India's LTIMindtree names former president Venugopal Lambu as CEO (updated)

Randstad NV

24/01/2025 11:24

(Adds details from paragraph 2)
       Jan 24 (Reuters) - LTIMindtree  LTIM.NS , India's
sixth-largest IT firm, said on Friday that former president
Venugopal Lambu would return as CEO after a two-year stint at
Randstad Digital, to replace Debashis Chatterjee, whose term
ends in November.
    Lambu will join as CEO designate with immediate effect and
is appointed for a five-year term, the company said in a
statement. He will be based in London.
    He was president of LTIMindtree's global markets business
for three years until 2023 before leaving to helm the tech arm
of staffing giant Randstad  RAND.AS .
    Debashis Chatterjee, or DC as he is colloquially known in
the industry, took over the reins of LTIMindtree in November
2022 after the merger of Larsen & Toubro  LART.NS  firms L&T
Infotech and Mindtree.
    LTIMindtree had considered Chief Operating Officer Nachiket
Deshpande and President Sudhir Chaturvedi for the CEO role.
Chaturvedi abruptly exited the company earlier this week.
    LTIMindtree's rivals have also seen changes at the top in
the past few years.
    Wipro was the latest when it promoted company veteran Srini
Pallia to the top job last April.
    Market leader Tata Consultancy Services  TCS.NS  too
elevated insider K Krithivasan to CEO in 2022 after Rajesh
Gopinathan quit abruptly, while Infosys  INFY.NS  veteran Mohit
Joshi took over as Tech Mahindra  TEML.NS  CEO in December 2023.

 (Reporting by Sai Ishwarbharath B; Editing by Savio D'Souza)
 ((saiishwarbharath.b@thomsonreuters.com;))