The happiest mind name CEO

The happiest Minds Technologies Ltd has appointed its head of software products, Joseph Anantharaju, as CEO, marking a transformation that allows executive board members and the president to lead its various business units.

Since its inception in 2011, Anantharaju has worked for the Information Technology Services Company in Bangalore, where he is an executive vice chair, responsible for the happiest mind software products and platform departments. The happiest mind said in a statement Wednesday that he immediately served as chief of the CEO.

With the fact that the happiest idea founder Ashok Soota said hesitation, the organization has changed for less than five years. Instead, the company has an executive committee that includes three business leaders, similar to having three CEOs and one CFO.

The organizational structure of the happiest idea changed, as the ambitious march spanned $1 billion in March 2031 and was part of a larger overhaul.

Anantharaju, also co-chair of the happiest mind, will oversee all its business units – software products and platforms; infrastructure management; generative artificial intelligence (Genai). He will also be responsible for analytical and human resources functions.

Venkatraman Narayanan continues to serve as managing director and CFO. He will also lead the company’s finance, talent acquisition, internal IT, learning and development, ESG (Environmental, Social and Governance) and CSR (Corporate Social Responsibility) teams.

Narayanan and Anantharaju will jointly take care of the merger and acquisition and matters related to the board. They will report to Soota, who is responsible for the company’s chairman and chief mentor.

The happiest mind CEO appointment is the third largest overhaul of the IT services department in India in less than two weeks.

Four days ago, Nachiket Deshpande resigned as chief operating officer of Ltimindtree Ltd, taking over as the company’s president overseeing global AI solutions, strategic transactions and partnerships. On March 14, Wipro Ltd re-tuned its business weapons and announced four new commercial wings: technical services, business process services, consulting services and engineering.

The happiest mind’s income overhaul

The new organizational structure of the happiest mind is contrary to the company’s previous framework, which has four members on its executive committee – Anantharaju, Narayanan, Rajiv Shah, Ram Mohan C.

Shah is the happiest president, responsible for digital transformation and acquisitions, and Mohan leads the company’s software infrastructure and security business.

“Since its inception, Joseph has been the main driver of the happiest growth and profitability,” Soota said in a statement.

He did not answer Mint’s email, asking for clarity that he changed his heart when appointing the CEO.

The happiest mind has a long way to go to reach its $1 billion revenue target. As of the 12 months ending in March 2024, revenue was US$190 million, an increase of 10.3% over the previous year.

“The happiest mind is currently finalizing the fiscal year 26 plan, and the prospect of organic growth is encouraging due to the change over the past 18 months,” Soota said in a statement.

Without a CEO is not the only difference between software service providers. The happiest mind was one of the first IT service providers in India to have an AI-generation business unit, which had revenues of approximately $2.7 million as of December. More than three-quarters of customers who use their software products and digital services, or companies have $151 million in annual revenue.

The happiest mind was listed on the Indian Stock Exchange in September 2020. Revenues as of the end of March 2021 totaled US$104.6 million. Over the past three years, revenues rose 23.3% to $190 million by the end of March 2024.

However, its operating margin fell by 300 basis points during this period, with the rupees equaling 21.2%. A basis point is a percentage point of one percentage point.