BENGALURU (Reuters) - Mindtree Ltd said on Friday its top bosses, including Chief Executive Officer Rostow Ravanan, have submitted their resignations to the board, days after conglomerate Larsen & Toubro Ltd (L&T) took a controlling stake.
Executive Chairman Krishnakumar Natarajan and Executive Vice-Chairman Parthasarathy NS have also stepped down from their posts, the company said.
All of them will stay on as board members until July 17.
L&T acquired a 60.06% stake in the Indian IT services company on Wednesday, 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.
Reporting by Chris Thomas in Bengaluru, Editing by Sherry Jacob-Phillips