Mukund R.S., associate general counsel of telecom software company Symphony Teleca, a subsidiary of US-based Harman International Industries Inc., will join ISB Software Services Pvt Ltd as head of the company’s legal and company affairs. He will look after the company’s overall legal, compliance and contractual work, said a person privy to the development.
IBS Software is backed by global private equity firm Blackstone, which had picked up a minority stake in the travel, transportation and logistics technology firm from General Atlantic and other unnamed investors for $170 million (Rs 1,137.5 crore then) in 2015.
An alumnus of National Law School of India University, Bengaluru, Mukund had graduated from Christ University. He started his career with Reliance Industries Ltd. and had stints with Hinduja Global Solutions Ltd., Xchanging Ltd. and Heartland Information and Consultancy Services India Pvt Ltd., among others.
Indian software companies are witnessing a churn at the top level in their legal departments. Recently, Sujesh Somanathan left Infosys BPO to join a Canadian cloud software company as the global legal head.
An email query to ISB Software did not elicit any response. However, while contacted, Mukund confirmed the development over mail but refused to reveal more about his profile.
“The churn in the industry is due to the improving US economy. More work is coming to IT and ITES sector and hence companies are filling up many strategic positions, including head of legal,” said Karl Fernandes, Vice-President and Head of in-house practice group at legal and governance executive search firm Vahura.
Traditionally, IT and Technology are one of the major legal spenders. Last fiscal year, three IT majors – Infosys Ltd. (Rs 779 crore), TCS Ltd. (Rs 639.83 crore) and Wipro Ltd. (Rs 421.40 crore) – were among the top 10 legal spenders among listed Indian companies.
According to industry veterans, companies are also expanding their legal teams due to increased compliance requirements. Many recruitment agencies have received requests for candidates who could oversee both legal as well as compliance.
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