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MindTree inducts Manisha Girotra as board member

LiveMint logoLiveMint 21-05-2014 Anirban Sen

Bangalore: Mid-sized software services firm MindTree Ltd has made significant changes to its board appointing investment banking executive Manisha Girotra, while also elevating finance chief and co-founder Rostow Ravanan as an executive director to the board.

The appointment of Girotra, who is currently chief executive of the India arm of investment bank Moelis and Co., is effective immediately. Ravanan will continue in his existing role of CFO.

“As we move into the next phase of MindTree’s growth, Manisha’s vast global experience will be a great asset in guiding our strategy and providing us with enlightened oversight. She is a nationally respected business leader known for her ability to drive change,” said MindTree chairman Subroto Bagchi in a stock exchange filing.

The Bangalore-based firm, which was founded in 1999 by former Wipro Ltd executives, has made a number of changes to its board over the past year. Last year, it appointed Apurva Purohit to its board of directors—the Bangalore-based firm’s first woman board member—and elevated company veteran and co-founder Parthasarathy N.S. as an executive director.

Girotra’s appointment to the MindTree board also marks one of the handfuls of instances of women representation on the boards of Indian information technology (IT) services firms. According to a survey conducted by Dataquest magazine in 2012, women account for 22% of the Indian IT sector’s over three million workforce. But they are highly under-represented to company boards.

Among top Indian IT firms, Infosys Ltd currently has two women board members—Biocon managing director Kiran Mazumdar Shaw and former White House energy and climate change director Carol Browner.

Bangalore-based rival Wipro appointed former McKinsey executive Ireena Vittal as a director last year—its first woman board member in nearly three decades. Rival HCL Technologies Ltd has two women on its board—former VeriFone CEO Robin Abrams and Roshni Nadar Malhotra, daughter of HCL founder Shiv Nadar.

US-based Cognizant Technology Solutions Corp. has one woman board member—former Towers Perrin chief financial officer Maureen Breakiron-Evans, but larger peer Tata Consultancy Services Ltd has no woman representation on its board.

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