Mindtree ropes in company's veteran Radha R as head of new business division

BENGALURU: With an eye for achieving billion dollar in revenues and tapping lucrative opportunities in digital technologies, Mindtree appointed company veteran Radha R as the head of a new business division.

She will lead the company's efforts in gaining a bigger market share in the over $225-billion digital market (estimated by CLSA) where bigger rivals such as TCS have already taken a lead.The research estimated that Indian companies could potentially capture $50-billion worth of this market, according to CLSA.

The company is also promoting Kamran Ozair, who handled the Microsoft account based in Seattle to lead Mindtree's banking and financial services business.

Gaurav Johri, the current head of banking business, will now lead all of Mindtree's software platforms' business. “We are getting the organisation prepared for the future,“ Mindtree CEO Krishnakumar Natarajan said. “What's more attractive is that while we have been a late entrant in traditional services, this (digital) is a level playing field for now,“ he said.

Earlier this month, Mindtree said long time company veteran and CFO Rostow Ravanan will be replaced by Jagannathan Chakravarthi by April this year.

The rationale, according to Natarajan is to ensure that there are younger lead ers report ing directly to the CEO.

“We are preparing leaders for other jobs in the future. Of the top 100 leaders we identified recently , al most 20% are changing roles,“ he said. Ravanan will now be responsible for all of Mindtree's horizontal service lines and top customer accounts.

Earlier this month, Mindtree reported its third quarter net profit of Rs 140.8 crore, up by 58.5% on an annual basis, and beating market expectations. Revenue increased by 15.3% to Rs 911.7 crore from Rs 790.6 crore a year ago.