Debashis Chatterjee, the CEO and MD of IT firm LTIMindtree, has announced his retirement effective May 30, six months before his term was set to end. Chatterjee’s decision to retire is due to personal reasons. Venugopal Lambu, currently the CEO Designate, will take over as CEO and MD of LTIMindtree starting May 31. Lambu has also been appointed as a director on the company’s board, effective May 31, 2025.
Lambu previously worked at LTIMindtree from October 2020 to January 2023 and was appointed CEO designate in January this year. He has also served as the CEO of Randstad Digital, the digital arm of Randstad. Lambu’s return to LTIMindtree is seen as a strategy to stabilize the company, which has experienced a series of senior executive exits over the past two years. Chatterjee led the newly formed LTIMindtree after its merger with L&T Infotech in November 2022 and has been working closely with Lambu to ensure a smooth leadership transition.
LTIMindtree has reported subdued financial numbers in recent quarters, with a 2.5% increase in profit and 9.9% revenue growth in the fourth quarter of FY25. The company’s net profit declined 1.7% to $544 million for the full year, while revenue grew 4.8% to $4.5 billion. The company’s order book for the January-March period declined marginally to $1.6 billion, but improved from $1.43 billion a year earlier.
Despite the challenges, LTIMindtree recently clinched its largest-ever deal, a $450 million, seven-year engagement with a global agribusiness player. The company is hoping to turn around its fortunes under Lambu’s leadership. Lambu’s experience and familiarity with the company are expected to bring stability and continuity to LTIMindtree, which has been facing macro uncertainties and cautious client spending. The board’s decision to appoint Lambu as CEO and MD is seen as a positive move, and the company is expected to benefit from his leadership and expertise.