In a significant corporate development at Wipro Limited, the global information technology powerhouse has announced a pivotal leadership change. The board convened on April 6, 2024, in a decisive meeting that concluded at 7 PM, to address the transition following Mr. Thierry Delaporte’s departure from his role as Chief Executive Officer (CEO) and Managing Director (MD).
A New Era Begins
Effective April 7, 2024, Srinivas Pallia will take the helm as Wipro’s new CEO and MD, as approved by the Board of Directors. This strategic appointment, recommended by the Nomination and Remuneration Committee, marks the beginning of a new chapter in Wipro’s storied history. Pallia’s tenure is set for five years, contingent upon the endorsement of shareholders and requisite approvals from the Central Government, in alignment with regulatory mandates. The board’s announcement underscored Pallia’s eligibility for the role, noting his clearance from any disqualifications by SEBI or other authoritative entities.
Delaporte’s Illustrious Tenure
Thierry Delaporte, 56, a seasoned executive with a rich three-decade career in the global IT sector, hails from France. Before leading Wipro, Delaporte significantly contributed to Capgemini, a leading French IT firm, as its Chief Operating Officer. Under his stewardship since July 2020, Wipro not only enhanced its market presence but also saw substantial transformations that fueled both financial growth and broader positive impacts on its stakeholders.
Delaporte’s leadership period was marked by remarkable achievements, including becoming the highest-paid CEO in the Indian IT sector last year, with a staggering annual compensation surpassing Rs 82 crore, outmatching peers at HCL Technologies and TCS.
In his resignation letter, Delaporte reflected on his tenure with gratitude, emphasizing the transformative journey Wipro undertook. He reaffirmed his commitment to supporting the company until May 31, 2024, wishing it continued prosperity and success.
Pallia: A Visionary Leader
Stepping into the role, Pallia brings over thirty years of extensive experience within Wipro, demonstrating a profound understanding of the company’s operations, markets, and strategies. His journey since 1992 through various leadership positions has been instrumental in shaping the company’s direction. Notably, his roles as President of Wipro’s Consumer Business Unit and Global Head of Business Application Services have prepared him for this leadership summit.
As the CEO for Americas 1, Wipro’s most dynamic market, Pallia has showcased his exceptional capability in driving growth and crafting strategic initiatives. His educational background, with a bachelor’s degree in engineering and a master’s in management studies from the prestigious Indian Institute of Science, Bangalore, complemented by executive programs at Harvard Business School and McGill Executive Institute, positions him uniquely to steer Wipro towards future success.
This leadership transition signals Wipro’s continued commitment to innovation and growth, with Pallia at the forefront, ready to navigate the challenges and opportunities that lie ahead in the evolving global IT landscape.