Wipro welcomes its new CEO and MD, Srinivas Pallia, on Saturday, 7th April 2024. It was not surprising for the company when its former CEO, Thierry Delaporte, decided to retire before the term. The only matter was when will he take such a step.
It was evident from the past financial results of the tech giant, which showed higher levels of exits, low margins, and unstable revenues. Undoubtedly, many people were anticipating such a step. The new board is now there to handle the crisis. It is a hopeful situation, as well as a litmus test for Rishab Premji. Wipro Board members are expecting a better future for the company in the hands of Pallia.
Revival of the Tasks For Wipro
Wipro, the renowned IT firm, underperformed a lot amidst different acquisitions. Although the investments were high, they needed to show suitable returns. Indeed, the investors were under pressure and doubtful about the leadership of Delaporte.
Saturday brought a new ray of hope for the company when Srinivas Pallia became the new CEO. Suresh Senapaty, a former Wipro Board Member and trusted advisor of Azim Premji, expressed his expectations from Pallia.
The employees and stakeholders have expectations from Rishad Premji, company’s current executive chairman. The new selection will be a litmus test for him. Furthermore, the employees and investors trust his decision to make a second attempt. As most Wipro officials believe, good fortunes are about to come.
Opinions Of Wipro’s Senior Executives
The opinions of most senior executives of Wipro are positive, with Pallia sitting in the MD chair. Moreover, it is evident from the reactions of both present and former officials.
The Quarter 4 figures of the company’s financial statements did not match the expectations of the stakeholders. As a result, immediate change was essential to uplift the position of the firm. In this situation, selecting a new leader on the part of Rishad Premji was a big test. However, everyone is expecting a positive return for this litmus test of the Executive Chairman.
The forecasting of FY 2025 results must be one of the strong reasons to compel the management to take such a decision. This was the statement from one of the former executives said. He also added that it was the necessary to ask Delaporte to resign, keeping the present conditions of the company in view.
Reactions Of Delaporte On Stepping Down
The former CEO did not show any disrespect for the management’s decision. Thierry Delaporte stated that his primary aim was to take Wipro to a profitable level. According to his versions, he did his job diligently, but there were some unexpected turndowns. However, in one of his emails addressing the employees, he showed his confidence in Pallia.
According to the former CEO, the transformation of Wipro is now complete in his hands. He always worked for the betterment of the company under various circumstances. However, it was unfortunate that the IT firm failed to show the desired results. Indeed, his principal goal was to develop the company’s position in the long run. Therefore, the selection of Pallia, succeeding him in the CEO’s chair, is valid. He also added, “Pallia is undoubtedly the best man who will continue to work on growth aspect of Wipro that he started once.”
As per the new MD, the modus operandi is to drive the company to a new height, away from the present situation. He was a former hiker and, hence, knew the importance of tenacity and resilience well. He is hopeful that such conditions will show him the correct path to control the company’s affairs.
The newly established leader is feeling positive and does not bother about social media talkies. Instead, he depends on work-life balance and is ready to reply to his rivals well. This shows his dedication and concern for the IT firm. The rival founder’s remarks will not affect him while he performs his duties as CEO.
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