Srinivas Pallia, who was previously the CEO of the company’s Americas 1 area, will take over as the new CEO and Managing Director from April 7.
Thierry Delaporte
IT company Wipro has announced the resignation of CEO Thierry Delaporte from his position, according to a statement submitted to the exchanges. In his stead, Srinivas Pallia has been appointed as the new CEO, the company confirmed.
Wipro said in a company filing, “The Board of Directors noted the resignation of Mr Thierry Delaporte with effect from April 6, 2024. He will be relieved from the employment of the Company with effect from the close of business hours on May 31, 2024.”
Following Mr. Delaporte’s departure, the Board of Directors convened a meeting on April 6, 2024, concluding at 7 PM. In line with the recommendation of the Nomination and Remuneration Committee, the Board has approved the appointment of Pallia as the new Chief Executive Officer and Managing Director of Wipro. His appointment is effective from April 7, 2024, for a term of five years, subject to the approval of shareholders and the Central Government as applicable.
“In compliance with regulatory requirements, it is important to note that Pallia is not debarred from holding the office of director by any SEBI order or other relevant authority,” the filing added.
Aged 56 and hailing from France, Delaporte boasts three decades of experience in the global IT sector. Before assuming the role of Wipro CEO, he served as the Chief Operating Officer at Capgemini, a renowned French IT firm.
Appointed as the CEO and Managing Director of Wipro in July 2020, Delaporte has since steered the company with his extensive expertise. Founded by Mohamed Premji in 1945, Wipro underwent a transition following its founder’s passing, with Indian billionaire and philanthropist Azim Premji taking the helm as a non-executive member of the board.
Delaporte, until last year, stood as the highest-paid CEO in the Indian IT sector, boasting a salary package surpassing executives at HCL Technologies and TCS. Company filings revealed Delaporte had a hefty annual salary of over Rs 82 crore.
Delaporte in his resignation letter stated: “I am writing to resign from my position as CEO and MD of Wipro Ltd, effective April 6, 2024. It has been an incredible honour, and I am grateful for the opportunity 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. I will be available to the company till May 31, 2024. I wish the company continued success and prosperity in the future.”
Pallia, who’s assuming the role of Chief Executive Officer and Managing Director at Wipro Limited has had an illustrious career spanning over three decades, boasting a comprehensive understanding of Wipro’s diverse geographies, functions, service lines, and business units, enriching his leadership role with a wealth of knowledge and insight.
Having commenced his journey with Wipro in 1992, he has occupied various leadership positions, notably serving as the President of Wipro’s Consumer Business Unit and as the Global Head of Business Application Services. Most recently, he excelled as the CEO for Americas 1, Wipro’s largest and fastest-growing market, where he spearheaded a diverse portfolio of industry sectors, crafting their strategic vision and executing growth initiatives with precision.
His academic credentials include a bachelor’s degree in engineering and a master’s in management studies from the prestigious Indian Institute of Science, Bangalore. Additionally, he has enriched his expertise through executive programs at renowned institutions such as Harvard Business School’s Leading Global Businesses program and the Advanced Leadership Program at McGill Executive Institute.
