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Despite Numerous Executive Departures, Wipro's CEO Remains Positive

CIO Insider Team | Monday, 25 September, 2023

Wipro's recent string of high-profile departures has alarmed investors, analysts, and industry watchers alike; the most recent departure was that of CFO Jatin Dalal, who worked for the company for more than 20 years.

Despite this, Wipro CEO Thierry Delaporte maintains that the company hasn't lost a lot of top talent.

He stated that in order to alter an organization, it is crucial to hire new talent and that it is vital to introduce fresh perspectives.

Dalal's resignation was announced by Wipro on September 21. Aparna C. Iyer would take up the position on September 22. Dalal wrote in his letter of resignation to Wipro CEO Thierry Delaporte that he is ‘eager to pursue’ professional objectives outside of the company.

The announcement caused concern among experts and industry observers, many of whom claim that such a move was unexpected. Dalal was a dependable employee at Wipro, according to numerous observers, having worked his way up to the position of CFO.

He was recognized as intelligent and as someone who was willing to answer the most challenging queries from the press and experts. Additionally, he was well-established in the system and enjoyed the respect of promoter Azim Premji.

Despite this, Wipro CEO Thierry Delaporte maintains that the company hasn't lost a lot of top talent.

Regarding Dalal's departure, Delaporte stated that he respected the CFO's decision and that the organization had been preparing Aparna Iyer for the position for the last two years.

Following the announcement of Dalal's departure, Wipro shares had a sharp decrease of 2.44 percent on Friday, ending at 418.50.

Delaporte's defense of the exodus comes despite the analysts' concern over Dalal's departure from Kotak Institutional Equities, who wrote in a note that the loss of key leaders continuing into the fourth year of turnaround will not be viewed favorably by investors.

Recent high-profile departures from Wirpo include those of Dalal, chief operating officer Sanjeev Singh, India business head Satya Easwaran, chief financial officers for Americas One and Two, Kamini Shah and Nithin V. Jaganmohan, vice president Gurvinder Sahni, Middle East MD Mohammed Areff, and Sanjeev Singh.

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