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Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to $6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year.
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Delaporte had joined Wipro on July 6, 2020, when the market capitalisation was around Rs 117,500 crore. It ended at Rs 2.53 lakh crore at the end of Friday's session. After the rejig at the top management, the stock fell up to 1% at Rs 478.40 on BSE on Monday.
Investors will await clarity on any strategic or organisational changes and capital allocation from new CEO and MD Srini Pallia.
Wipro: Nomura India said investors will play a close attention to the new CEO’s strategy, which may come in next 1-2 quarters. It feels that it is unlikely to be revealed during the upcoming March quarter results conference call on April 19.