His sell-off of Tech Mahindra stock — 4.8 lakh shares for '44 crore in six transactions since March — should have been a dead giveaway. Yet, despite rumours within the company, many were baffled by the resignation late last week of Sanjay Kalra as chief executive of Tech Mahindra. “I want to take a break for the next two to three months — pursue hobbies like learning the piano or a foreign language; catch up with friends,” said the 47-year-old in a call to senior management.
Kalra spent over six years in the company. “I am disappointed and heartbroken that Sanjay has chosen to leave. I have worked with him for over 15 years,” said Vineet Nayyar, vice-chairman and managing director. Nayyar will take over operational responsibilities as CEO after September 15.
Both Nayyar and Kalra have known each other from their HCL Technologies days. Nayyar joined HCL in 1994 as vice-chairman and was founder and CEO of HCL Perot Systems. Kalra joined HCL in 1997 as executive president and was responsible for setting up Cisco's first outsourced R&D centre outside North America.
The trio of Nayyar, Kalra and C P Gurnani (who now heads Mahindra Satyam and will take over as CEO of the merged Mahindra Satyam-Tech Mahindra), were all former HCL employees roped in by Tech Mahindra before the company went public in 2006. They formed the key management executive team.
An IIT-Delhi alumnus with stints at DSL Software, Schlumberger and Tata Unisys, Kalra’s departure now leaves that trio truncated. But given his wealth of experience, it is unlikely he will spend much time practising his Arpeggios on the Steinway.
aThe weak unreliable middle management hsa become achilles heel for Tech Mahindra. The middle mgmt of Tech m is completely concentrated in pune and there is no diversity at this level. Due to lack of competence at this level senior management finds it to fulfill customer expectations. Sanjay had loss of face with customer due to failure of middle management. Many in Satyam who were deputed to Tech M during recession found the middel manager in pune office (the biggest center and head quarters of TechM) to be mere people managing syndicates furthering self perpetuation at company's cost. It is surprising that vineet has not noticed that fact the 90% ESOP were garnered by two local communities by manipulating appraisals in pune when the company went public.
now it is clear - these TechM jokers have killed another great company Satyam. Whole satyam management found TechM executive team to be completely ineffective and they lacked perspective, class and displayed zero ability to lead a company of satyam's stature. Vineet Nayyar, CP and co have successfully killed satyam as well! Surprising that Anand Mahindra is believing in this C class team for so long!
Sanjay is not capable of handling 20K+ emp based company. And for that matter not even TechM MD [Mr. Nayyar] or COO [L Ravi]. I do agree with below comments from Anu. TechM managment just tried to fool share market. They even showcase wrong promotion information to Sebi and other authorities. BT wants to get rid-off Tech Mahindra. So as Etisalat. Only client who is bit satisfied is AT&T that too because of Amdocs presence.
After failing misreable in tough market and loss of face with BT. (BT declared sanjay as persona non grata). Time off is a graceful reason a person with long and easy career can give after miserable failure in real competitive environment.
Hi colocation collaboration principle resultedin flight of business from Tech M to new players like WIPRO (who were elast equipped to handle BT work)
The mess up of BT account and the useless deals wiht etisalat, an sTEI which are not generating any good revenue (other than cheap publicity in news papers)
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