Wipro, India’s third largest IT services exporter, has initiated certain organisational restructuring of its business segments by combining two of its verticals into a single unit. It also brought certain changes in its unlisted entity ? infrastructure engineering by elevating the president to the CEO’s role, according to sources.
Company’s official response was awaited at the time of going to press.
As part of the new changes, the advanced technologies and analytics will be combined into a single unit. The advanced technologies segment was created under the leadership of CEO TK Kurien to focus on new areas of business for Wipro.
Analytics is considered to be an important growth driver for Wipro, currently contributing around 7.2% of the company’s revenue. Wipro also had announced the acquisition of Australian firm Promax to strengthen this segment.
In the infrastructure engineering segment, which comes under the unlisted entity of the Group ? Wipro Enterprises, the company has elevated the role of its president, Pratik Kumar to chief executive officer. Pratik had assumed the role of president of Wipro Infrastructure Engineering in July 2010, which manufactures hydraulic cylinders.
Under the new changes, Pratik Kumar who also holds additional responsibility as executive president?HR at Wipro Limited will be no more in-charge of this portfolio that will be taken over by Saurabh Govil, senior vice president?HR, Wipro Limited.
In November 2012, Wipro had announced the biggest restructuring exercise bringing about a clear separation between the IT and non-IT business giving better clarity for the investors while providing the avenue for improved valuation at the marketplace.
Under the planned demerger process, Wipro’s businesses spanning consumer care, lighting, furniture, infrastructure engineering and medical equipment will be carved into a separate unlisted entity called Wipro Enterprises Limited. The mainstay IT business will remain a publicly listed company and called Wipro Limited.
