Srinivas Palliya, the new Chief Executive Officer (CEO) and Managing Director of domestic IT company Wipro, will have to face the difficult challenge of rejuvenating the company as well as retaining people holding key positions and restoring morale. According to Bhasha news, industry experts believe that Wipro may face difficult business conditions in the coming times amid weak global signals, hence maintaining the confidence of shareholders will also be very important for Palliya.
Has taken over the post after Thierry Delaporte
Let us tell you, Palliya has taken over the leadership of the domestic IT company after the resignation of Thierry Delaporte, who had been serving as CEO for five years. He has been associated with Wipro for a long time and is well-versed with its internal operations and business environment. Phil Fursht, CEO of HFS Research, said in a statement that morale at Wipro has been low over the past year and this change in leadership was expected six months ago.
The challenge of overcoming the slowdown in growth
The new CEO will have to quickly implement his plans, give a fresh direction to the company, and convince key stakeholders that he is the right choice to lead. Girish Pai, consultant and research analyst at Nirmal Bang Institutional Equities, said that to overcome the slowdown in growth caused by the departure of senior executives, Palliya will have to lead from the front by strengthening the top level. Pai said Palliya, who has been appointed CEO and managing director for a five-year term, may have to focus on quick and agile turnaround in a weak business environment globally.
Many top executives left the company
IT industry observers believe that during Delaporte’s tenure, many top Wipro executives left the company, which affected business activities. These also include the name of the company’s Chief Finance Officer (CFO) Jatin Dalal, who left the company after a tenure of 21 years. Analysts say that Wipro’s performance in terms of revenue has been below the average performance of the IT sector in the last several quarters, hence all eyes will be on the new CEO and the major changes made by him.
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