BANGALORE: Technology services provider Mindtree is working on refreshing its leadership ranks with talent from outside as the $450-million company builds sufficient management bandwidth to chase its ambitious growth targets. The Bangalore-based company recently hired Paul Gottsegen fromÂ Infosys as head of marketing and strategy, and plans to fill a third of its senior leadership team with external hires.
â€œSociologically, any immigrant society grows faster than a nonimmigrant society. Because a smart outsider brings a new perspective to a smart insider, you need both of them to operate together,â€ said Ravi Shankar, chief people officer who joined the company from HCL Technologies last year. For Mindtree, 95% of whose current executive leadership is homegrown, the aim is also to make leadership more global and multicultural.
While hires at the CXO level are more visible,Â Mindtree said over 15 executives had joined in the recent past at various leadership levels in sales. In all, the company plans to induct leaders at the CXO level and at two levels below that.
These would include executives leading sub-verticals and centres of excellence. At 5.4% sequential growth in dollar terms, the midsized IT services provider beat analyst estimates and was faster than Infosys and Wipro in the September quarter.
With aspirations of joining the $1-billion club in the medium term,Â Mindtree is looking to expand into consulting and implementing Oracleâ€™s enterprise software. The company said it is looking to acquire an existing service provider to acquire this capability and is willing to spend up to $50 million.
Outside of business software SAP consulting and implementation, this represents one of the largest system integration opportunities for outsourcing companies like Mindtree, which already has strong offerings in the former.
In recent years, TCS, Infosys and HCL Technologies have all beefed up their enterprise software capability with acquisitions in Europe. Mindtree cofounder and COO Parthasararthy NS said the company was geography agnostic and open to acquisitions from any region as long as the target company operates in the same industry verticals as Mindtree.
Experts saidÂ Mindtree‘s plan to induct outsiders into senior leadership is a very prudent move. â€œThe company recognises that to go to the next level, they need to do things differently â€” they need to bring in global talent, people with an understanding of scale and the global market,â€ said CK Guruprasad, principal, Heidrick & Struggles. â€œNot many companies are able to acknowledge that.â€ (Source: E)