BHUBANESWAR: Chairman of Odisha Skill Development Authority (OSDA) Subroto Bagchi stepped down from his post on Sunday citing hostile takeover threat to Mindtree, the leading IT services company of which he is the co-founder.
Bagchi took to social networking site Twitter to announce his resignation. In a series of tweet, he said, “An imminent threat of hostile takeover of Mindtree has made me to resign from the Government to be able to go and save the company. I must protect the Tree from people who have arrived with bulldozers & saw chains to cut it down so that in its place, they can build a shopping mall.”
In a subsequent tweet, Bagchi said, “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 was appointed by the State Government as the Chairman of OSDA in 2016. He was also given the rank of a Cabinet Minister.