Mid-tier IT firm MindTree its board has elected a new chairman, after its executive chairman resigned from the company.
Albert Hieronimus, currently the chairman of Bosch Ltd, will step into the role of the non-executive chairman of the board effective immediately, MindTree said in a statement to the exchange.
Earlier, Ashok Soota, a co-founder, had resigned as the executive chairman from the company, but said he does not have any immediate plans for divesting his stake in the firm.
Shares of the Bangalore-based company, which have shed 30% of their value in the past three months, rose as much as 7.9%. At 9.36 am, they were trading up 5.06% at Rs 412.90 in a firm Mumbai market.
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