Wipro CFO Jatin Dalal Resigns, Senior VP Aparna Iyer To Replace Him
Jatin Dalal's resignation as CFO, and Aparna Iyer's appointment at the post, underscores the churn Wipro has undergone of late.
Wipro Ltd. has appointed company veteran Aparna Iyer as its new chief financial officer with immediate effect, replacing Jatin Dalal who has resigned from the post.
“The board of directors has noted the resignation of Jatin Pravinchandra Dalal and he will be relieved from the services of the company with effect from Nov. 30,” according to an exchange filing on Thursday. “At their meeting held on Sept. 21, the board of directors has approved the appointment of Aparna Iyer as the chief financial officer of the company with effect from Sept. 22.”
A Wipro employee for more than 20 years, Iyer at present is senior vice president (finance) at India’s fourth largest IT services company. She was appointed as CFO of Wipro’s FullStride Cloud Global Business Line, with the intent of deepening her expertise as future CFO.
Dalal, meanwhile, has left the company to pursue professional endeavours outside of the firm where he had been for more than two decades.
“At this juncture of my career, I am eager to pursue my professional goals outside the organization. Accordingly, I am tendering my resignation. As per our discussion, my last day of employment will be Nov. 30,” he said, in a brief resignation letter addressed to CEO Thierry Delaporte.
To be sure, the resignation and subsequent appointment underscores the churn Wipro’s senior management has undergone since Delaporte took the helm in 2020, amid two companywide restructurings.
While Delaporte said that it’s only made the company more nimble, and that his business leaders are “absolutely engaged with the success of this new construct”—former Wipro senior executives, who spoke on condition of anonymity—claimed the turnaround by way of tough decisions has the senior leadership “spooked”, so much so they expect the company performance to be similar to the previous quarter.
In the quarter ended June, revenue of India’s fourth largest outsourcer declined 1.54% sequentially to Rs 22,831 crore, on the back of operational profitability that shrunk 63 basis points to 15.14%. The IT company now expects its revenue to grow at -2.0% to 1% sequentially in the July-September quarter.
On Thursday, Wipro shares fell 0.28% to Rs 428.60 apiece on the BSE even as the benchmark Sensex ended the day 0.85% lower at 66,230.24 points.
