LTIMindtree names former employee Venugopal Lambu as CEO designate

India’s sixth-largest IT firm LTIMindtree announced former president Venugopal Lambu as the CEO designate and full-time director. He is set to succeed CEO and MD Debashis Chatterjee, who took over the reins of LTIMindtree in November 2022 after the merger of Larsen & Toubro firms L&T Infotech and Mindtree.
 
Lambu has been appointed for a five-year term and will be based in London, the company said in a statement. Chatterjee's tenure in his current role is expected to end later in 2025. At present, Lambu will be closely working with him on a smooth transition and gathering insights into the current operations, yearly budgets and strategic plans of the company, the statement added.
 
Lambu was president of LTIMindtree's global markets business for three years until 2023 before leaving to lead the tech arm of staffing giant Randstad Digital, the digital arm of Randstad. He also served as the president for global markets at erstwhile Mindtree, where he led the global markets transformation and capabilities of the company in a three-year-long stint.
 
S.N.Subrahmanyan, Chairman of LTIMindtree said, “Venu’s homecoming to L&T will take LTIMindtree into its next chapter of growth and this will further strengthen our position as a leading global IT services provider.”
 
Lambu comes with over 30 years of experience in the IT industry having worked with Cognizant, HCLTech and IBM previously. He earned his bachelor's degree in Electronics Engineering from the University of Mysore and a general management certification from the London School of Business.
 
Earlier, LTIMindtree had evaluated COO Nachiket Deshpande and former president of markets Sudhir Chaturvedi to succeed as the CEO. Earlier this week, Chaturvedi had resigned from the company.

Read more: LTIMindtree’s president and a top candidate for CEO role steps down
 
The company saw a spat of exits over the last 12-18 months including Paresh Vankar (former CMO), Dinesh Bajaj (former senior VP and chief business officer), former CFO Vinit Teredesai, and Suresh Bethavandu (former chief people officer) stepping down from their roles.
 
In Q3 FY25 which ended December 31, LTIMindtree reported a consolidated revenue increase of 7.1% year-on-year to ₹9,661 crore ($1.12 billion) but a 7.1% decline in profit to ₹1,085 crore, falling short of analysts' expectations due to an 11% rise in employee-related expenses. More recently, Subrahmanyan has come under fire for his remarks on why employees should work 90 hours a week.