The
foundation
of trust

Governance
At the foundation of our organizational culture lies a steadfast commitment to business integrity and accountability. We strive to adhere to the highest standards of corporate governance and continuously work towards incorporating ESG priorities into our business operations. Our Board of Directors maintains a vigilant watch over enterprise risk management, ensuring that the interests of our stakeholders are always safeguarded and prioritized.
We act according to the following governance principles:

Act in the spirit of the law and not just the letter of the law

Do what is right and not what is convenien

Provide complete transparency in operations

Follow openness in communication with all stakeholders

Governance structure
Our governance structure is built to facilitate effective and transparent business conduct. Guided by our unwavering commitment to our governance principles, we endeavor to deliver sustainable, long-term value for all our stakeholders, including shareholders, employees, business partners, and society at large.

Governance strategy

Governance by shareholders

Shareholders appoint and authorize the Board of Directors to conduct business with objectivity and ensure accountability.

Governance by the Board and committees

The executive management and Board Committees take up specific responsibilities and day-to-day tasks to ensure that all activities are in accordance with the strategies and targets set by the Board.

Governance by executive management

The Board leads the strategic management on behalf of the stakeholders, exercises supervision through direction and control, and appoints various committees to handle specific areas of responsibilities.

The role of the Board

The Board decides on the Company’s strategy and exercises control over its affairs. The long-term performance of the Company is dependent upon the effectiveness with which the Board sets this strategic direction; reviews and assesses the initiatives taken in pursuance of this strategy; and assesses and understands issues and risks that determine the Company’s performance.

In its supervisory capacity, the Board monitors corporate performance and the behaviour of the executive team. This supervision includes strategy development, its design, and implementation. Board members actively discuss various ESG initiatives of the Company and encourage the senior management to go beyond regulatory requirements in their bid to create value for the long term.

Board expertise

As the ultimate decision-making body, the Board plays a pivotal role in defining the Company's strategic direction and exercising control over its affairs. At LTIMindtree, we believe that the diversity and expertise of our Board are essential to our success. By leveraging this collective wisdom, we can continue to deliver innovative solutions to our customers and create long-term value for all our stakeholders.

Board balance chart

3
Non-Executive Directors

7
Independent Directors (including one woman Director)

3
Executive Directors

Board demographics


63 years
Median Director age

2 years
Average tenure of Independent Directors

99%
Average attendance rate at Board meetings

Board Committees

As per the requirements of the law, various committees have been constituted by the Board. The Board Committees review the terms of reference as prescribed under the Regulations and update the Board periodically. Here are the main Board Committees:

  • Audit Committee
  • Nomination and Remuneration Committee
  • Corporate Social Responsibility Committee
  • Stakeholders’ Relationship Committee
  • Risk Management Committee
  • Strategic Investment Committee

Board of Directors

1. Anilkumar Manibhai Naik
Founder Chairman

SIC  NRC

2. S. N. Subrahmanyan
Vice Chairman

SIC

3. R. Shankar Raman
Non- Executive Director

AC  SIC

4. Debashis Chatterjee
Chief Executive Officer and Managing Director

CSRC   SRC  RMC

5. Sudhir Chaturvedi
Whole-time Director and President, Markets

SRC

6. Nachiket Deshpande
Whole-time Director and Chief Operating Officer

7. Sanjeev Aga
Independent Director

NRC

8. James V Abraham
Independent Director

CSRC

9. Rajnish Kumar
Independent Director

AC

10. Vinayak Chatterjee
Independent Director

RMC

11. Apurva Purohit
Independent Director

NRC  CSRC

12. Bijou Kurien
Independent Director

SRC

13. Chandrasekaran Ramakrishnan
Independent Director

AC  RMC


Anilkumar Manibhai Naik

Founder Chairman

Mr. A.M. Naik is a doyen of industry, reputed for his vision to conceive disruptive change and to drive transformation while boosting value. He has served Larsen & Toubro Limited (L&T) for nearly six decades of which close to two are in an apex leadership position. Taking over as Managing Director & Chief Executive Officer in 1999, and Chairman & Managing Director in 2003, Mr. Naik was appointed Group Executive Chairman in 2012. Effective October 2017, he stepped aside from executive responsibilities, while continuing as Group Chairman. Mr. Naik has been a Director of LTIMindtree since 1996 and is currently its Non-Executive Chairman.

Mr. Naik had articulated the IT vision which led to the parent company’s increasing involvement with the sector. He had envisaged the setting up of a market-facing and customer-centric organization that evolved into LTIMindtree Limited (earlier known as Larsen & Toubro Infotech Limited), and placing it on track to accelerated growth. Under his leadership, LTIMindtree has emerged as the sixth largest IT company in India.

He is the Honorary Consul General of Denmark. He was conferred the Danish Knighthood by Her Majesty Queen Margarethe – 2008 and a further honour, the Order of the Dannebrog – Knight First Class in 2015. Over the years, Mr. Naik has been recipient of many national honours, including the Padma Vibhushan (2019), the Padma Bhushan (2009) and Gujarat Garima (2009).

A committed, outcome-oriented philanthropist, Mr. Naik was instrumental in setting up the Larsen & Toubro Public Charitable Trust, which runs several skill training centers around the country. In his personal capacity, he has set up five schools, adopted over 40 and played a major part in the setting up and expansion of a ‘Vaidik’ school. He has also set up six hospitals in South Gujarat and Mumbai, including a 350-bed cancer hospital which was inaugurated by the Prime Minister of India.

Mr. A. M. Naik is the Non-Executive Chairman of the Company and the parent company, L&T. Under his guidance, the Company has moved rapidly towards achieving its business, social and environmental goals.

S. N. Subrahmanyan

Vice Chairman

Mr. S.N. Subrahmanyan is the CEO & MD of Larsen & Toubro Limited (L&T) and serves on the board of directors of this multi-billion-dollar conglomerate.

SNS, as he is popularly known, is also Vice Chairman on the boards of LTIMindtree Limited and L&T Technology Services Limited, and Chairman of L&T Metro Rail (Hyderabad) Limited and L&T Finance Holdings Limited.

Prior to becoming CEO & MD in July 2017, SNS led L&T’s infrastructure business to its position as the country’s largest construction organization and 14th in the world. He is now responsible for leading the breadth and width of L&T’s considerable business interests to new growth levels, riding on the enormous benefits of digitalisation, big data, and predictive analysis that he drives internally with exceptional zeal. He places a premium on innovation, project management and talent development, particularly in leadership roles.

SNS commenced his professional journey with L&T in 1984 as a project planning engineer armed with a degree in civil engineering and a post-graduation in business management. Mentored by stalwarts, he took on roles of increasing responsibility across business verticals. With an entrepreneurial mindset, drive, and foresight, he led L&T’s foray into executing developmental projects starting with the extremely successful HITEC City project in Hyderabad and Bangalore International Airport. He successfully set up the Ready Mix business in India for the first time, bagged mandates to design & build all major international airports in India, ventured into untapped geographies like the Middle East, Africa & ASEAN.

Under his leadership, SNS has transformed L&T into a Company that builds the tallest, largest, longest, smartest and most complex to Speed & Scale. L&T is among the three Indian companies to feature in the top 46 Most Honoured Companies according to the New York based B2B publication, Institutional Investor and has featured on the Forbes list as one of the world’s best employers.

SNS was ranked 8th in the Construction Week Power 100 Ranking for 2022. In 2020, he was ranked as the Top CEO (Sell Side) and the 3rd Best CEO (Overall) in the All-Asia Executive Team Survey conducted by Institutional Investor In 2019, he was conferred the Emergent CEO Award at the CEO Awards and in March 2022, he was recognized as the winner in the Infrastructure & Engineering category of the Business Today-PwC India’s Best CEOs ranking.

SNS holds positions of pre-eminence on various industry bodies, construction institutions and councils. In February 2021, he was appointed Chairman of the National Safety Council (NSC) for three years by the Union Ministry of Labour & Employment and he is one of nine founding members of the Climate Finance Leadership Initiative (CFLI).

R. Shankar Raman

Non-Executive Director

Mr. R. Shankar Raman is a qualified Chartered Accountant and a Cost Accountant. Over the past 39 years, Mr. Shankar Raman has worked in varied capacities in the field of finance.

Mr. R. Shankar Raman joined L&T Group in November 1994 to set up L&T Finance Limited, a wholly owned subsidiary.

Over the years, Mr. R. Shankar Raman assumed responsibilities to oversee the entire finance function at the Group level, including functions like Risk Management, Investor Relations, Mergers & Acquisitions and Legal. Mr. Shankar Raman was appointed as Chief Financial Officer of Larsen & Toubro Limited in September 2011 and subsequently elevated to the Board on October 1, 2011. Mr. Shankar Raman is also on the Board of Management of several companies within the L&T Group.

Mr. R. Shankar Raman has been a recipient of several awards, such as Best CFO of Asia in the Industrial Sector in a survey conducted by the prestigious New York-based Institutional Investor Magazine, winner of Best CFO Awards from CNBC TV18, Financial Express, and Business Today. He is also the recipient of the Life Time Achievement award in the field of Finance from Financial Express.

Mr. R. Shankar Raman is presently a member of the Advisory Committee to The Insolvency and Bankruptcy Board of India (IBBI) on Corporate Insolvency & Liquidation and also a member of the SEBI-Corporate Bonds and Securitization Advisory Committee (CoBoSAC). He is also a member of CII National Committee on Financial Reporting & CII National Committee for CFOs.

He is the past Chairman of the CII’s National Committee of CFOs. He was also a member of Uday Kotak’s Committee on Corporate Governance, constituted by SEBI.

Debashis Chatterjee

Chief Executive Officer and Managing Director

Mr. Debashis Chatterjee (‘DC’) has more than 35 years of industry experience in diverse areas such as managing customer relationships, building high-performance businesses, driving strategic alliances and M&A, and managing change and delivery across industries, technologies, and geographies. With a track record of successfully incubating and growing new businesses, DC led the industry-leading profitable growth of Mindtree as the company’s CEO and Managing Director prior to taking on his current role.

Before Mindtree, he worked with TCS and Nasdaq-listed Cognizant as President of Global Delivery and Digital Systems & Technology. In his role in Cognizant, he was responsible for the delivery of technology services across all industry segments. As a member of the Executive Leadership Team, he also participated in charting the strategic direction of the company. He was instrumental in laying the foundation of Cognizant’s Banking & Financial Services business and grew it to be the largest business within Cognizant.

He holds a bachelor’s degree in Mechanical Engineering from Jadavpur University. He has served twice as a member of the Executive Council of NASSCOM. A firm believer in the potential of technology to transform businesses and societies, DC actively mentors technologists and business leaders of tomorrow.

Sudhir Chaturvedi

Whole-time Director and President, Markets

Mr. Sudhir Chaturvedi, President, and Executive Board Member, is widely recognized for strategizing technology-driven business transformation. With 30+ years of experience spanning consulting, IT services, and software products across Europe, the USA, and Asia, Sudhir also holds a Board Member position at Syncordis Consulting, an LTIMindtree subsidiary based in Luxembourg.

A specialist in digital transformation, strategic sourcing, and building smarter organizations, Sudhir leads a dynamic sales, marketing, and alliance team at LTIMindtree. Since joining the company in 2016, he has been instrumental in transforming LTIMindtree’s brand, market, and business development, resulting in substantial growth in shareholder value, profitability, and market dominance. Before LTIMindtree, Sudhir was at NIIT Technologies Limited (now Coforge Ltd.), leading growth as the Chief Operating Officer.

A strong advocate of diversity and inclusion, Sudhir has built a diverse and multicultural team of senior executives from over 25 nationalities at LTIMindtree. He actively mentors young managers and is the executive sponsor for LTIMindtree’s award-winning leadership training initiative, iRise. Recognized as one of the Top 100 most influential BAME leaders in the UK Tech sector by Inclusive Tech Alliance and Financial Times, Sudhir has been honored with the Champion of Change Award from the Indian Business Women Conference. He serves as the executive sponsor for LTIMindtree’s Women in Tech program.

As a thought leader, Sudhir has addressed the French Senate, UK Parliamentary Committees, and various global industry conferences, most recently at the ISG Global Executive Provider Summit in Miami in January 2023. He holds a bachelor’s degree in mechanical engineering from Pune University, an MBA in Marketing from Symbiosis Institute of Business Management, and a second MBA focusing on finance and information systems from University of Leeds.

Nachiket Deshpande

Whole-time Director and Chief Operating Officer

Mr. Nachiket Deshpande is the Chief Operating Officer and Whole-time Director at LTIMindtree. His focus on global delivery, talent development, and capability building has helped the company reimagine its operations by implementing fast, frictionless, and nimble models to drive performance and service delivery.

“Customer centricity is the heart of everything I do at LTIMindtree. I am committed to every project and go beyond the financial goals. For me, it is about delivering value and breakthrough solutions.”

This approach resulted in a drastic 20-point jump in client satisfaction ratings and a top-notch 145% increase in Net Promoter Score.

Since joining erstwhile LTI in 2018, Mr. Nachiket Deshpande has been the pivotal change agent, leader, and navigator. Under his leadership, the Company has reimagined its operations and transformed its performance and service delivery management. He has instilled the philosophy of customer centricity and a solution-oriented mindset in the team, resulting in consistent and predictable operational metrics. Moreover, due to his future-ready management approach, he has ensured that operations are optimized to match the threefold increase in headcount.

LTIMindtree modernized and streamlined its operations for clients and partners thanks to his focus areas, including engineering, cloud computing, and data & analytics, which are also reflected in the acquisition of Cuelogic, Powerupcloud Technologies, and Lymbyc and Mosaic, respectively. He is also passionate about metaverse and is helping clients with related strategies. He was instrumental in setting up a dedicated “Metaverse Practice Unit” that provides clients with the means to deploy futuristic immersive experience-based services faster.

He has a proven track record of more than 25 years of leading and managing teams in complex IT projects and digital ecosystems across verticals, technologies, and geographies.

He is also an entrepreneur at heart, having aligned actively with the global startup ecosystem where he mentors the leaders, innovators, and game changers of tomorrow.

Sanjeev Aga

Independent Director

Mr. Sanjeev Aga spent his formative business years with Asian Paints in field sales and marketing responsibilities. He later headed the Furniture and Leo-Mattel Toys businesses of the erstwhile BlowPlast, now VIP Industries, before leading that company as MD from 1993 to 1998. In subsequent times, Mr. Sanjeev Aga has been Managing Director of Aditya Birla Nuvo, and more notably the Managing Director of Idea Cellular in its breakout years, before he stepped down in 2011.

For 2009, Mr. Sanjeev Aga received on behalf of Idea Cellular the ET Award for The Emerging Company of the Year. In 2009, Indira Innovation named him CEO of the Year, and in 2010 Tele. Net felicitated him for Outstanding Contribution to the Telecom Sector. In 2010, Forbes Magazine shortlisted Mr. Sanjeev Aga for the Person of the Year. The Scindia School conferred upon him the Madhav Award 2014 for the Old Boy Of Eminence.

He now engages in advisory and board roles for reputed corporates and not-for-profit organizations. He also serves on the Board of other listed and unlisted companies.

Mr. Sanjeev Aga did his schooling from Scindia School, Gwalior, graduated with Physics Honours from St. Stephen’s College, Delhi and is a business management post graduate from IIM Kolkata.

James V Abraham

Independent Director

Mr. James Abraham is the Co-Founder of Mynzo Carbon, developing a platform to engage people on the road to Net Zero.

He was one of the Founding Partners of The Boston Consulting Group (BCG) in India from 1998 to 2009, leading the expansion of the firm into New Delhi. He has been involved across sectors including power, transport, infrastructure, telecom, and consumer goods; covering a range of issues from business planning and acquisitions to organisation development and financial structuring.

In 2009, Mr. James Abraham was a Senior-Partner with BCG, when he left to lead SunBorne Energy, where he was also involved in the early formulation of solar policy in India.

In 2014, he co-founded SolarArise, which focuses on financing, owning and managing utility-scale solar-power plants. SolarArise was one of the earliest to adopt solar tariffs that were lower priced than fossil fuels. In 2022, the firm was sold to a listed Investment Trust in the UK (Thomas Lloyd Energy Impact Trust).

He is a fellow of the Aspen Global Leadership Network, the Kamalnayan Bajaj Fellowship of the Ananta-Aspen Center, and a senior moderator of Aspen’s leadership programs. He’s also on the Board of the Ananta Center in India and chairs the Center’s Leadership Committee. He also serves on the Board of other listed and unlisted companies.

He earned a Bachelor of Science degree in electrical engineering from the University of Waterloo, an M.B.A. (Palmer Scholar) from Wharton, and an M.A. (International Relations) from Johns Hopkins University.

Rajnish Kumar

Independent Director

Mr. Rajnish Kumar is former Chairman of State Bank of India. He completed his 3 years term as Chairman in October 2020. He is credited with steering the bank successfully through very challenging times. During his tenure, Bank developed YONO, a digital platform, which has established bank as a global leader in adoption of technology and innovation.

Mr. Rajnish Kumar is a career banker with nearly four decades of service with State Bank of India. His expertise in corporate credit and project finance is well recognized. He served the bank in various capacities across the country including in the North East as Chief General Manager. He successfully managed UK operations of the Bank immediately after the crisis caused by the collapse of Lehman Brothers. Earlier he worked as Vice President (Credit) at Toronto.

Mr. Rajnish Kumar was also the Chairman of SBI’s subsidiaries, important ones being, SBI Life Insurance Company Limited, SBI Foundation, SBI Capital Markets Limited, and SBI Cards & Payments Services Limited. He also served as Director on the boards of various organizations, viz. Export- Import Bank of India, Institute of Banking Personnel Selection, National Institute of Bank Management, Pune, Indian Banks’ Association, Khadi & Village Industries Commission, Indian Institute of Banking & Finance, among others.

He also serves on the Board of other listed and unlisted companies. He is a Member, to the Board of Governors, Management Development Institute, Gurugram.

Mr. Rajnish Kumar has done M.Sc. in Physics from Meerut University and is also a Certified Associate of Indian Institute of Bankers (CAIIB).

Vinayak Chatterjee

Independent Director

Mr. Vinayak Chatterjee graduated in Economics (Hons) from St. Stephen’s College, Delhi University and did his MBA from the Indian Institute of Management, Ahmedabad. He co-founded Feedback Infra Private Limited in 1990 and served as its Chairman from 1990 to 2021. Since stepping down from active management, he now devotes his time and energy to Infrastructure Policy, Advocacy and Capacity Building; and for this purpose has recently founded The Infravision Foundation, where he is a Managing Trustee.

He has often been called upon to play a strategic advisory role to leading domestic and international corporates, the Government of India, various Ministries dealing with infrastructure, as well as multilateral and bilateral institutions in the areas of infrastructure policy, planning and implementation. He is one of the leading proponents of the Public-Private Partnership (PPP) model for developing India’s infrastructure. One of his more recent engagements with the Government of India relate to being a Member of the Committee on Setting up a DFI (Development Finance Institution).

In 1998, the World Economic Forum at Davos recognized him as one of the 100 Global Leaders of Tomorrow. In 2011, the Indian Institute of Management, Ahmedabad conferred on him the “Distinguished Alumnus Award”.

He is currently the Chairman of the Confederation of Indian Industry’s (CII) “Mission on Infrastructure, Trade and Investment”; and has chaired various Infrastructure Committees at the national level of CII since 2001.

He also serves on the Board of other listed and unlisted companies. He serves as the Chairman of the Board of Governors of the Indian Institute of Technology, Dharwad, and is on the Board of Indian Institute of Management, Sirmaur.

He is a well-read columnist and writes a monthly column on infrastructure for Business Standard called ‘INFRATALK’. He has authored a book titled “Getting it Right – India’s Unfolding Infrastructure Agenda” published in 2011.

Apurva Purohit

Independent Director

Ms. Apurva Purohit is an Indian businesswoman with over three decades of experience in the corporate world, where she formed significant partnerships with private equity firms and promoters to build and scale up a diverse set of businesses - from early-stage fledgling businesses, to setting up new ventures and to supervising turnarounds in mature and declining organizations.

She also serves on the Board of other listed and unlisted companies. Ms. Apurva Purohit has recently launched Aazol Ventures Private Limited, a consumer products Company which aims to create a market for traditional food items made by self-help groups and micro-entrepreneurs, by reconnecting Indian consumers with their roots and the local food of their regions.

She has been a leading voice in the Indian business landscape, advocating gender diversity, probing what ails it, and what organizations and leaders can do to improve this critical imperative. She is also the author of two national bestsellers, ‘Lady, You’re not a Man–the Adventures of a Woman at Work’ and ‘Lady, You’re the Boss!’.

Over the years, Ms. Apurva Purohit has won multiple business awards and has been named as one of the Most Powerful Women in Business by the India Today Group and Fortune India over several years. She was awarded the Distinguished Alumni Award from IIM Bangalore in 2022.

She holds a Bachelor’s degree in Science (Physics) and completed her PGDM from IIM, Bangalore.

Chandrasekaran Ramakrishnan

Independent Director

Mr. Chandrasekaran Ramakrishnan has had an exemplary career spanning over 34 years in the field of information technology. He retired as Executive Vice Chairman of Cognizant, India, as of March 2019. He also serves on the Board of other listed and unlisted companies. He is also part of the Chairman’s Council, NASSCOM.

He joined Cognizant as a member of the founding team. He has been widely recognized as a significant contributor to growing the company to over 250,000 employees, USD 16 Billion+ in revenue and establishing the global delivery footprint.

After earning his engineering degree from Regional Engineering College, Trichy (National Institute of Technology), he started his career with Ashok Leyland, where he spent four years. After his MBA from the Indian Institute of Management Bangalore in 1985, he joined TCS, where he held positions of increasing responsibility and stature, including stints in the UK and the US.

He is very passionate about education and is on the Advisory Board of Thiagarajar College of Engineering, Madurai and on the Post Graduate Program Committee of NIT Trichy. He is an active supporter of social causes, sponsoring education for underprivileged children, promoting digital literacy in rural areas, offering scholarships to deserving students in NIT and also supporting research in IIM Bangalore.

Bijou Kurien

Independent Director

Mr. Bijou Kurien has over 35 years of experience with marquee brands in India’s fast-moving consumer goods (FMCG), consumer durables, and retail industries. He was among the founding members of Titan Industries and Reliance Retail and helped build the foundations, and then led and grew multi-billion-dollar businesses. Currently, he advises two leading private equity funds and an Entrepreneurship Incubation Center.

He also serves as an Independent Director on the Boards of several listed and unlisted companies and is the Chairman of the Retailers Association of India (RAI), an Advisory Board member of the World Retail Congress and is on the governing boards of two academic institutions.

He has a Postgraduate Diploma in Business Management from XLRI, Jamshedpur.