Business
Wipro’s CEO Delaporte quits, company veteran Srini Pallia to succeed – Times of India
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BENGALURU: The disquiet brewing at Wipro with CEO Thierry Delaporte looks to have forced the Frenchman’s hand. The company announced on Saturday that Delaporte has resigned. This comes more than a year ahead of his contracted five-year tenure that was to end in July 2025.
In his place, Wipro has appointed a 32-year company veteran, Srini Pallia. Pallia will take over as the CEO and MD effective immediately.This marks a return to an internal candidate for the top job, after having two external ones prior to this.
“Thierry will continue until the end of May, working closely with Srini and me to ensure a smooth transition,” Wipro chairman Rishad Premji said in a filing with the stock exchange.
“Srini 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. Srini has been an integral part of this journey. 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 will be based in New Jersey and report to Rishad Premji.
TOI was the first to report in January that Wipro is grooming at least three internal leaders including Pallia for the top role.
Pallia joined Wipro in 1992. Since then, he has held several major roles, including as president of Wipro’s consumer business unit and as global head of business applications services. He was most recently CEO of the strategic market unit called Americas 1.
Wipro’s statement said that Pallia brings to the CEO role extensive institutional and industry knowledge, as well as a strong track record of leadership through some of the most significant technological shifts the industry has seen. Pallia, sources said, played a particularly crucial role in stabilising things during the pandemic. As the CEO of Americas 1, he was overseeing key accounts like T-Mobile, Ford, US Foods, AT&T, Citibank, Levi’s, and Dell. Pallia is also known to have overseen accounts like Estee Lauder and Tapestry.
Phil Fersht, CEO of HfS Research, said, “Delaporte had lost the confidence of the Board and was not leading the firm in the right direction. The morale at Wipro was at an all-time low. While they looked at outside candidates, they needed someone from the Wipro old school to reenergise the troops after a Frenchman who rarely left Paris when they needed leadership. Thierry was good in theory but not as palatable as Pallia,” he said.
Delaporte tried to simplify the company structure by shrinking the P&Ls reporting to him from 27 to 4 when he took over. The restructuring led to some 75 senior VPs and 300 general managers exiting the firm in Delaporte’s first year.
Delaporte also made two big acquisitions, those of Capco and Rizing, but neither are seen to have had yet the impact that Wipro hoped they would. “My mission is to rebuild Wipro for the next 5-10 years,” Delaporte told TOI after the September quarter results. But with a turnaround nowhere in sight, it was probably tough to convince Premji and the Board to offer him a second term.
In his place, Wipro has appointed a 32-year company veteran, Srini Pallia. Pallia will take over as the CEO and MD effective immediately.This marks a return to an internal candidate for the top job, after having two external ones prior to this.
“Thierry will continue until the end of May, working closely with Srini and me to ensure a smooth transition,” Wipro chairman Rishad Premji said in a filing with the stock exchange.
“Srini 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. Srini has been an integral part of this journey. 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 will be based in New Jersey and report to Rishad Premji.
TOI was the first to report in January that Wipro is grooming at least three internal leaders including Pallia for the top role.
Pallia joined Wipro in 1992. Since then, he has held several major roles, including as president of Wipro’s consumer business unit and as global head of business applications services. He was most recently CEO of the strategic market unit called Americas 1.
Wipro’s statement said that Pallia brings to the CEO role extensive institutional and industry knowledge, as well as a strong track record of leadership through some of the most significant technological shifts the industry has seen. Pallia, sources said, played a particularly crucial role in stabilising things during the pandemic. As the CEO of Americas 1, he was overseeing key accounts like T-Mobile, Ford, US Foods, AT&T, Citibank, Levi’s, and Dell. Pallia is also known to have overseen accounts like Estee Lauder and Tapestry.
Phil Fersht, CEO of HfS Research, said, “Delaporte had lost the confidence of the Board and was not leading the firm in the right direction. The morale at Wipro was at an all-time low. While they looked at outside candidates, they needed someone from the Wipro old school to reenergise the troops after a Frenchman who rarely left Paris when they needed leadership. Thierry was good in theory but not as palatable as Pallia,” he said.
Delaporte tried to simplify the company structure by shrinking the P&Ls reporting to him from 27 to 4 when he took over. The restructuring led to some 75 senior VPs and 300 general managers exiting the firm in Delaporte’s first year.
Delaporte also made two big acquisitions, those of Capco and Rizing, but neither are seen to have had yet the impact that Wipro hoped they would. “My mission is to rebuild Wipro for the next 5-10 years,” Delaporte told TOI after the September quarter results. But with a turnaround nowhere in sight, it was probably tough to convince Premji and the Board to offer him a second term.
