Wipro’s CEO Abidali Neemuchwala resigned, prompting the Bangalore, India-based IT major to launch a hunt for a new executive.
Neemuchwala’s contract with the IT firm was due to be reviewed in January next year. The precise reason for his resignation is still unclear, although the executive has cited “family commitments.”
In a message to investors, Wipro has stated that its board of management had started searching for an executive to replace Neemuchwala.
“We thank Abid for his leadership and contributions to Wipro. Over the last four years, Abid helped build a strong execution mindset, drove key acquisitions and scaled our digital business globally,” said Rishad Premji, son of the company’s founder Azim Premji.
Neemuchwala was instrumental in turning around the fortunes of TCS’ BPO arm and his working style is often compared to Chandrasekaran, the former CEO of TCS, who is currently the chairman of the Tata Group.
Under his leadership, Wipro’s annual revenue surged to US$8 billion, with its global headcount exceeding 175,000. However, he reportedly struggled to transform Wipro from a traditional IT outsourcing firm into a technology vendor armed with new digital solutions.
His success came in September 2018 when he helped Wipro land an IT services contract worth US$1.5 billion with Alight Solutions. Neemuchwala will remain the CEO until the company appoints his successor.