Hieronimus replaces Soota at Mind tree
By siliconindia   |   Friday, 01 April 2011, 22:29 IST
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Hieronimus replaces Soota at Mind tree
Mumbai: Mind tree elects Albert Hieronimus as its new chairman after Ashok Soota resigned recently. Hieronims was an independent director since 2006 in Mind tree board. He currently was working as a chairman of Bosh. Soon he will step into the shoes of the non - executive chairman of the board. Soota resignation from the board as the executive chairman came as a shock as he had co- founded the company with nine others. But now the board has finally stopped the clock at Hieronims. Soota stated his decision is based purely on personal issues and had nothing to do with popular company issues. Soota further stated that he has no immediate plans to divest his stake in Mind tree following his resignation. He would divest his stake when the right time approaches and would use the proceeds for the use of his NGO and his new business venture which he will announce very soon. In the event of so many happenings in and around the company it is noteworthy to point out that the shares of this company which had shed 30 percent of their value in the past three months saw a hike up to 7.9 percent.

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