Wipro CEO Thierry Delaporte quits, to be replaced by Americas chief Srini Pallia
Srinivas Pallia, who was the CEO for the company's Americas 1 area, will take over as the new CEO and Managing Director from April 7, the company added.
Srinivas Pallia, who was the CEO for the company's Americas 1 area, will take over as the new CEO and Managing Director from April 7, the company added.
Fulcrum Digital selects Sathish Raghunathan as CFO, drawing on his diverse financial experience to lead the company's strategic financial operations.
The situation is worse in the case of the Indian IT industry, with none of the 54 companies in the NSE-1000 index having a female CEO. Market leader TCS, which employs more than 200,000 women (constituting over a third of its workforce), has no women in its key managerial personnel (KMPs), as per its annual report. In fact, among the top 5 IT companies, only Wipro has a woman in a KMP role - it appointed Aparna Iyer as CFO in September last year.
Compared with a year earlier, the staff count at these companies - Tata Consultancy Services, Infosys, Wipro, HCLTech, LTI Mindtree, L&T Technology Services, Tech Mahindra and Cognizant's India business - were down by 75,000, the sharpest fall in at least six years.
The uptick in IT hiring comes after the macroeconomic slump in 2023 led to a massive headcount correction last year. However, experts caution that current requirements are only filling vacant roles not replaced over the past few quarters and that the numbers are still small.
Large Indian companies and multinationals are actively seeking senior women professionals for top management roles, driven by a focus on ESG standards and the desire to improve diversity at the CXO level. Investors are also increasingly interested in companies that prioritize gender diversity. Several executive search firms have reported mandates to exclusively look for female candidates for CFO, COO, CHRO, CMO, CTO, CLO, and CEO positions.
Tata Consultancy Services (TCS) and Infosys will declare their Q3FY24 report card on January 11 (Thursday) and Wipro and HCL Technologies on January 12 (Friday).
On January 3, Wipro and Dalal were directed to resolve the case under section 8 of the Arbitration Conciliation Act, 1996. The official order will be uploaded in the next week.
The third-quarter results season will begin with TCS and Infosys announcing their results on January 11, followed by HCLTech and Wipro on January 12. The focus this quarter will be the commentary on the demand environment and 2024 budgets.
Tech firms such as Accenture, IBM and Genpact have lost talent, said the people, along with Infosys, Wipro, TCS, HCL Tech and Tech Mahindra, with some of their senior executives moving either to consulting roles as Partners or senior level implementation and operations roles at the top four professional services firms.
Wipro Consumer Care and Lighting is expanding its direct-to-consumer (D2C) business with its global brand Bio-essence, targeting the premium segment in India. The company plans to launch ethnic ready-to-cook breakfast and South Indian snacks, targeting the premium segment in areas like facial care, cleaners, moisturizers, and toners.