New Wipro CEO bets on company’s resilience to get back to growth
Wipro CEO Srini Pallia talked about the company’s resilience and adaptability to navigate through technology cycles as well as industry shifts.
Wipro's new chief executive officer, Srini Pallia, expressed confidence that the IT services company has the resilience and adaptability to return to its growth trajectory.
“Through numerous technology cycles and industry shifts, I have seen our company's remarkable resilience and adaptability and the commitment of our incredible people to our collective success,” Palia wrote in a post on LinkedIn.
In a sudden development, Wipro recently announced the appointment of Srini Pallia as the new CEO, replacing Thierry Delaporte who headed this role for four years.
Pallia is a Wipro veteran with around 30 years working in the company. He previously headed the Americas business for the company. His elevation to the top job comes at a time when Wipro is struggling to maintain the growth momentum like its peers: TCS, Infosys, HCLTech and Cognizant.
However, Palia said, “There’s a lot of work still to be done ahead of us. As we enter a new era fueled by rapid technological progress, I am energised by the possibilities ahead for our company and our industry.”
He also paid compliments to the outgoing CEO for laying the strong foundation of transformation at Wipro.
Wipro once was the third-largest IT services exporter behind just Infosys and TCS. Now, it is in fourth position being overtaken by HCLTech.
Meanwhile, the outgoing CEO, Delaporte, recalled his four-year term at Wipro on LinkedIn. “I came in to fundamentally transform and modernise Wipro for the future. It has been a priority to perform while transforming; to introduce client-centric guiding principles of agility, excellence, and investments in new technologies and systems.”
He also remarked that during his tenure as CEO, Wipro’s revenues grew by 35%, generating 25% more profit in the last four years than in the previous four-year period. Also, the market capitalisation of Wipro has grown by 2.5X since 2020.
Now it remains to be seen how the new CEO of Wipro navigates the company through multiple challenges, both internal and external. Internally, there may be more changes in its management structure while the CEO will also need to communicate with the clients that there would not be any disruption.
Edited by Kanishk Singh
