Subroto Bagchi quits as OSDA Chairman to nurture back Mindtree
Photo: The Indian Express/Abhinav Saha
Bhubaneswar: Subroto Bagchi, one of the co-founders of Mindtree and a well-known IT entrepreneur, on Sunday resigned as the head of Odisha Skill Development Authority (OSDA) stating that he will return to the information technology company in Bengaluru. He said that there is an imminent threat of hostile takeover of Mindtree which has forced him to resign from the Government to be able to go, and save the company.
Bagchi in his twitter handle, mentioned, “An imminent threat of hostile takeover of Mindtree has made me to resign from the Government to be able to go, save the company. I must protect the Tree from people who have arrived with bulldozers and saw chains to cut it down so that in its place, they can build a shopping mall.”
He further stated, “Mindtree has not been designed as an “asset” to be bought & sold. It is a national resource. It has a unique culture that humanizes the idea of business. It sets the standards of corporate governance. I need to be there in its time of difficulty. Hence the hard decision to return.”
Reportedly, Bagchi was invited to set up a unified body to guide, implement and oversee all skill development programmes in the State and on May 1, 2016, he took over as the Chairman, Odisha Skill Development Authority. He was given the rank and status of a Cabinet Minister at an annual salary of Rs 1.