Happiest Minds Reorganizes with Six New Industry-Focused Groups

27 Feb 2024 , 03:35 AM

Tuesday saw a 4.28% increase in the stock price of IT company Happiest Minds Technologies Limited following the announcement of a new vertical organisation structure that includes six new industry groups.

Hi-Tech and Media & Entertainment, EdTech, Retail, CPG and Logistics, Healthcare & Life Sciences, Industrial, Manufacturing and Energy & Utilities, and Banking, Financial Services, and Insurance (BFSI) are the new industry groups.

‘This new structure has enormous potential and will serve as the foundation for new growth engines, enabling us to compete better in global markets and realise our vision of reaching $1 billion in revenues by 2031,’ stated Ashok Soota, Executive Chairman.

‘This verticalization is a major event in the evolution and growth of Happiest Minds, changing the foundations of our organisation structure, while significantly augmenting our sales prowess and accelerating growth,’ stated Joseph Anantharaju, Executive Vice Chairman & CEO (PDES). Every Industry Group (IG) will have specialised teams with in-depth knowledge of the relevant fields. These teams will enable tailored solutions and quicker reaction times, which will improve our agility and spur innovation that will boost customer satisfaction and promote long-term success.

‘An IG Head leads each new Industry Group, which is in charge of the P&L, selling Product & Digital Engineering Services (PDES), Infrastructure Management & Security Services (IMSS), and Generative AI Business Services (GBS) to current and prospective clients. The IG Head is a market-facing leadership position that oversees sales, subject expertise, GTM, IG strategy, business plan, and general customer and employee satisfaction. The IT company stated in a stock exchange filing that ‘each IG Cluster will have specialised BDMs for existing account growth, in-house consulting capabilities, and dedicated teams with deep domain expertise.’

The head of Industry, Manufacturing, and Energy & Utilities will be Poornima Bethmangalkar. The VP and IG Head for Healthcare and Life Sciences will be Srinivas Iyengar.

Subhasis Bandyopadhyay will lead Banking, Financial Services, and Insurance (BFSI), while Priya Prasad will lead the Retail, CPG, and Logistics industrial group.

The leader of the EdTech industry group will be Viswanath Subramaniam, and in the upcoming weeks, the heads of Hi-Tech and Media & Entertainment will be revealed.

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