IT services provider LTIMindtree grooming two insiders for CEO job

LTIMindtree, India’s No.6 IT services provider by revenue, has identified two internal candidates for the top job as it is unlikely to extend CEO Debashis Chatterjee’s term that is set to end next year, according to two persons familiar with the matter.

Chief Operating Officer Nachiket Deshpande and President Sudhir Chaturvedi are the front-runners for the role as the board prefers to have an insider at the helm of the company, one of the persons said.

LTIMindtree and the executives did not respond to Reuters’ requests seeking comment.

The succession plan unfolds amid a broader churn in the C-suites of the $245-billion Indian IT industry that is grappling with weak client demand in the face of inflationary pressures and global macroeconomic uncertainty.