Wipro's chief executive officer (CEO) Srinivas Pallia, on April 19, outlined five key focus areas to turn around the company in the days to come.
This was in response to how the new CEO plans to take charge and drive growth, at a time when not just the market demand is tepid but Wipro's inherent challenges have led to the consistent dwindling of its market share.
Firstly, the company would accelerate large deal momentum by working closely with clients and partners, said Pallia. Second, Wipro will strengthen relationships with its clients and partners and further invest in accounts that have the potential to grow into large accounts.
Thirdly, Pallia said he will focus on industry-specific offerings and business solutions, mainly on consulting businesses, which can be infused with artificial intelligence (AI). Fourthly, Wipro will continue to build AI-ready talent at scale. This workforce will be trained to deliver industry-specific business solutions.
And finally, the Bengaluru-based company will continue to simplify its operating model and focus on execution.
This was Pallia's first address to the media after taking charge of the company earlier this month.
“What's important is how we build on these five priorities as are necessary to accommodate technological shifts and of course market condition,” Pallia said.
He was appointed the CEO and MD on April 6 following the surprise resignation of Thierry Delaporte, who quit the position a year ahead of the end of his term. Delaporte was appointed in May 2020 for a period of five years.
New Jersey-based Pallia, who has spent 32 years at Wipro, earlier led Americas 1 and spent a significant part of his career in sales.
He was asked if there would be a different approach than what his predecessor had adopted, he said the company would call out present and future large accounts and be more proactive in pursuing them.
Asked when would Wipro see growth getting back on track, Pallia said if the company executes its priorities with speed, it could be much ahead of what it is planning currently. "But I can't give you the forecast of when the growth will come," Pallia said.
Also read: Thierry Delaported: A litmus test for Wipro and Rishad Premji
Wipro’s founder chairman Azim Premji, who holds a 73 percent stake in the company, privately expressed dissatisfaction over Delaporte’s performance, sources had told Moneycontrol.
Also read: Who is Srinivas Pallia, the new CEO and MD of Wipro? Here is all you need to know
Apart from flagging performance and senior-level churn, the high-cost structure, which came with a series of acquisitions and expat hires, was also a source of concern, these people said.
When asked on multiple senior-level exits in the past several quarters, Pallia said the company wants to place the "right set of people" to address the right client in the "right set of industry."
"We will constantly continue to make sure that we have the right people, within or from outside. So every company in every industry does that, so that's a very natural progression," Pallia said.
Also read: Srinivas Pallia’s ascent to Wipro CEO will ensure smooth transition, say industry experts
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