Soota sticks to personal reasons in adieu note at MindTree

He again sought to clarify that his departure was due to personal reasons, while maintaining the company leadership has had healthy debates in past.

By ET Bureau | Updated: Apr 01, 2011, 11.59 AM IST

BANGALORE: IT veteran Ashok Soota on Thursday bid adieu to MindTree, the company he co-founded over a decade ago. He once again sought to clarify that his departure was due to personal reasons, while maintaining that the company leadership has had healthy debates in the past.

Soota communicated to employees that his resignation was not about difference of opinion on business issues. "We had too few (difference of opinions). There should be among leaders, more passionate argument on points of view as we had in our early days," he said.

"It would be ridiculous to assume that business reasons would have led me to resign .MindTree has been my life for the last 12 years," he said. It was not about organic versus inorganic growth. Inorganic growth has contributed to 20% of the company's growth, he added.

Ashok Soota is one of 10 co-founders of MindTree and holds 11.1% stake in the company. On January 28, Soota announced his decision to step down as executive chairman of the board citing personal reasons. In a subsequent press statement, Soota said he would start a non-profit organisation and a new business venture. He also denied immediate plans to sell his stake. MindTree is set to announce a new chairman of the board on April 1.

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