Wipro tasks insider to revive fortunes in its No. 2 market

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Subscribe to enjoy similar stories. Wipro Ltd has named a new Europe head as the software services provider looks to revive business in this second biggest market. On Monday evening, India’s fourth largest software services company appointed Omkar Nisal as the chief executive of its Europe business.

Nisal, who is based out of London, will take over the role immediately, reporting to chief executive and managing director Srinivas Pallia. He will also be part of the company’s executive board. Nisal succeeds Pierre Bruno, who headed the company’s Europe market since February 2021.

While the company stated that Bruno stepped down, Mint could not independently ascertain if Bruno had left the company or whether he had just stepped down from his role. The Bengaluru-headquartered company’s Europe business has underperformed. Since Pierre Bruno took over as Wipro’s Europe head in February 2021, the company generated 28.4%, or $631 million, of its $2.22 billion January-March 2021 revenue from Europe.

At the end of the three months through September, Wipro's Europe business accounted for 27.9%, or $742 million, of the company’s $2.66 billion quarterly revenue. The Europe business clocked a compounded quarterly dollar revenue growth of 1.16% between 31 March 2021 and 30 September 2024, according to a Mint review. During this time, Wipro’s overall business managed a quarterly compounded revenue growth of 1.3%.

The slowdown in Europe, however, was not limited to Wipro. Tata Consultancy Services Ltd and HCL Technologies Ltd clocked an overall compounded quarterly growth of 1.78% and 1.77%, respectively. Meanwhile, their Europe businesses managed growth rates of 1.51% and 1.58%, respectively.