LTIMindtree CEO Debashis Chatterjee retires, Venu Lambu takes charge

Mid-tier IT services firm LTIMindtree said on Friday that Chief Executive Officer and Managing Director Debashis Chatterjee has opted to retire and the company’s board has appointed Venu Lambu, currently CEO Designate, as his successor, effective 31 May.

Chatterjee,will step down following the company’s 29th annual general meeting held on Friday. The outgoing CEO had been working closely with Lambu, who was serving as CEO designate since January, to ensure a smooth transition and maintain strategic continuity, LTIMindtree said in an exchange filing.

Under his leadership, LTIMindtree became India's sixth-largest IT services firm by revenue, effectively integrating the strengths of both legacy organizations to enhance service offerings and drive innovation," said the company.

Chatterjee said, "As I reflect on my journey with LTIMindtree, I am filled with humility and pride. Leading this organization from its formative days has been an honor, 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."

"Before rejoining LTIMindtree, Venugopal Lambu served as the CEO of Randstad Digital, the $3 Billion digital arm of Randstad, focused on enabling digital talent across global clients and leveraging Global Capability Centers (GCCs) in India to drive revenue through a people-centric approach. During Venu’s prior association with the Company from October 2020 to January 2023, he led global markets, delivering consistent and profitable growth 5 times, creating one of the industry’s best enterprise value creation case studies. In his earlier roles, he has also held leadership positions at Cognizant, HCL Technologies, and IBM," said the company.

Lambu holds a Bachelor’s degree in Electronics Engineering from the National Institute of Engineering, Mysore, India and a General Management Certification from the London Business School.

S N Subrahmanyan, Chairman, LTIMindtree, said, "It is with deep appreciation that we bid farewell to Mr. 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."

Earlier this month, LTIMindtree secured its largest-ever contract — a $450 million, seven-year agreement with an unnamed global agribusiness player — to deliver AI-driven application, infrastructure, and cybersecurity services, marking a key shift in the company’s transformation strategy amid challenging times for the broader IT sector. 

On April 23, the company reported a 2.6% year-on-year rise in consolidated net profit for the fourth quarter of FY25 at ₹1,128.5 crore, marginally ahead of the ₹1,107 crore posted in the same quarter last year. The firm's revenue for the quarter ended March 31, 2025, stood at ₹9,771.7 crore, up 1.1% sequentially and 9.9%year-on-year. On the talent front, the company reported a headcount of 84,307 professionals at the end of Q4 FY25. The trailing 12-month attrition rate stood at 14.4%, reflecting a continued effort to retain talent in a competitive hiring environment.