CEO Srinivas Pallia sold all his Wipro shares before taking charge
Wipro, Srinivas Pallia, who has been with the company for over three decades, sold all his shares worth Rs 5 crore in it in the public market.
Pallia disposed of his 1,00,000 Wipro shares through “market sale” on February 14 this year and the transaction was reported to the exchange on February 15. The total value of the transaction was Rs 5,05,12,640. As per information on the BSE, securities currently held by Pallia post transaction amounted to zero.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitWipro did not reply to queries by ET, citing a silent period ahead of its quarterly and annual results announcement on Friday.
On April 6, Wipro, India's fourth largest software services firm, announced the sudden resignation of former CEO Thierry Delaporte 15 months earlier than the end of his five-year tenure. Pallia was elevated to the top job with immediate effect.
Wipro was under the scanner for its tepid revenue performance which had made it a laggard in FY23-24 compared to most of its large-cap Indian peers.
Critics also raised concerns of senior leadership attrition over the past two years. Wipro bled talent and saw about one and a half dozen exits over the last four years as Delaporte went about his “transformation agenda” at the $11 billion
