Wipro shares tank after CEO Thierry’s exit

NEW DELHI: Shares of Wipro on Monday declined over 1 per cent after the IT major announced the resignation of Thierry Delaporte as CEO and named Srinivas Pallia as the new chief executive officer of the company, effective immediately.

The announcement comes days before the Bengaluru-headquartered company is scheduled to announce its Q4 and full-year earnings for 2023-24 on April 19.

Wipro has been trailing its peers on the performance front with a subdued report card and weak guidance and saw a spate of senior-level departures including CFO Jatin Dalal and chief growth officer Stephanie Trautman last year.

According to a Wipro release, Pallia brings to the CEO role extensive institutional and industry knowledge, as well as a strong track record of leadership through some of the most significant technological shifts the industry has seen.