Bengaluru-based information technology (IT) services firm Mindtree has appointed former KPIT executive Vinit Teredesai as its CFO, effective June 15.
He takes over the position from Senthil Kumar, who was appointed as the interim CFO in March, after Pradip Menon quit the company in November 2019. Kumar resumed his responsibilities as the finance controller from June 15, as per a statement.
Teredesai, who is expected to provide financial leadership to the company in its global growth journey, will be based in Bengaluru, the statement said.
“I am excited to join Mindtree and the Larsen and Toubro (L&T) group. As we experience unprecedented times, the role of finance becomes more strategic. I look forward to working with Mindtree Minds to contribute to the company’s success in the journey ahead,” Teredesai said.
Teredesai has over 25 years of experience working in sectors such as finance, accounting, auditing, taxation, fundraising, risk management, mergers and acquisitions (M&A), and corporate restructuring.
He has served as the CFO of Pune headquartered software company KPIT, senior vice president of HSBC Software Development India (HSDI) and global head of finance at HSBC Global Technology (GLT). He has also worked for American IT services companies SunGard Technology and Cognizant, along with Pune-based two-wheeler company Bajaj Auto and Zurich-based automation company ABB.
“Vinit’s financial acumen and broad industry experience will be a great addition to the team as we work towards maintaining business momentum and creating enhanced stakeholder value,” Debashis Chatterjee, CEO and managing director of Mindtree, said.
Teredesai is a chartered accountant and a certified public accountant. He has completed a general management programme from Massachusetts Institute of Technology (MIT) Sloan School of Management, and holds a degree in accounting and auditing from Pune University.
A couple of months ago, Mindtree signed a five-year deal with US real estate services firm Realogy to help the latter with digital transformation solutions.
In January, the company reported a modest 3% growth in net profits for the third quarter of the financial year 2020-21. It also clocked a 10% growth in revenues during the same period.