Mindtree Elects Albert Hieronimus New Chairman; Soota Resigns

1 Apr, 2011

Bangalore-based engineering services and product company Mindtree has named Dr. Albert Hieronimus as the new Non - Executive Chairman of Board of Directors effective today.

Ashok Soota, who was one of the nine co-founders of Mindtree along with Subroto Bagchi and Krishnakumar Natarajan, formally submitted his resignation last evening. He was the Executive Chairman and Member of the Board of Directors. He has clarified that he has no immediate plans to divest his 11.1% stake in the company but would do so over due course of time. Prior to Mindtree, Soota was President of Wipro Infotech, one of India's top IT firms.

Dr Hieronimus has been associated with Mindtree for five years, having served as an independent director since 2006. He is also a member of the company's strategic initiatives committee and audit committee, the chairman of the investor grievances committee, apart from being the lead independent director. Currently he is the Chairman of Bosch Ltd and is a member of the Supervisory Board of Bosch Rexroth AG.

"I have worked closely with MindTree for many years now and feel very proud of the culture & values that define MindTree. MindTree has an exciting future ahead and I look forward to helping the management to take MindTree to greater heights," said Dr. Hieronimus.

Mindtree has also segregated the role of chairman of the board from CEO and MD for the first time, Krishnakumar Natarajan, CEO & MD, MindTree Limited noted.

MindTree is regarded as one of the best employers as well as an original research and development company with expertise in wireless technologies. It also offers consulting IT services, testing, infrastructure management and technical Support.