You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Wipro spurts on appointing Capgemini's Thierry Delaporte as new CEO, MD

Business Finance

Capital Market 

Wipro gained 3.41% to Rs 206.10 after the IT major appointed Capgemini executive Thierry Delaporte as its chief executive officer and managing director.

Delaporte will take over as the chief executive officer and managing director of the company, effective 6 July 2020.

Abidali Neemuchwala will relinquish his position as CEO and MD on 1 June. Neemuchwala left the technology firm after four years due to personal commitments. Rishad Premji will oversee the day to day operations of the company until 5 July.

Further, Wipro announced the appointment of financial services professional Deepak M Satwalekar to its board of directors for five years effective 1 July, subject to the approval of the shareholders. He will serve as an independent director on the board and will bring a wealth of experience to Wipro having spent over four decades in the financial services industry and as an advisor and board member of companies from diverse industries.

Shares of Wipro have gained 14% in last one month as against 1.62% fall in benchmark BSE Sensex.

On a consolidated basis, Wipro's net profit declined 5.29% to Rs 2,326.10 crore on 1.55% increase in revenue to Rs 15,711 crore in Q4 March 2020 over Q3 December 2019.

Wipro is a leading global information technology, consulting and business process services company.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, May 29 2020. 10:43 IST