Following its takeover of Mindtree, L&T has said that the IT services company will operate as a separate entity, distinct from its existing technology businesses.

“Mindtree will be run as a separate entity, distinct from L&T Infotech (LTI) and L&T Technology Services (LTTS),” L&T CEO and managing director SN Subrahmanyan told CNBC-TV18. “The entities would be run at an arm’s length. It is inappropriate to speculate about the future structure now,” he added.

In one of the major hostile takeovers in corporate India, L&T successfully acquired a controlling stake in Mindtree last month.

“Continuity will be the key theme in the management transition. Mindtree will continue to provide top quality services to its clientele through the committed engagement of the Mindtree minds,” the L&T CEO said.

Following its takeover, the IT firm on Friday said its chief executive officer Rostow Ravanan, chairman Krishnakumar Natarajan and vice-chairman Parthasarathy NS have quit the company.

And Subrahmanyan said Mindtree’s new CEO will be announced in due course.

“No position is ought to be disturbed at Mindtree, and no changes are contemplated right now. There will be a new CEO for Mindtree, the announcement about which will be done in due course.

“Good practices of one company can be adopted by the other. There will be a council formed at an appropriate time in the future, where good ideas can be exchanged. We expect with our engagement, Mindtree, its employees, customers, investors and all associated stakeholders, will benefit in the years to come.

“L&T has been a people-centric company. Run and managed by professionals, the company is focused on good governance and value creation."