WIPRO CEO THIERRY DELAPORTE
Wipro bags $500 million deal from US communications provider
The large deal win comes just two months after its new CEO Srinivas Pallia took charge following the resignation of its former chief Thierry Delaporte just seven days into the new fiscal year 2025.
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.
Wipro's Switzerland head quits; Bruno Schenk to take over
Indian IT major Wipro on Monday appointed Bruno Schenk succeeds René Mulder, who joined Wipro in February 2021 and has decided to pursue opportunities outside Wipro.
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.
Wipro's majority public shareholders oppose ex-CEO Delaporte's $4.33 million severance
At least 78.4% of the Azim Premji-led IT major's public shareholders or 10.31% of overall shareholders voted against the cash compensation awarded to Delaporte, showed the voting records published on BSE on Thursday.
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Wipro’s Rishad Premji takes pay cut, ex CEO Delaporte takes home $20 mn
Wipro executive chairman Rishad Premji declined variable pay for the second consecutive year due to negative profit growth. He took a 20% pay cut, earning $769,456 in FY24. Former CEO Thierry Delaporte became the highest-paid IT sector CEO with $20.11 million in compensation for FY24, including a $11 million separation payment upon resignation.
Thierry Delaporte, India's highest-paid CEO: Salary, Wipro role, education, experience
For the second consecutive year, Thierry Delaporte, the former managing director and CEO of Wipro, became the highest-paid CEO in the IT sector in FY24. On April 6, Delaporte submitted his resignation, and the company named 32-year veteran Srinivas Pallia in his stead.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
Wipro CEO banks on internal talent, promotes veterans
Focusing on inside talent comes at a time when it has been dealing with exodus of senior leaders. This also comes after a period when Delaporte hired a lot of foreign citizens and expats at high salaries.
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.
Wipro’s COO Amit Choudhary resigns; Sanjeev Jain appointed as successor
Sanjeev Jain joined Wipro in 2023 as the global head of business operations after his stint at Cognizant, GE, IBM and Kyndryl Holdings (IBM spin-off). He will report to new CEO and MD Srinivas Pallia.
Wipro's Pallia to moderate AI ‘crowdsourcing’ session with staff
In what might also be considered crowdsourcing of ideas, new CEO Srinivas Pallia will moderate a virtual session for staff on June 12 on ways to develop strategies to help clients in artificial intelligence.
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.
A month on, Wipro CEO Srinivas Pallia has townhalls, Q&As on checklist
Srinivas Pallia, the new CEO of Wipro, sets ambitious goals to accelerate large deal momentum, strengthen client relationships, focus on industry-specific profits, build AI-ready talent, and simplify the operating model for future growth.
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.
Lenskart's $200-million secondary; Wipro’s Delaporte’s golden handshake
Happy Thursday! Singapore investor Temasek and US-based fund Fidelity are preparing for a $200-million funding round in Lenskart along with Fidelity.
Wipro became IT's CXO nursery under Thierry Delaporte
During Delaporte's four years at Wipro, four Wipro former executives went on to become CEOs outside the company, while three became CFOs even as other senior leaders joined smaller and larger firms in top CXO roles.
Wipro's new hiker CEO Srinivas Pallia has a mountain to scale
Srinivas Pallia became the CEO of Wipro after Thierry Delaporte quit in a surprise move. Pallia said his immediate focus will be on supporting clients and stressed on "embracing bold ideas" and taking "calculated risks".
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.
No reason to sell Wipro and no reason to buy Bandhan Bank now: Sandip Sabharwal
Sandip Sabharwal shares insights on Wipro's challenges and CEO transition, Bandhan Bank's CEO resignation, stock uncertainties, and cautious stock selection strategies amidst market volatility and overvaluation. He emphasizes the importance of informed decision-making in the current market environment. Sabharwal further says: "I would be neutral in metal stocks after this kind of rally."
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.
What could change of guard at Wipro, Bandhan Bank mean? Sanjiv Bhasin explains
Sanjiv Bhasin optimistic about Wipro's performance, highlighting stability concerns in largecap IT. Bandhan Bank's CEO change viewed positively for long-term growth. Market at all-time highs driven by retail participation, with focus on HDFC Bank and Bank Nifty. Bhasin also says Bank Nifty may maintain status quo for some time till earnings catch up.
Wipro CEO Thierry Delaporte quits, to be replaced by Americas chief Srini Pallia
Srinivas Pallia, who was the CEO for the company's Americas 1 area, will take over as the new CEO and Managing Director from April 7, the company added.
Wipro a 'bit more' optimistic about next fiscal year due to AI
Wipro is feeling a "bit more" optimistic about its next financial year as clients spend more on artificial intelligence (AI) to reduce operating costs, the head of the Indian IT firm's Americas 2 business told Reuters on Wednesday.
IT companies take pole position on CEO pay front in India
C Vijayakumar, managing director and CEO of HCL Technologies, India’s third-largest IT services company by market cap, was the eleventh-highest paid, taking home $3.46 million, or about Rs 28 crore, (he is based out of the US) in FY23.
Wipro loses another top executive, chief growth officer Stephanie Trautman quits
Trautman’s exit comes just days after the last day of Wipro’s former Chief Financial Officer Jatin Dalal, who announced his resignation in September after his over two decade-stint at Wipro.
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