Indian IT – The News Desk

Who is Srini Pallia, Wipro’s new CEO & MD? All you want to know about him

6Apr

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Business

Who is Srini Pallia, Wipro’s new CEO & MD? All you want to know about him

Wipro has appointed Srini Pallia as its new Chief Executive Officer and Managing Director from immediate effect. In a company statement, IT giant Wipro said the current CEO Thierry Delaporte will be stepping down from the position, but will continue till May-end, working closely with Srini and Rishad Premji to ensure a smooth transition.Commenting on his appointment, Srini Pallia said, “Wipro is one of those rare companies that combines profit with purpose, and I am truly honored to have been chosen to lead this iconic institution.”So who is Wipro’s new CEO Srini Pallia?Srini, a veteran of Wipro for over three decades, has recently served as CEO for Americas 1, the company's largest and fastest-growing strategic market.According to Wipro, during his tenure, he led various industry sectors...

IT services industry still top CEO paymaster; 7 out of 10 highest earning CEOs in India from tech sector

Despite facing challenges in the past two years, the IT services industry remains the highest paying sector for CEOs in India, according to data from BSE 500 companies for FY23. Out of the top 10 highest earning CEOs in the country, seven were from the IT services sector, with salaries ranging from Rs 29 crore to Rs 82 crore, according to an ET analysis.The highest-paid CEOs and MDs in the IT services industry include Thierry Delaporte of Wipro, Sandeep Kalra of Persistent Systems, Nitin Rakesh of Mphasis, Salil Parekh of Infosys, Sudhir Singh of Coforge, CP Gurnani of Tech Mahindra (outgoing CEO), and Rajesh Gopinathan (former CEO) of TCS. They are joined by Abhay Bhutada of Poonawalla Fincorp, Satish Pai of Hindalco, and SN Subrahmanyan of L&T.The data encompasses salary, bonus, all...

Indian IT gears up for muted Q2 earnings

BENGALURU: Accenture's modest guidance of 2-5% for the 2024 fiscal reflects continued weakness in discretionary spending that weighs on the earnings season for Indian IT companies which begins next week.Despite the marginal impact from forex fluctuations, the downbeat forecast for the September quarter would barely lift the spirits of Indian IT which, traditionally, is a strong wicket to bat on. The dominant theme in the Indian IT sector hinges on cost-takeout projects to fund enterprises' transformation programmes. "In Q2 FY24 (September quarter), the IT sector is expected to deliver a soft quarter, although Q2 has historically been a seasonally strong quarter. Growth divergence is expected between companies, with tier-1 IT sequential growth ranging from -1.4% to 2.2% and mid-tier IT seq...