On Thursday, Wipro (WIPR.NS) said that Jatin Dalal, its chief financial officer for almost two decades, has quit to seek other possibilities.
The business said 20-year veteran Aparna Iyer, most recently senior vice president and CFO of Wipro’s cloud services unit, will succeed Dalal.
Iyer will become CFO on Sept. 22, although Dalal will stay till Nov. 30, Wipro stated.
Dalal became CFO in 2015, and CEO Thierry Delaporte led Wipro through the epidemic as digital services demand soared.
The Bengaluru company’s stock rose 57% in 2020 and 85% in 2021. It lost some of those gains last year as demand fell.
Wipro and its larger peers warned of an uncertain climate as clients trimmed spending in July, and the company stated IT service revenue would stay flat in the quarter.
Recession fears in their core U.S. and European markets are delaying contract closes, order rampdowns, and cancellations for Indian IT companies.
According to Goldman Sachs, pent-up demand and generative AI tech adoption are expected to boost sector revenue growth.
Delaporte said Iyer has been crucial to Wipro’s finance overhaul in recent years.
She was “a key role in our financial strategy and planning, investment programs, and transformation initiatives,” Delaporte added.
Wipro shares are up over 9% this year, behind the 15% Nifty IT index advance.