Mindtree Ltd’s chief financial officer (CFO) Pradip Kumar Menon has resigned after a little over a year, in the latest exit at the IT services firm after its hostile takeover by Larsen & Toubro Ltd (L&T) in June.
There have been at least six top-level exits at the Bengaluru-based firm since June, including those of co-founders and vice-presidents (VPs).
“Pradip Kumar Menon will be relieved from the services of the company from the close of business hours on 15 November," Mindtree said in an exchange filing on Thursday.
Someone from L&T is expected to take over as CFO, but Mindtree has maintained that the company “is in the process of taking necessary steps to fill the vacancy".
Menon, who had joined the firm in September 2018, played a key role in overseeing L&T’s acquisition of 60% stake in Mindtree. Prior to joining Mindtree, he was CFO and whole-time director at AkzoNobel in India. He has also worked with Unilever for more than 20 years.
Those who have resigned include Kamran Ozair, executive VP and a co-founder, who left soon after Mindtree’s founders Krishnakumar Natarajan, Parthasarathy N.S., and Rostow Ravanan resigned in July. In August, Gaurav Johri, senior VP of corporate strategy and planning, left to start his entrepreneurial venture Doppelio Technologies, which focuses on simplifying Internet of Things simulations, said a person familiar with the development, who wished not to be named.