Mindtree top management resigned

Mindtree announced the resignation of chief executive officer Rostow Ravanan, chairman Krishnakumar Natarajan and vice chairman Parthasarathy NS, days after Larsen & Toubro Ltd (L&T) took a controlling stake.
Mindtree IT services companyMindtree in a statement on Friday said that all of them will stay on as board members until July 17. L&T was keen to retain the top management of Mindtree. It is expected that L&T will have its own top management to run Mindtree.

L&T acquired 60.06 percent stake in the Indian IT services company, and was categorized as a promoter.

The takeover came within months of Mindtree rejecting a hostile bid from L&T, saying that the plan was of no value for the company or its shareholders.