Delaporte, who joined Capgemini in 1995, through its acquisition of Sogeti, started with auditing. Soon, he led the finance operations for the company across regions outside of Europe. He moved to sales and later led Capgemini’s Global Financial Services Strategic Business Unit before moving on to head the company’s Latin American operations.
After a firm opening, scrip of the IT services major further rose 3.73 per cent to Rs 206.75 on BSE.It advanced 3.73 per cent to Rs 206.80 on NSE.
Wipro has named former Capgemini chief operating officer Thierry Delaporte as its new Chief Executive Officer and Managing Director from July 6, replacing Abidali Neemuchwala who will leave the company on June 1.Wipro appoints former Capgemini executive Thierry Delaporte as CEO
Thierry Delaporte, who will take over as CEO and MD on July 6 replacing incumbent Abidali Neemuchwala, is chairman Rishad Premji’s choice to steer Wipro from a decade-long streak of below-par growth that has lagged peers. Rishad took over as Chairman of Wipro from his father Azim Premji last July.
In a notice for its 74th annual general meeting (AGM), Wipro said it will seek shareholders' nod for appointment of Delaporte as the CEO and managing director.The AGM will be held on July 13 through video-conferencing.
Wipro’s board has taken a step in the right direction. Now, besides the skills and effectiveness of the incoming CEO, the freedom given to him to execute his strategy would determine how successful the change of guard at the top turns out to be for the company and its shareholders.
Anirban Bose succeeds Thierry Delaporte who has become the group’s chief operating officer and is considered one of the successors to chairman Paul Hermelin.
Given strong credentials of the new CEO, Wipro has all key cogs and elements for a turnaround with valuation not pricing in much at 11.5 times FY22 EV/FCF.
The target price is based on 12 times FY22E EPS (vs. 11 times earlier) as the uncertainty around the leadership transition fades.
The stock is currently trading at 14 times one-year forward P/E, almost in line with its long-term averages.
The Bengaluru-based firm noted that the conditions caused by the COVID-19 pandemic can affect the rate of customer spending, including through cancellations or ramp-downs of existing projects, increased requests for furloughs and price discounts.
The bulls led the charge on Street with the advance-decline ratio at nearly 5:3 on the BSE.
The Digital Academies will initially focus on training 50 unemployed youth each in Mumbai and Pune.
Kandula and Yardi will report to Thierry Delaporte, Group Chief Operating Officer (COO), whose responsibility also includes Indian operations, it added.
In this first phase in India, two Digital Academies are being setup: a non-residential and co-ed center in Mumbai and an all-woman residential center in Pune.
Though Indian IT companies don’t record a metric like “pseudo FP”, a large part of the FP contracts are said to be pseudo FP.
India should be at the forefront of technology capabilities for the group. Second thing is what our partners expect.
Parekh made his mark at Capgemini because he made it competitive against Indian service providers like Infosys which he will now lead as CEO.
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