Sudip Banerjee leaves Wipro to become CEO of L&T Infotech Ltd
SOURCE: LiveMint
DATE: August 29th, 2008
Mohit Soapbox:
The flow of senior leadership from Wipro continues. Wipro had rejigged their leadership and put together two CEO as leaders. A number of senior folks were not happy with the move and though Wipro (Mr Premji) tried hard to hang on to those, the trickle continues. Wipro has had a number of senior leaders who have been with the organization for a number of years. Wipro was also one of the few companies which had negative employee addition this past quarter. Their competitors have had a slowdown in hiring but not a negative hiring. The new CEO’s of Wipro are trying to delink the headcount growth with revenue growth ( which is aspirational and does make sense but we will have to wait and see how well does Wipro do it).
Some other Wipro management shuffle in news:
Zscaler Names Former Wipro CTO as Vice President, India Operations
Wipro gears up to take on Infy and TCS – Broadening its consulting spectrum
Wipro reshuffles management again
Rumours of top-level exits hit Wipro stock
Sudip Banerjee, director on the advisory board of Azim Premji Investments, has quit the firm and will become the CEO of L&T Infotech Ltd, the IT arm of India’s largest engineering firm Larson and Toubro Ltd, a person familiar with the development said.
Banerjee had joined Azim Premji Investments, the private investment arm of Azim Premji, chairman of Wipro Ltd, in April. API, with a corpus of over $ 1 billion, has invested in over 40 firms.
Banerjee did not deny or confirm the move. “I am on vacation now, call me next week,” he said.
L&T Infotech spokesman Anand Aashay could not confirm the development immediately.
Banerjee, who joined Wipro in 1983, was the president of enterprise solutions at Wipro Technologies, the global IT services arm of the firm.
In an April restructuring, Suresh Vaswani, who headed the India and West Asia IT arm of Wipro, and Girish Paranjpe, president of Wipro Technologies Financial Solutions were elevated as co-chief executives.
This led to the exit of another key executive, P R Chandrasekar, who headed the American operations of Wipro till then. Chandrasekar became the CEO of Hexaware Technologies Ltd.
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