Wipro Names Former TCS Executive Abidali Neemuchwala as New CEO

Wipro has reshuffled its management team, naming former TCS stalwart Abidali Neemuchwala CEO and shifting incumbent chief executive TK Kurien to the position of executive vice chairman.
Both appointments will be effective on February 1, according to a statement from the Bangalore-based IT outsourcing firm. While Kurien’s new appointment is for a one-year period, Neemuchwala’s new role is for five years.
Kurien has been at the helm for more than five years, but the board was never fully satisfied with the company’s performance. Wipro has been underperforming compared to its larger rivals TCS and Infosys.
Wipro is reporting revenue growth of between 6.4% and 7.0%, while even smaller IT firms, like Tech Mahindra, are reporting more than 18% growth. Yet, Wipro remains India’s third-largest IT services company with more than 160,000 employees across the globe.
The company’s billionaire founder Azim Premji still chairs the board, while his son, Rishad, is presently the chief strategy officer and member of the board. “Over the past five years, Wipro has been transforming into a next generation technology and consulting company with defining differentiators in the market place,” said Azim Premji in the company statement. “TK [Kurien] will enable Abid by leveraging his deep relationships with customers and chart out a new technology roadmap for Wipro.”
The 48-year-old Neemuchwala just joined Wipro in April 2015 as group president and COO. His reputation hinges on his 23 years service at the country’s largest IT firm TCS. But now the new CEO faces the difficult task of preparing the company to gain on rivals while at the same time navigate the changing landscape of an Indian IT outsourcing industry hit hard by a variety of issues, including new U.S. visa laws, rising labor costs, and the growing popularity of cloud and automation technology.