Wipro CEO and managing director Thierry Delaporte has resigned from his position effective April 6, the company said on Saturday. Wipro has appointed Srinivas Pallia, a company veteran, as the new CEO and managing director with immediate effect.
Delaporte, who had joined Wipro from Capgemini, was at the helm of affairs at the IT services company for the last four years, and is stepping down to “pursue passions outside the workplace”.
“He (Delaporte) will be relieved from the employment of the company with effect from the close of business hours on May 31,” Wipro said.
Pallia has been with Wipro for over three decades and most recently served as the CEO for Americas 1, the company’s biggest and fastest-growing strategic market. In this role, he oversaw diverse industry sectors, established their vision, and implemented growth strategies, resulting in increased market shares within these sectors. Pallia is a member of the Wipro executive board.
Delaporte’s resignation comes amid quarters of underperformance, where Wipro has lagged rivals. It also witnessed a string of top-level exits, even as he brought in more leaders from Capgemini.
As investors and shareholders raised questions on its performance, chairman Rishad Premji had said in January that Delaporte had his and the board’s confidence.
“I would like to express my gratitude to Thierry for his leadership at Wipro. The changes he implemented have better positioned us for the future. We have optimised our structure, enhanced our leadership, prioritised partnerships, and improved our overall efficiency,” chairman Rishad Premji was quoted as saying on Saturday.
Delaporte, in his resignation letter, said it was an “incredible honour” to have played a role in the growth and success of Wipro. “During my tenure as CEO and MD, we have witnessed a significant transformation within the company that has not only driven financial growth but has also positively impacted our associates, clients, and shareholders,” Delaporte was quoted as saying in the release.
In 2023 alone, over 10 senior leadership members had quit the company, including chief growth officer Stephanie Trautman and chief financial officer Jatin Dalal.
The others who had quit included chief operations officer Sanjeev Singh, Americas 2 CFO Nithin V Jaganmohan, India head Satya Easwaran, iDEAS business head Rajan Kohli, vice president Gurvinder Sahni, Americas 1 CFO Kamini Shah, head of healthcare and medical devices unit Mohd Haque, and head of the manufacturing and hi-tech business unit Ashish Saxena.
During the October-December quarter, Wipro’s profit declined 12% year-on-year at Rs 2,694 crore, a fourth consecutive quarter decline.
The company had also adjusted its revenue growth guidance for the January-March quarter at both the lower and upper end. It updated its revenue growth guidance of -1.5% to 0.5%. This came after the company slashed the guidance to -3.5$% to -1.5% in the previous quarter.
