By Sai Ishwarbharath B and Haripriya Suresh
(Reuters) -LTIMindtree, 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.
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 firms L&T Infotech and Mindtree.
“Lambu has a reputation for being results-oriented, focusing on achieving measurable outcomes for clients and shareholders,” said Gaurav Vasu, founder of research firm UnearthInsight.
“This focus on execution will help LTIMindtree deliver consistent growth and meet client expectations in an increasingly competitive IT services landscape,” Vasu said.
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 too elevated insider K Krithivasan to CEO in 2022 after Rajesh Gopinathan quit abruptly, while Infosys veteran Mohit Joshi took over as Tech Mahindra CEO in December 2023.
(Reporting by Sai Ishwarbharath B; Editing by Savio D’Souza and Janane Venkatraman)
