The Hindu : Business : Vivek Paul quits Wipro; Premji rejigs team

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Friday, Jul 01, 2005

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Business

Vivek Paul quits Wipro; Premji rejigs team

BANGALORE: Vivek Paul, the U.S.-based Vice Chairman of Wipro, credited with leading the global IT services business of Wipro from $150 million to $1.4 billion, has quit, the company announced on Thursday.

Mr. Paul, one of the highest paid IT executives in the country with an annual salary of Rs. 7.15 crore in 2004-05, joined Wipro in 1999 during the dotcom boom.

Mr. Paul now joins as a partner at the Texas Pacific group, a U.S.-based private investment firm with investments in technology and life sciences space.

"Mr. Vivek's contribution to the success of our Global IT business has been significant, reflected in Wipro's lead position today in many areas — R & D Service, IT Outsourcing and BPO,'' the Wipro Chairman, Mr. Premji, said in a statement.

"The past six years have been deeply fulfilling for me. Wipro today leads in the transformation taking place in the technology and business Services space, and is therefore ideally positioned to enhance customer value,'' Mr. Paul said.

Mr. Premji, who owns 84.4 per cent stake in Wipro, has rejiged the management team. Lakshman Rao has been appointed the COO. Sudip Banerjee, President, will lead the enterprise business, and Girish Paranjpe, President, will lead the banking and financial services business.

Suresh Vaswani and T. K. Kurien will continue in their present positions. — PTI

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