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.
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.