Wipro's new CEO sets an ambitious target to double revenues

To double revenues in four years; asks staff to 'think like a start-up' to brainstorm out-of-the-box ideas

As he takes charge as the new chief executive officer (CEO) of Wipro, India's third largest information technology services company, Abidali Neemuchwala has set an ambitious target to double the firm's revenues to $15 billion with an operating margin of 23 per cent over the next four years. Detailing his plans in an internal mail to the employees on Monday, the new CEO has also reposed strong faith on the company's 'rich heritage of technology innovation' and workforce to achieve the dream.

Last month, the Bengaluru-based company had nominated Neemuchwala, who was then its group president and chief operating officer, as the CEO of the company, with effect from February 1. It had also elevated the former CEO T K Kurien as executive vice-chairman.

"I have no doubt that this is a goal grounded in reality," Neemuchwala wrote to employees after assuming charge. "My confidence stems from a multitude of factors - our rich heritage of technology, innovation, desire to excel and the unlimited potential of what we can achieve together."

Wipro's target to touch $15 billion revenue comes at a time when its peer Infosys, under its new CEO Vishal Sikka, has also set an ambitious goal of touching $20 billion in revenue with an operating margin of 30 per cent by 2020.

Neemuchwala said Wipro's leadership team is busy in fleshing out the details of this ambition, which would require detailed plans and discipline to execute.

He said that Wipro had over the past several months simplified its structure to create a more agile organisation. The company has already seen early signs of success as these measures have helped it accelerate its ability to respond to the customers, ensure deeper employee engagement and improve win rates, he said, adding that bringing in the 'start-up culture' within the company would help it in this effort.

"I have no doubt that we must begin to think like a start-up - where there is nothing from the past that is so sacred that it can't be questioned - and create a workforce that is a melting pot of diverse ideas. Plurality of ideas amid commonality of purpose is important," he added.