MindTree Appoints Subroto Bagchi as Chairman

MUMBAI: IT firm MindTree today said it has appointed Subroto Bagchi as its Chairman with effect from April 1, 2012.It has also appointed Albert Hieronimus as Vice Chairman of the company. "It's an honour to be elected as Chairman of the Board of one of the most admired companies in the industry," Bagchi said in a statement. Board of Directors George M Scalise and N Vittal are stepping down on attainment of retirement age, while Mark A Runacrea is stepping down citing personal commitments, the company said. They will work with the company till March 31, 2012, the statement added. "The new appointments reaffirm our vision to become a stronger player in the global software services industry. We share the same vision and values that will take us to 2020," MindTree CEO and MD Krishnakumar Natarajan said. Last year, Mindtree co-founder Ashok Soota resigned as Executive Chairman to take on a new business venture, Happiest Minds. Soota had co-founded MindTree in August 1999 along with nine other industry professionals. The businesses of MindTree cover IT Services, Product Engineering Services, Independent Testing, Infrastructure Management and Technical Support and Wireless Products. Shares of MindTree were trading at Rs 459 a piece in late afternoon, up 3.39 per cent from the previous close.