles for senior management.
The Bangalore-based company, said Ashok Soota, Chairman and Managing Director, would be its Executive Chairman and continue to be the Chairman of the Board of Directors. In his new role, he will focus on long-term development.
Krishnakumar Natarajan, Chief Executive Officer, will be the Chief Executive Officer and Managing Director. He will be responsible for MindTree's day-to-day operations and will look after the businesses and enabling functions.
For establishing leadership positions in each, MindTree will focus on five business areas, namely IT Services, Product Engineering Services, Infrastructure Management and Technical Support (IMTS), Independent Testing and the newly- formed Knowledge Services.
The initial focus of MindTree's new Knowledge Services will be providing analytics services to its clients. Analytics will help companies gain deeper insight into their business, risk and opportunity areas, and customer behavior, for improved sales, marketing and operational effectiveness.
Product Engineering services will deliver end-to-end product realization services. Janakiraman S., will head Product Engineering Services, as President and Group Chief Executive Officer of the business unit, which comprises R&D Services and Outsourced Product Development (OPD) Services.
Soota added that the focus on five-business units would not only enable faster growth in the company's chosen areas, but would also help MindTree build greater capacity. This was a significant milestone in MindTree's journey towards becoming a $1-billion organization.
At the BSE, MindTree closed Tuesday's trading at Rs.211.80, up by Rs.6.80 or 3.32% on a volume of 1.88 lakh shares. The company's scrip touched an intraday high of Rs.221.00 and an intraday low of Rs.200.20.
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