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LTIMindtree, a global technology consulting and digital solutions company based in India, revealed in its recent exchange filing that its chief financial officer, Vinit Teredesai, has resigned. The company said it had promoted Vipul Chandra to replace him.
As mentioned on Reuters, Chandra was the head of treasury at Larsen and Toubro (L&T), which was merged with LTIMindtree in May of last year. Although his appointment has already been revealed, Chandra is set to take over the CFO role next month.
Commenting on Chandra's appointment as the new chief financial officer, the company's chairman, AM Naik, said, "Leadership planning is one of the key focus areas of L&T Group."
Leadership Shuffle as Vinit Teredesai Resigns
According to reports, LTIMindtree's Board of Directors selected and appointed Chandra as its new CFO. Chandra will officially start working on his latest post on April 25.
On the other hand, the firm said the outgoing finance chief's resignation will take effect on April 24. As for his decision, it was shared that Teredesai wants to explore other opportunities outside the L&T Group, Money Control reported.
LTIMindtree Forms JV With Aramco Digital
Meanwhile, before Teredesai filed for resignation, LTIMindree partnered with Saudi's Aramco Digital to establish a KSA Digital and IT services company. The companies formed a joint venture where their ownership was split into 51% by LTIMindtree, and the latter will hold the remaining 49%. The JV is being built under the Aramco Namaat Industrial Investments Program.
"LTIMindtree is fully aligned with the Saudi Vision 2030. We are pleased to have been selected as the trusted partner for the joint venture," LTIMindtree's president and executive board member, Sudhir Chaturvedi, said in a press release. "KSA and MENA are amongst the fastest growing regions globally in the adoption of new technologies. With Aramco Digital, we will bring our global capabilities and expertise and leverage new technologies to deliver digital transformation suitable for giga projects, the government sector, high-growth industries, energy, manufacturing, and the financial services sector."
Photo by: LTIMindtree Website
