LTIMindtree president markets Sudhir Chaturvedi resigns

Sudhir Chaturvedi

LTIMindtree's wholetime director and president of markets, Sudhir Chaturvedi, has stepped down from his role to "explore new opportunities".

His last day with the IT services major will be on January 27.

As Moneycontrol had earlier reported, COO Nachiket Deshpande had pipped Chaturvedi to become the frontrunner to succeed LTIMindtree CEO and MD Debashis Chatterjee whose term is expected to be over by 2025 end.

Chaturvedi has been instrumental in signing several recent deals making headlines, including setting up a joint venture (JV) with Saudi Aramco's IT services arm Global Digital with an initial investment of $12.3 million.

He was an Infosys veteran where he last served as a senior vice president and head of financial services- Americas, leading a $1-billion plus business unit. Before joining L&T Infotech, Chaturvedi was the COO of NIIT Technologies.

"He has been a valued member of the erstwhile LTI Board & presently the LTIMindtree Board since 2016, providing significant contributions to the Company's strategic direction and growth," the company said in a statement.

Chaturvedi was responsible for driving success across Sales, Marketing, Alliances, and other key strategic functions for the company.

S.N. Subrahmanyan, Chairman, LTIMindtree said, "I would like to extend my heartfelt gratitude to Sudhir for the remarkable impact he has made during his long tenure at L&T Group. His visionary leadership and unwavering commitment have been pivotal in shaping the foundation for the next phase of growth for LTIMindtree."

"From fostering strong relationships with some of our most esteemed clients to stepping in during critical moments of troubleshooting, Sudhir consistently. demonstrated exceptional strategic acumen and a steadfast passion to excellence. He has been a great colleague and a friend for life," he added.

Chatterjee, said, "We sincerely value his contributions, which have significantly advanced LTIMindtree and set the stage for continued success...As he embarks on the next chapter of his journey, we wish him continued success, happiness, and new accomplishments in all his future endeavours."

Sudhir Chaturvedi said "The time spent at L&T Group (LTI & LTIMindtree) has been an exhilarating journey, filled with opportunities to grow, learn, and contribute to this exceptional organization. It has been an honour to know Mr. A.M. Naik over the years. Working closely with Mr. S.N. Subrahmanyan, who has been a mentor and guide throughout this period, has been a privilege that I deeply value."

On January 17, Chatterjee told Moneycontrol in an interview that the succession plan is something that the company has been discussing for the last two years. "The bottom line is the succession plan is a board thing. The board already has been planning the succession and it is their prerogative and that's where it is. But I don't think there is anything that I am aware of."