WIPRO CEO MD
Wipro merges two North American subsidiaries, liquidates Australian unit
Wipro merged its subsidiaries Designit North America and Wipro Designit Services, effective July 1st. In a separate move, they deregistered another step-down subsidiary Attune Australia Pty Ltd on June 26.
Under Pallia’s leadership, we are in for a bright future together: Wipro chairman
Wipro chairman Rishad Premji expresses confidence in new CEO Srini Pallia's leadership, foreseeing a bright future for the IT services company under Pallia's guidance.
Stocks in news: Adani Ports, Cipla, Prestige Estates, MCX, Lupin
Positive growth in domestic markets for the third consecutive week with a focus on Adani Ports, Cipla, Prestige Estates, MCX, Lupin. Updates on Thomas Cook India, SAIL, Wipro, Prestige Estates, Lupin, Cipla, MCX, TVS Motor, CSC Grameen eStores.
IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
How India's new brain power adds to its economic brawn
India is transitioning from being the telemarketing voice of MNCs to their intellectual hub with the rise of GCCs. These fully owned and integrated hubs are driving growth, innovation, and value creation by leveraging India's talent pool. With a projected doubling of GDP share by 2030, GCCs are transforming India's economy and IT landscape, attracting global companies seeking tech talent and cost efficiency.
Unpacking K Krithivasan's first year as TCS CEO
TCS CEO K Krithivasan completed a year in office this month. His term was marked by an unprecedented slowdown in tech demand. The veteran, however, has brought growth and stability for the bellwether. Under his leadership, TCS reached $29.1 billion in annual revenues in the year ending this March, growing at 4.1%.
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Here's how much top IT CEOs got paid in FY24
Indian IT services company leaders saw a rise in annual compensation amidst industry challenges. Infosys CEO Salil Parekh's remuneration increased by over a sixth to Rs 66 crore. LTI's CEO Debashis Chatterjee's total compensation grew by 10% to Rs 19.34 crore.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
Infosys CEO Salil Parekh's annual compensation grew to Rs 66 crore in FY24
Infosys CEO Salil Parekh's annual compensation grew 17.3% in FY24 and reached nearly Rs 66 crore, as per the annual report of the company. In FY23, Parekh's salary was Rs 56.4 crore.
IT’s bench strength halves as slump-hit companies eye efficiencies
The bench strength at top Indian outsourcers has nearly halved of late, with higher utilisation and generative artificial intelligence (GenAI) driving efficiency in the $254-billion IT industry. Bench strength in the IT industry means full-time employees who are not assigned any active project.
Wipro appoints Sarat Chand as MD for Northern Europe
Effecting a management rejig after the appointment of new chief executive Srinivas Pallia, the company had announced some incremental organisational changes last week, as reported by ET earlier. The firm had said Sarat, the current Wipro-Benelux MD, would lead Northern Europe.
Wipro sees more top deck changes under CEO Pallia's watch
New chief executive Srinivas Pallia is undertaking changes in the senior management of IT major Wipro. This is part of multiple changes Pallia is bringing about since he took the helm earlier this year, after the abrupt exit of Thierry Delaporte.
Delhivery slides back to losses; Prosus names new CEO
Logistics startup Delhivery fell back into the red for the March quarter but managed to narrow its losses on a year-on-year basis. This and more in today’s ETtech Top 5.
Digit IPO coming soon; TCS’ Krithivasan earnings
Bengaluru-based insurtech startup Go Digit General Insurance has announced that its IPO will open on May 15 and close on May 17. This and more in today’s ETtech Top 5.
Girish Mathrubootham steps down as Freshworks CEO
Freshworks founder Girish Mathrubootham has stepped down as the chief executive and is being replaced by Dennis Woodside. This and more in today’s ETtech Top 5.
Wipro’s new CEO Srinivas Pallia to get max pay of $7 million
Wipro's new CEO, Srinivas Pallia, to receive $7 million annual compensation for two years. Thierry Delaporte to be paid $4.33 million in cash. Pallia's contract for five years starting from 2024.
HCLTech CEO C Vijayakumar sees headwinds affecting Q1 financial services revenue
We have a good mix of programs and rely on broad base growth, says HCLTech CEO Vijayakumar. The firm saw strong growth in its financial services vertical in a difficult environment, said Vijayakumar.
With $11 million exit pay, Delaporte joins other CEOs in costly exits
An analysis of employment contracts of top IT leaders shows that in recent years, payments to exiting CEOs at companies such as Tata Consultancy Services (TCS), Cognizant and Wipro have ranged from Rs 48 crore to Rs 92 crore.
Wipro ADRs jump 4% despite Q4 PAT decline, softer guidance
Wipro’s revenue from operations in the reporting period declined 4% YoY to Rs 22,208 crore, compared with Rs 23,190 crore in the corresponding period of last year.
Wipro Q4 Results: Profit falls 8% YoY to Rs 2,835 crore, marginally misses estimates
Wipro Q4 Results: Wipro reported an 8% YoY decrease in net profit to Rs 2,835 crore for the quarter ended March 2024. PAT is slightly below estimates. Operating margins at 16.4%. Future outlook optimistic with a focus on AI transformation.
Wipro Q4 Results Preview: Muted show likely once again, all eyes on new CEO’s growth roadmap
Wipro Q4 Results Preview: The company is projected to see its consolidated revenue remain stagnant compared to the previous quarter and decrease by 4.3% year-on-year (YoY) to Rs 22,185 crore, based on the average estimates provided by 10 brokerage firms.
Expat CEOs a rare commodity in India Inc
According to data sourced from Prime Database, there are 28 non-India expat CEOs among the 2,521 CEOs cumulatively appointed by 2,048 listed companies at end of FY24. The number of expat CEOs has hovered around the same levels over the past decade with several being individuals of Indian origin.
Malay Joshi succeeds Srini Pallia as CEO of Wipro’s Americas 1
Malay Joshi's appointment comes just days after his predecessor, Srini Pallia, was appointed as CEO and MD of Wipro. In his former role, Joshi helped clients drive successful enterprise transformations, enhancing client experience (CX) and strengthening delivery.
Former Wipro CEO Thierry Delaporte recaps his four-year stint in email to staff
Justifying his work in an email to employees at Wipro, Thierry Delaporte said that the IT services major is seen as a “transformation partner” by its clients and is set for future growth. This even as Wipro has come under fire in the last few years for underperformance compared to its larger rivals. There has also been multiple senior level exits from the company.
Delaporte's note to Wipro staff; new CEO at Byju's Aakash
Amid a global generative artificial intelligence disruption, top-rung management professionals are driving demand for AI upskilling courses. This and more in today’s ETtech Top 5.
Wipro shares rose 116% under Thierry Delaporte's tenure. All eyes now on insider CEO
Wipro's market cap soared by Rs 1.36 lakh crore in 4 years under Thierry Delaporte, elevating shares by 116%. Srinivas Pallia succeeded him as CEO. Aparna Iyer was named CFO, maintaining internal leadership transition.
Wipro CEO Thierry Delaporte's resignation: Shares fall as quick turnaround unlikely
Investors will await clarity on any strategic or organisational changes and capital allocation from new CEO and MD Srini Pallia.
Restless investors, turnaround hopes await Wipro’s new CEO Srinivas Pallia
Wipro CEO Thierry Delaporte resigns, Srinivas Pallia takes charge facing tough times. Must boost morale, focus on large deals, client mining, integrate acquisitions, manage industry analysts, and address executive departures for company revival.
Startups tap new pools of capital; consumer lending apps hit profitability
Capital pools have diversified amid the broader tech slowdown with large global, crossover and hedge funds mostly staying away from cutting new cheques. Domestic firms and family offices such as those run by Zerodha cofounder Nikhil Kamath, Manipal Group chairman Ranjan Pai, and Premji Invest have backed startups including Subko, Quorum Club, Kites Seniorcare and The Sleep Company.
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