Ashok Soota Quit IT Firm- MindTree

Ashok Soota, who co-founded and led IT company, MindTree for past twelve years decided to quit the company to start another venture. Soota on 28 January 2011 informed that he put down his papers and asked the $300 million company board to release him by 31 March 2011 as an employee and also as executive chairman and member of the board.  Soota’s decision is being deemed as the result of fallout of differences in the management team on how to take company forward.

  
Soota, who was CEO of Wipro from 1984 to 1999, cofounded MindTree in August 1999 with nine others. Though MindTree saw one of the fastest rises in revenues amongst IT companies for many years, its performance in recent times had incurred losses on account of the poor performance of a wireless product business after it acquired Kyocera Wireless India.