Wipro CEO Thierry Delaporte quits ahead of company's fourth-quarter results on April 19
Since 2008-09, Wipro has had four CEOs, including Delaporte, who was the COO of the Capgemini Group before joining Wipro as CEO and MD.
In a sudden development on Saturday (April 6), Wipro Ltd, one of India’s leading IT services companies, has appointed Srinivas Pallia as the CEO, replacing Thierry Delaporte.
The announcement comes barely a fortnight before the company's fourth-quarter results on April 19.
Pallia succeeds Thierry Delaporte, who, after spearheading a significant transformation at Wipro for the last four years, is stepping down to pursue passions outside the workplace. Pallia, who has been with Wipro for nearly three decades, will be based in New Jersey and report to Chairman Rishad Premji, a press statement to the Bombay Stock Exchange said.
Delaporte, a Frenchman, was based out of Paris.
According to previous reports, in addition to Pallia, two others were in the running for the top job: Suzanne Dann, CEO of Americas 2, and Pierre Bruno, CEO of Europe.
Since 2008-09, Wipro has had four CEOs, including Delaporte, who was the COO of the Capgemini Group before joining Wipro as CEO and MD.
He was brought in to transform the company and make tough decisions. He focused on growth and profitability and made bold bets and decisions to transform the company. One of his strategic decisions was the acquisition of Capco, which has significantly contributed to the company's growth in the BFSI sector and led to hundreds of synergy deals between the consulting and technology businesses.
Delaporte was also working on improving Wipro's fundamentals, increasing productivity, and establishing the systems needed to unleash pockets of margins. His tenure at Wipro was marked by significant leadership changes, both in new hires and departures. These changes reflect the company's efforts to transform and position itself for long-term success in a rapidly changing market.
Delaporte had proactively brought in new senior leaders to drive growth and transformation. He had hired a new Chief Growth Officer and installed a cadre of top account executives just twice removed from him to serve clients better and improve sales.
However, there were also notable departures during his tenure. Several long-serving top leaders, including Rajan Kohli and Angan Guha, left the company. Additionally, some 75 senior VPs and 300 general managers exited the firm in the first year after Delaporte took charge. These departures may have been part of the company's restructuring efforts, but they also highlight the changes and challenges that Wipro has faced during Delaporte's leadership.
Pallia, a member of the Wipro Executive Board, has been with Wipro for over 30 years and most recently served as the CEO for Americas 1, Wipro'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 an ideal leader to lead Wipro at this pivotal moment for our company and industry. Over the past four years, Wipro has undergone a major transformation under the most challenging external conditions.
Pallia has been an integral part of this journey. His client-centric approach, growth mindset, strong execution focus, and commitment to Wipro's values make him the perfect fit as we enter the next chapter of growth and profitability,” said Rishad Premji, Chairman, Wipro Ltd. “I’d 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 overall efficiency. This provides a strong foundation for Srini to build upon effectively.”
“Thierry will continue until the end of May, working closely with Srini and me to ensure a smooth transition,” added Rishad Premji. Pallia joined Wipro in 1992 and has held many leadership positions, including President of Wipro’s Consumer Business Unit and Global head of Business Application Services. The statement said Pallia brings extensive institutional and industry knowledge to the CEO role and a strong track record of leadership through some of the industry's most significant technological shifts.
“Wipro is one of those rare companies that combines profit with purpose, and I am truly honoured to have been chosen to lead this iconic institution. I am excited to build on the strong foundation established by Thierry and lead Wipro on its next growth trajectory. I have built my entire career at Wipro, and I have a deep appreciation of our 78-year history and our incredible team of more than 240,000 associates. We have the right strategy and tremendous people and capabilities throughout the organisation, and I am excited about the opportunities for future growth, Pallia said.
“I'm grateful to Rishad and the Board for the opportunity to lead Wipro through a period of significant transformation. I am proud of the solid foundation we have laid for Wipro’s future success. In the four years we have worked together, Srini has built a successful business in our largest market of Americas 1 and has become an important strategic partner to our clients. As I pass the torch to Srini, I'm confident he'll continue our journey, steering us to greater heights,” Delaporte said
Pallia holds a bachelor’s degree in engineering and a master’s in management studies from the Indian Institute of Science, Bangalore. He graduated from Harvard Business School’s Leading Global Businesses executive program and the Advanced Leadership Program at McGill Executive Institute.
