Wipro announces Srini Pallia as new CEO
Upstox
2 min read • Updated: April 8, 2024, 3:17 PM
Summary
Pallia will be succeeding Thierry Delaporte who spearheaded the IT major for a period of four years. Delaporte joined Wipro in July 2020. During his tenure, shares of the IT major have more than doubled.
Shares of Wipro are trading flat after having pared some of its losses made during morning trade following the appointment of Srini Pallia as the Chief Executive Officer and Managing Director of the company, effective immediately.
Pallia will be succeeding Thierry Delaporte who spearheaded the IT major for a period of four years. Delaporte is stepping down to pursue passions outside the workplace, the company said in a release.
Pallia has been with the company for over three decades and most recently served as the CEO for Americas 1, which is 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, the company said. Pallia is a member of the Wipro Executive Board.
He 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.
Wipro Chairman Rishad Premji stated that Pallia has been an integral part of Wipro’s transformation. “His client-centric approach, growth mindset, strong execution focus, and his commitment to Wipro's values, make him the perfect fit as we enter the next chapter of growth and profitability,” Premji said.
Pallia holds a bachelor’s degree in engineering, and a master’s in management studies from Indian Institute of Science, Bangalore. He graduated from Harvard Business School and the Advanced Leadership Program at McGill Executive Institute. Pallia will be based in New Jersey and report to Premji.
Meanwhile, the Wipro Chairman also indicated that Delaporte will continue until the end of May, working closely with Pallia and himself to ensure a smooth transition.
Delaporte joined Wipro in July 2020. During his tenure, shares of the IT major have more than doubled. In the last one year, the stock has returned over 29% as compared to slightly over 21% recorded by the Nifty IT index.