Definitions
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Etymologies
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Examples
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In 2008, as part of a succession plan, Soota had handed over his operational responsibilities to Krishnakumar, keeping strategy including M&A for himself.
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That's why employees, analysts and even his board members were stunned when chairman Soota, 70, sent out an email on January 28, stating he would no longer be part of the company from March 31, 2011.
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The official version behind's Soota's exit is that the board had worked out a succession plan for a while now and Soota wants to start a new venture after leaving MindTree.
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Over the past three years, after the 2007 IPO, cracks had begun to develop between the members of the internal board over the strategy and direction of the company, the individual roles and different leadership styles of three senior founders on the board and the division of responsibility between Soota and Krishnakumar Natarajan, CEO and MD.
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It isn't clear just how Soota's moving out will impact the firm's future.
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Ashok Soota had always been proud of the fact that all the 10 original founders of MindTree, the Bangalore- based IT firm, had remained together, through thick and thin, for the past 12 years.
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MindTree had never managed a products business before but Soota hoped it would add $100 million in revenue before 2014.
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In October 2009, as the head of strategy, Soota spearheaded a foray into making mobile handsets by acquiring the India R&D centre of Kyocera Wireless.
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This setback may have widened the growing chasm between vice chairman Subroto Bagchi and Soota.
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On the issue of sharing responsibilities with Krishnakumar, Soota said, Over the past three years, my operational involvement was reduced considerably and the only areas reporting to me last year were strategy and Mind- Tree Foundation.
teknokrat commented on the word Soota
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June 29, 2009