LTIMindtree’s president and a top candidate for CEO role steps down

LTIMindtree, India’s sixth-largest IT services company, announced the resignation of Sudhir Chaturvedi, its president of global markets. Chaturvedi – along with chief operating officer Nachiket Deshpande – was a leading candidate to succeed current CEO Debashis Chatterjee, whose term ends later this year. 

Chaturvedi joined Larsen and Toubro Infotech Ltd in September 2016 and became president of global markets in November 2022 following the merger with Mindtree Ltd. His departure comes after former CFO Vinit Teredesai left in April 2024 to join Persistent Systems Ltd. 
Other notable exits in the last 12-18 months include Paresh Vankar (former CMO), Dinesh Bajaj (former senior VP and chief business officer), Venugopal Lambu (whole-time director and markets president), and Suresh Bethavandu (former chief people officer).

Chaturvedi is reportedly leaving to pursue new opportunities, as stated in a company filing. Before LTIMindtree, he served as COO at NIIT Technologies and held various roles at Infosys, Ernst & Young, AF Ferguson, and Ogilvy & Mather, accumulating experience across multiple continents and sectors.

An advocate for diversity and inclusion, Chaturvedi has mentored young managers and supported initiatives like LTIMindtree’s iRise. He has been recognized as one of the Top 100 most influential BAME leaders in the UK Tech sector and received the Champion of Change Award from the Indian Businesswomen Conference. 

He holds a mechanical engineering degree and dual MBAs from the University of Poona and the University of Leeds, focusing on Finance and Information Systems. He is regarded as a thought leader in the tech sector, having presented at prominent venues such as the French Senate and UK Parliamentary Committees.

S.N. Subrahmanyan, chairman of LTIMindtree, praised Chaturvedi for his strategic insight and dedication, calling him a valued colleague and friend. More recently, Subrahmanyan has come under fire for his remarks on why employees should work 90 hours a week. Chaturvedi is expected to remain in his role until January 27, but no successor has been named yet.

In Q3 FY25 which ended December 31, LTIMindtree reported a consolidated revenue increase of 7.1% year-on-year to Rs 9,661 crore ($1.12 billion) but a 7.1% decline in profit to Rs 1,085 crore, falling short of analysts' expectations due to an 11% rise in employee-related expenses.