Latest news with #DebashisChatterjee
Time of India
3 days ago
- Business
- Time of India
LTIMindtree CEO Debashis Chatterjee retires early; Venugopal Lambu takes charge amid leadership confusion
Debashis Chatterjee , chief executive officer (CEO) and managing director (MD) of IT firm LTIMindtree , has opted to retire due to personal reasons effective May 30, six months before his term ends on November 13 this year. Venugopal Lambu , currently the CEO Designate, has been appointed CEO and MD of LTIMindtree with effect from May 31, the sixth-largest IT services company by revenue, said in a statement. The decision was taken at the board meeting of the Larsen & Toubro (L&T) subsidiary at its 29th annual general meeting (AGM) on Friday. Lambu has also been appointed as a director on its board with effect from May 31, 2025, up to his original date of appointment as director, i.e. January 23, 2030, the statement added. Before rejoining LTIMindtree, Lambu served as the CEO of talent recruitment firm Randstad Digital, the $3 billion digital arm of Randstad. Lambu, who has previously worked at LTIMindtree from October 2020 to January 2023, was appointed CEO designate in January this year. Lambu's comeback is seen as a strategy to stabilise the ship at LTIMindtree, which has seen a series of over 10 senior executive exits over the past two years, especially after its formation in November 2022. Chatterjee led the newly formed LTIMindtree after serving as CEO and MD of Mindtree from 2019 until its merger with L&T Infotech. 'Debashis Chatterjee has been working closely with Mr. Venu Lambu to ensure a seamless leadership transition, facilitating continuity and strategic alignment as the company moves forward,' the statement added. The Mumbai-based software services provider reported subdued financial numbers over the past quarters, with the fourth and final quarter of FY25 ending March seeing its profit rise 2.5% on a revenue growth of 9.9% at Rs 9,772 crore. The quarter was helped by foreign exchange gains arising from the rupee's weakness against the dollar. The overall business demand continued to be impacted by macro uncertainties and cautious client spending, along industry lines. For the full year, its net profit declined 1.7% to $544 million, while revenue grew 4.8% to $4.5 billion. LTIMindtree's order book for the January-March period declined marginally to $1.6 billion from the previous quarter's $1.68 billion, but improved from $1.43 billion a year earlier. This month, LTIMIndtree clinched its largest-ever deal -- a $450 million, seven-year engagement with a global agribusiness player.
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Business Standard
4 days ago
- Business
- Business Standard
Debashis Chatterjee retires, Venu Lambu named CEO & MD of LTIMindtree
IT services firm LTIMindtree's Chief Executive Officer (CEO) and Managing Director (MD) Debashis Chatterjee has retired due to personal reasons, the company said during its 29th annual general meeting (AGM) on Friday. CEO-designate Venu Lambu has been appointed CEO and MD with effect from Saturday (May 31). 'As I reflect on my journey with LTIMindtree, I am filled with humility and pride. Leading this organisation from its formative days has been an honour, and I take immense satisfaction in the foundations we've built for future success. I am confident that under Venu's capable leadership, LTIMindtree will continue to thrive and reach new milestones,' said Chatterjee in a statement. Chatterjee joined Mindtree as CEO and MD 2019, until its merger with L&T Infotech in 2022. After the merger, he continued to be CEO and MD of the merged entity. 'Under his leadership, LTIMindtree became India's sixth-largest IT services firm by revenue, effectively integrating the strengths of both the legacy organisations to enhance service offerings and drive innovation,' said the company in a statement. SN Subrahmanyan, Chairman, LTIMindtree, said, 'It is with deep appreciation that we bid farewell to Debashis Chatterjee, whose leadership has been instrumental in propelling LTIMindtree to new heights. He is a fantastic person with immense knowledge and intellectual depth. It was a pleasure to work with him. We are grateful for his invaluable contributions and wish him continued success in all his future endeavours." Chatterjee has been working with Lambu for a seamless leadership transition since the beginning of the year. Before joining LTIMindtree, Lambu served as CEO of Randstad Digital, the $3 billion digital arm of Randstad. He is also not new to the company, as he worked with it during 2020-2023, when he led the global markets.
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Business Standard
4 days ago
- Business
- Business Standard
Debashis Chatterjee retires; Venu Lambu named CEO & MD of LTIMindtree
IT services firm LTIMindtree's Chief Executive Officer (CEO) and Managing Director (MD) Debashis Chatterjee has retired due to personal reasons, the company said during its 29th annual general meeting (AGM) on Friday. CEO-designate Venu Lambu has been appointed CEO and MD with effect from Saturday (May 31). 'As I reflect on my journey with LTIMindtree, I am filled with humility and pride. Leading this organisation from its formative days has been an honour, and I take immense satisfaction in the foundations we've built for future success. I am confident that under Venu's capable leadership, LTIMindtree will continue to thrive and reach new milestones,' said Chatterjee in a statement. Chatterjee joined Mindtree as CEO and MD 2019, until its merger with L&T Infotech in 2022. After the merger, he continued to be CEO and MD of the merged entity. 'Under his leadership, LTIMindtree became India's sixth-largest IT services firm by revenue, effectively integrating the strengths of both the legacy organisations to enhance service offerings and drive innovation,' said the company in a statement. SN Subrahmanyan, Chairman, LTIMindtree, said, 'It is with deep appreciation that we bid farewell to Debashis Chatterjee, whose leadership has been instrumental in propelling LTIMindtree to new heights. He is a fantastic person with immense knowledge and intellectual depth. It was a pleasure to work with him. We are grateful for his invaluable contributions and wish him continued success in all his future endeavours." Chatterjee has been working with Lambu for a seamless leadership transition since the beginning of the year. Before joining LTIMindtree, Lambu served as CEO of Randstad Digital, the $3 billion digital arm of Randstad. He is also not new to the company, as he worked with it during 2020-2023, when he led the global markets.
India Today
21-05-2025
- Business
- India Today
IIM Kozhikode terminates Turkish university tie-up in line with national interest
IIM Kozhikode has ended its academic agreement with Turkey's Sabanc University, putting national interest first. The decision comes just months after the two institutes signed a five-year MoU in September collaboration was mainly focused on student exchange and academic activities. But now, IIM Kozhikode has decided to terminate it unilaterally and immediately, cutting off all academic engagement with Sabanc institute has also formally asked the Turkish university to remove its name from all websites, platforms, and OF A BIGGER SHIFT IN INDIA'S GLOBAL TIE-UPSThis isn't an isolated move. Other top Indian universities like JNU, Jamia Millia Islamia, LPU, and IIT Roorkee have recently taken similar steps, re-evaluating international partnerships in light of India's strategic Debashis Chatterjee, Director of IIM Kozhikode, said: 'At IIM Kozhikode, we place utmost importance on aligning our global engagements with the national interest.'He added that the decision was made after careful thought and reflected the institute's commitment to partnering only with institutions that share India's values and THIS MEANS GOING FORWARDThis move reflects a clear shift in how Indian institutions are approaching international collaborations. There's a growing focus on aligning global partnerships with India's policy directions and educational Kozhikode has reaffirmed that it remains open to global academic collaborations -- but only where there is mutual respect and strategic alignment. advertisement
New Indian Express
21-05-2025
- Politics
- New Indian Express
IIM Kozhikode cuts ties with Turkish university, cites national interest
KOZHIKODE: As India recalibrates its international academic collaborations in line with national interests, the Indian Institute of Management Kozhikode (IIMK) has taken a decisive step by terminating its Memorandum of Understanding (MoU) with Sabanci University, Turkiye. The move comes in response to Turkiye's public support for Pakistan amid heightened diplomatic tensions with India, prompting a firm reaction from Indian academic institutions. Originally signed in September 2023 for a five-year term, the MoU had aimed to foster academic collaboration, primarily through student exchange programmes between the two institutions. However, given the evolving geopolitical landscape, IIMK has chosen to unilaterally terminate the agreement. In an official statement, IIMK said the suspension of ties was a direct consequence of the 'current geopolitical situation involving Turkiye'. The institution has also formally communicated its decision to Sabanci University and has requested the immediate removal of IIMK's name and association from all Turkish university records, websites, and affiliated platforms. Commenting on the development, Professor Debashis Chatterjee, director of IIMK, said: 'At IIM Kozhikode, we place utmost importance on aligning our global engagements with the national interest. The decision to annul the MoU with Sabanci University has been taken after careful consideration and is in keeping with our institutional responsibility to uphold the values and priorities of our nation. We remain committed to fostering international collaborations that reflect mutual respect, strategic alignment, and shared national values.' The move comes as several other Indian academic institutions are reassessing international collaborations in light of national security and diplomatic sensitivities. IIM Kozhikode's firm stance underscores a broader trend of Indian institutions prioritising geopolitical awareness in shaping international academic partnerships.
