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Wipro share price declines 2% as CEO, MD resigns

The board of directors has initiated a search to identify the next chief executive officer.

January 31, 2020 / 11:14 AM IST
 
 
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Wipro share price declined 2 percent intraday on January 31 after chief executive officer (CEO) and managing director (MD) of the company resigned.

Abidali Z Neemuchwala, chief executive officer and managing director of the company has decided to step down due to family commitments, company said in a press release.

The board of directors has initiated a search to identify the next chief executive officer.

Abidali Z Neemuchwala will continue to hold the office of CEO & managing director until a successor is appointed for a smooth transition and to ensure that business continues as usual.

The company registered a 3.8 percent sequential decline in consolidated profit at Rs 2,455.9 crore for the quarter ended December 2019.

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However, total revenue from operations grew 2.3 percent sequentially to Rs 15,470.5 crore.

At 09:28 hrs, Wipro was quoting at Rs 236.25, down Rs 4.55, or 1.89 percent on the BSE.
Moneycontrol News
first published: Jan 31, 2020 10:07 am

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