Wipro names former Capgemini COO Thierry Delaporte as new CEO; Neemuchwala to leave on 1 June
Thierry Delaporte, who will replace Abidali Neemuchwala, was most recently the chief operating officer of Capgemini Group.
IT major Wipro Ltd on Friday named Thierry Delaporte as chief executive officer and managing director of the company, effective 6 July, 2020.
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Delaporte, who will replace Abidali Z Neemuchwala, was most recently the chief operating officer of Capgemini Group.
Until recently, Thierry Delaporte was the Chief Operating Officer of Capgemini Group and a member of its Group Executive Board. During his 25-year career with Capgemini, he held several leadership roles including that of Chief Executive Officer of the Global Financial Services Strategic Business Unit, and head of all global service lines. He also oversaw Capgemini’s India operations, and led the group’s transformation agenda, conceptualizing and driving several strategic programs across various business units.
Rishad Premji will oversee the day to day operations of the company until 5 July and Delaporte join Wipro on 6 July.
"l am delighted to welcome Thierry as CEO and Managing Director of the company. Thierry has an exceptional leadership track record, strong international exposure, deep strategic expertise, a unique ability to forge long-standing client relationships, and proven experience of driving transformation and managing technological disruption. We believe that Thierry is the right person to lead Wipro in its next phase of growth," said Rishad Premji, Chairman, Wipro Limited.
Commenting on his appointment, Thierry Delaporte said, “I am deeply honored to be invited to lead Wipro, an extraordinary company and an exemplary corporate citizen with a deep technology heritage built on a strong foundation of values. I look forward to working closely with Rishad, the Board, senior leadership and the hugely talented employees of Wipro to turn a new chapter of growth and build a better tomorrow for all our stakeholders.”
He will be based in Paris and report to Chairman Rishad Premji.
Neemuchwala will relinquish his position as CEO and MD on 1 June.
In January, Wipro had said Neemuchwala has decided to step down due to family commitments and the company's board had started scouting for his successor.
The 52-year-old Neemuchwala's term as CEO was to end in 2021.
Premji said, “I want to thank Abid for all that he has done for Wipro and for making this transition as smooth and seamless as possible despite his personal commitments.”
Rishad Premji will oversee the day to day operations of the company until 5 July.
Neemuchwala had joined Wipro in 2015 as Group President and Chief Operating Officer after a 23-year-long stint at Tata Consultancy Services.
Deepak M Satwalekar appointed as independent director
Wipro also announced the appointment of Deepak M Satwalekar, a financial services professional, to its Board of Directors for five years effective 1 July, 2020, subject to the approval of the shareholders.
Satwalekar will serve as an Independent Director on the Board. He has been the MD of HDFC Ltd and subsequently the MD and CEO of HDFC Standard Life Insurance. He has also been a consultant to the World Bank, the Asian Development Bank, the United States Agency for International Development (USAID) and the United Nations Human Settlements Programme (UN-HABITAT).
Welcoming him to the Board, Premji, Chairman, said, “I am truly excited to have Deepak join our Board. With his deep repository of knowledge spanning across the financial services sector, sharp business acumen, understanding of technology and as a strong votary of the highest standards of corporate governance, his invaluable experience will immensely benefit Wipro.”
Commenting on his appointment, Satwalekar said, “I am delighted and honored to be invited to join the Board of Wipro, an organization which is globally respected both for its technology leadership and its steadfast commitment to values. I look forward to contributing to the company’s growth charter."
IT czar Azim Premji has said his son Rishad will never be the Chief Executive of his company Wipro, but will represent promoter ownership on the company's board.
Rishad Premji has been a member of Nasscom's Executive Council and was the vice chairman for 2017-18, Nasscom said in a statement
Wipro Chairman Azim Premji's salary drops 63% to $1,21,853 in FY17, CEO Neemuchwala's up 16% to $2.09 mn
The high compensation for leaders in the tech sector also come under spotlight after Infosys founder N R Narayana Murthy had questioned pay hikes for senior executives at the Bengaluru-based firm.