Bhubaneswar:18/3/19: Mindtree co-founder and a well-known IT entrepreneur, Subroto Bagchi resigned as the Chairman of Odisha Skill Development Authority (OSDA) citing to return to Bengaluru to ‘save’ Mindtree.
Taking to his twitter handle, Bagchi wrote: “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.”
“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,” Bagchi further stated.
Notably, Bagchi was assigned to set up a unified body to guide, implement and oversee all skill development programmes in the State. On May 1, 2016, he took over as the Chairman of OSDA. He was given the rank and status of a Cabinet Minister at an annual salary of Rs 1.