Bengaluru-based IT major Wipro held its 77th annual general meeting on July 12. The shareholders meeting was held virtually. It was addressed by Wipro executive chairman Rishad Premji and chief executive officer Theirry Delaporte. Here are key things that Premji told shareholders
CEO Delaporte and his leadership team have the full support of the board<\/span>
\u201cI want to re-emphasise, Thierry has my full support and the full support of the board as he takes the company forward,\u201d said Premji. Delaporte, who was appointed to the top role in July 2020, has two years remaining in the current term. The 56-year-old Capgemini veteran has led an aggressive acquisition strategy that has seen Wipro acquire a dozen companies, shelling out about over $2.3 billion, in the last three years.
Macro environment remained challenging<\/span>
\u201cThe Ukraine war entered its second year and global interest rates remain high. These factors affected clients\u2019 spending, especially in the second half of the year (FY23) \u2026 but our portfolio of solutions has helped us react quickly and pertinently to these developments,\u201d he said. The company said banking, financial services and high-tech verticals have seen clients move to cost-optimisation projects over discretionary projects in the second half of FY23.
CEO operating out of Paris is \u201cintentional and calculated\u201d<\/span>
Premji said that Delaporte operating out of Paris \u2014 as opposed to the US as planned earlier \u2014 is a \u201cintentional and calculated\u201d call of the management that results in better access to customers present across from East and West of Europe.<\/div>\n