LTIMindtree Ltd announced on Thursday that its Board has appointed Vipul Chandra as the company’s new Chief Financial Officer (CFO), following the resignation of the current CFO from his post. The new appointment will become effective from April 25, 2024.
The technology consulting and digital solutions firm informed the stock exchanges that its current CFO Vinit Teredesai resigned on March 7, 2024, in order to explore professional opportunities outside the Larsen and Toubro (L&T) Group.
His last day at the organisation will be on April 24, 2024, the company said in a filing to the stock exchanges. Teredesai has been the CFO of the company since June 2020.
The Board of Directors of LTIMindtree has accepted Teredesai’s resignation and upon recommendation of its Nomination and Remuneration Committee and Audit Committee, appointed Vipul Chandra as the company’s new CFO with effect from April 25, 2024.
Chandra currently serves as the Head of Treasury—Corporate Finance at L&T, joining the company in October 2013. He is responsible for various portfolios in the finance section including managing the banking relationships and operations, financial risk management, managing investments, advising on strategic transactions and fundraising, including Offer For Sale for LTIMindtree and L&T Technology Services, and the Open Offer for Mindtree Ltd.
The Board of Directors place on record their deep appreciation for Vinit’s contribution to the company during his tenure, stated LTIMindtree in a press release on Thursday, adding that Vinit played a key role in the profitable growth journey of the organization by establishing strong financial controls and governance, while also significantly contributing to the successful merger of LTI and Mindtree.
“Leadership planning is one of the key focus areas of L&T Group. Through career progression mapping we ensure that key talent gets experience of multiple roles within the system. Vipul Chandra has been in various senior roles within the organisation for more than a decade,” said the Chairman of LTIMindtree, AM Naik.
Shares of LTIMindtree closed 1.05% lower at ₹5,110 apiece on BSE.
(Edited by : Ajay Vaishnav)
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