LTIMindtree director Venu Lambu quits

LTIMindtree president and director Venugopal Lambu has resigned, the company informed stock exchanges on Tuesday.

Lambu had joined the erstwhile Mindtree in 2020 and oversaw global markets at the merged entity LTIMindtree.

The company informed the bourses on Tuesday that Venugopal’s resignation has been accepted.


“We hereby inform you that Venugopal Lambu has resigned from the position of whole-time director and president, Markets II, to pursue opportunities outside the company,” LTIMindtree said in a statement.

Lambu’s last working day will be January 10, the company said in a statement.

Lambu previously worked at Cognizant and HCLTech.

He was part of the key management personnel present during the merger completion announcement of Larsen & Toubro Infotech and Mindtree in November.

L&T Infotech and Mindtree had received approval for the merger from NCLT and started operating as a merged entity from November 14, 2022.

The two companies had announced their merger in May 2022. Mindtree CEO Debashis Chatterjee will lead the combined entity. Following the merger, the management had said this was India’s fifth-largest IT provider by market capitalisation and sixth-largest by revenue.

After the merger of Mindtree and Larsen & Toubro Infotech in November 2022, Lambu was designated as President, Markets.

He had joined Mindtree along with former Cognizant executive Debashis Chatterjee, who was appointed CEO of the company following the exit of then Mindtree CEO Rostow Ravanan, executive chairman Krishnakumar Natarajan and executive vice-chairman Parthasarathy NS after L&T acquired a majority stake in the company.

Shares of LTIMindtree fell over 2% to Rs 4256 in Wednesday's trade on BSE after Lambu resigned.

At 12.31 pm, the scrip was trading 1.4% lower at Rs 4,289 over its last day's closing price of Rs 4,351 apiece. From its 52-week high of Rs 7,595, the stock has plunged about 44%.