Mindteck Announces Resignation of Anand Balakrishnan, Managing Director and CEO

Bengaluru (Karnataka) [India], March 5: Mindteck (India) Limited (BSE: 517344 and NSE: MINDTECK), the global engineering and technology solutions company with niche knowledge and expertise in the storage, medical device, semiconductor and analytical instrument industries, today announced that Anand Balakrishnan has tendered his resignation as Managing Director and Chief Executive Officer, effective May 31, 2025. He will continue to serve in his role for the next three months, as per the terms of his contract, ensuring a smooth transition.

Anand Balakrishnan has been at the helm of the Company for the past five years, driving a successful transformation that has resulted in sustainable growth, and improved liquidity. Reflecting on his tenure, Anand Balakrishnan stated, "The journey over the past five years has been both rewarding and challenging. With Mindteck now well-positioned for continued success, I believe this is the right time for a leadership transition. My decision to step down is based on personal reasons, and I look forward to focusing on these important aspects at this stage in my life. I extend my deepest thanks to our employees, customers, partners, shareholders and members of the Board for their unwavering support throughout this period."

Yusuf Lanewala, Chairman of the Company commented, "While we regret to see Anand step down, we fully respect his decision to focus on personal priorities. Over the past five years, Anand has been instrumental in positioning Mindteck for long-term success. On behalf of the Board, I would like to thank him for his significant contributions, and we wish him all the best in his future endeavours."

The Board of Directors has accepted the resignation of Anand Balakrishnan, and the Nomination and Remuneration Committee will select a suitable candidate.

For more information, contact gnana.murthy@mindteck.com.

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