LTIMindtree names Venu Lambu as its next CEO

LTIMindtree has announced the appointment of Venu Lambu as the CEO (designate) and whole-time director of the company. The appointment is effective immediately and draws curtains to the uncertainty over the company's impending leadership change. However, the exact date of him taking over as CEO is yet unclear. Debashish Chatterjee, who took over the company after the Mindtree acquisition, is looking at the end of his term with the company at the end of 2025. Lambu will be based out of London.

Venugopal Lambu, who was earlier the president – Sales in his previous stint with the company, has been appointed for a tenure of 5 years from January 24, 2025, up to January 23, 2030. He joined the company in 2020 from Cognizant and quit the company in January of 2023.

“This move reflects our dedication to fostering a seamless transition in leadership, preserving the company's legacy, and positioning us for future opportunities. Venu is a bright leader who has amazing solution-providing capabilities and is a phenomenal networker. We are confident that Venu’s homecoming to L&T will take LTIMindtree into its next chapter of growth and this will further strengthen our position as a leading global IT services provider,” said S.N. Subrahmanyan, chairman, LTIMindtree, in a statement on the appointment.

Venu had earlier left LTIMindtree to join Randstad Digital as its CEO, focused on global capability centres (GCCs) business in India and driving its revenues. In his previous roles, he also held various positions at Cognizant, HCL Technologies, and IBM.

In the latest quarter gone by the company had posted earnings marginally ahead of street estimates. Its revenue at $ 1.13 billion up 1.8% q-o-q and +5.6% y-o-y in constant currency terms. At the company's earnings call, Debashish Chatterjee told analysts how the company was redirecting its cost-saving into AI.” The continuing client focus on cost reduction and vendor consolidation is supporting a strong pipeline. The savings generated from these cost-cutting measures are directed towards pilot programs and scaling AI initiatives. AI spends have started shifting from point proof of concepts (POC) to scaled projects in select areas as well as in foundational data and infrastructure" he said. LTIMindtree has set out an ambitious target of becoming a $10 billion revenue firm from the current $4.3 billion (FY24) by FY32 at a profit margin of 17-18%.