Wipro Restructures Business Into Four Verticals To Align With Clients’ Needs
This is the second business restructuring that Wipro CEO Thierry Delaporte has effected in less than three years at the helm.
Wipro Ltd. has restructured its business into four “global business lines” to align better with clients’ evolving needs in an increasingly online world.
These four “global business lines” are organised around cloud, enterprise technology and business transformation, engineering and consulting, according to an exchange filing on Monday.
Wipro FullStride Cloud will bring together the firm's entire suite of cloud capabilities under a fully integrated, full-stack offering. Jo Debecker, who currently leads Wipro’s cloud vertical, will lead this business, and assume the title of global head of Wipro FullStride.
Wipro Enterprise Futuring will offer clients distinctly forward-looking solutions for large-scale enterprise transformation. Nagendra Bandaru, currently the head of Wipro’s iCORE business, will become the global head of Wipro Enterprise Futuring.
Wipro Engineering Edge, launched in 2022 to advance the firm’s position as a global engineering services leader, will become a standalone business. Harmeet Chauhan, who currently leads Wipro Engineering, will become the Global Head of Wipro Engineering Edge.
Wipro Consulting will align Capco, Designit, and Wipro’s domain and consulting business under one banner. Capco CEO Lance Levy and Philippe Dintrans, global head of Wipro Domain and Consulting, will continue to lead their businesses under the leadership of CEO Thierry Delaporte. Designit CEO Nicolas Parmaksizian will join them to embed experience innovation capabilities into a broader universe of consulting engagements.
The changes will come into effect from April 1, 2023.
To be sure, this is the second restructuring exercise that Delaporte has effected in less than three years at the helm of affairs at Wipro. The IT firm had replaced its seven strategic business units, service lines and nine geographies with four strategic market units and two global business lines. These changes were effective from Jan. 1, 2021.
Since then, Wipro claims to have recorded 45% revenue growth to cross the annual run rate of $11 billion (about Rs 90,000 crore). In the three months ended Dec. 31, 2022, the IT firm’s net profit rose 15.7% over the previous quarter to Rs 3,065 crore, on the back of revenue that increased 3.08% sequentially to Rs 23,230 crore.
“Our transformation journey over the past three years has yielded outstanding growth for our business,” Delaporte, who took over as Wipro's chief executive officer in June 2020, said in the exchange filing. “So much that we have outgrown the two-business line model that we had set at the beginning of our journey.”
“We are now doubling down on our strategic bets to take our growth to its next phase,” he said.
On Monday, shares of Wipro fell 0.76% to Rs 390.30 apiece on the BSE even as the benchmark Sensex ended the day 0.30% lower at 59,288.35 points.