Wipro's new CEO pledges to lead company into next phase of growth

I look forward to working with all our 240,000 Wiproites around the globe and taking this iconic company to its next phase of growth - Srinivas Pallia, CEO, Wipro

Wipro's new CEO Srinivas Pallia said he is energised by possibilities before the company and the industry, in a new era fuelled by rapid technological progress.

Wipro's top boss -- who took over the baton from Thierry Delaporte at the $11 billion IT services firm on Saturday -- penned a post on LinkedIn to say he looks forward to working with 240,000 "Wiproites" and taking the "iconic" company to the next phase of growth.

"There's a lot of work still to be done ahead of us," Pallia wrote in the recent post. Pallia also reached out to employees through an email where he talked about his journey of continuous discovery, growth, and learning at Wipro moulding and shaping him into the leader he is today, according to sources.

In the LinkedIn post, Pallia highlighted Wipro's remarkable resilience and adaptability, and applauded commitment of employees to the company's collective success.

"As we enter a new era fuelled by rapid technological progress, I am energised by the possibilities ahead for our company and our industry. I look forward to working with all our 240,000 Wiproites around the globe and taking this iconic company to its next phase of growth," he said.

Pallia said over the past four years, he worked closely with Delaporte and the entire leadership team on an ambitious transformation journey "which has allowed us to optimise our structure, enhance our leadership, and improve our overall efficiency".

Pallia said he is excited to build on the strong foundation and lead Wipro on its next growth trajectory. Delaporte too took to LinkedIn to say he is proud of Wipro's achievements over the last four years, and how, during this period, the earnings, stock value and market-capitalization had grown. "...growing revenues by 35 per cent. We've generated 25 per cent more profit in the last four years than in the previous 4-year period, and the value of our stock and market-capitalisation has grown by 2.5x since 2020," Delaporte wrote.

Wipro's incredible journey is about so much more than numbers, however, he mentioned. "I came in to fundamentally transform and modernise Wipro for the future. It has been a priority to perform while transforming; to introduce client-centric guiding principles of agility, excellence, and investments in new technologies and systems," he said.

Delaporte said it has been a valuable experience to hear positive feedback from clients about the "rejuvenated Wipro" and see today's Wipro as bold, ambitious, more efficient and focused, more diverse and inventive, and "helmed by a handpicked team of powerful leaders".

Delaporte said he is excited about his next move and promised to share it "when the time is right". "I wish Wipro all the very best as it strides forth to conquer new goals. We have travelled a long journey, but the time has come for me to move on," Delaporte signed off.

Last week, the Bengaluru-headquartered IT major announced the resignation of Thierry Delaporte as CEO and named Srinivas Pallia as the new Chief Executive Officer, effective immediately. The announcement coming just days before the company's March quarter and full-year 2023-24 earnings (scheduled on April 19), surprised many with its suddenness.

Analysts were quick to point towards Wipro's subdued report card and weak guidance that lagged peers as also the high-profile departures at senior level (including CFO Jatin Dalal and chief growth officer Stephanie Trautman last year) as reasons behind the abrupt change of guard.