As with Infosys, the Mindtree row is just another case of founders’ folly
How will various stakeholders react?;
- Yet another leading IT outsourcing firm in India is in the eye of a storm as its founders refuse to let go of the reins.
- Bengaluru-based Mindtree has made headlines after one of its investors, the owner of coffee chain Café Coffee Day (CCD), VG Siddhartha, struck a deal to sell (pdf) his 20.32% stake in the company to Indian engineering giant Larsen & Toubro (L&T).
- The decision did not go down well with co-founders Krishnakumar Natarajan, Subroto Bagchi, Parthasarathy NS, and CEO Rostow Ravanan, who deemed the hostile takeover “a grave threat
- Narayana Murthy by passing the baton forward from one founder to another.