Vivek Paul logs out of Wipro after six years

A L Rao named COO; new lead trio may be interim arrangement.

Vivek Paul has quit as vice-chairman of Wipro Limited and chief executive of its flagship business Wipro Technologies, India's third largest IT services exporter.

After six years at Wipro, Paul has joined as a partner, Texas Pacific Pacific Group, a private investment firm into hi-tech and life sciences.

Paul was evasive on CNBC in his response to the question whether Wipro's succession plan had anything to do with his departure, citing confidentiality. He said this was the "right step" for him and the company and it "has to go on to the next stage."

Wipro has nominated a new leadership trio for Wipro Technologies from within, reporting to Azim Premji, chairman of the $1.8 billion company. A Lakshman Rao, president, telecom and internetworking, has been appointed chief operating officer.

Sudip Banerjee and Girish Paranjpe will continue to lead as presidents, enterprise solutions and banking and financial services, respectively. Sources close to Wipro told Business Standard that this was an "interim arrangement."

"Vivek's contribution to the success of our Global IT business has been significant, reflected in Wipro's lead position today in many areas," said Azim Premji.

Pratik Kumar, corporate vice-president, human resources, said Wipro was not looking for any individual successor to Paul.

"What we have announced is a set of chief executives of key individual verticals. This is a permanent structure and it is what we will work with."