Over the last few years, Wipro has been criticised for its underperformance compared to larger peers and there has been an exodus of senior leadership from the company.
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Justifying his work, Thierry said that Wipro is seen as a “transformation partner” by its clients and is set for future growth. In the past four years, it has also witnessed enrichment in diversity inclusion – the number of women directly reporting to him has shot up from 5% to 35%.
“I’m handing this over to my successor, who will drive excellence on the back of this transformation, and move towards execution all the investments we’ve made,” he went on to say, adding that Pallia, who was one of his “strongest leaders in the executive team” and who knows Wipro better than most others, was the “natural choice” for the top job.
“Together with the leadership team, we initiated an ambitious and radical transformation like no other company in our industry has undertaken in the last two decades. We have made bold changes, and big improvements, since. From defining a new market strategy to resetting the operating model for client centricity and agility; from simplifying processes for faster-decision making to doubling down on delivery and account excellence – Wipro’s position today is one of strength, respect and confidence,” Thierry elaborated in the email.
Talking about the 12 acquisitions, which he said were no mean feat, “two happen to be among the largest ones in Wipro’s history – Capco and Rizing”.
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“…Along with your commitment and efforts, Wipro’s revenues have grown by 35% in the last four years. We’ve generated 25% more profit than in the previous 4 years. Wipro’s stock price has grown 2.5x in value during this time! This you can all be proud of. Now with the foundational elements of the transformation in place, my main goal is complete.”
