Wipro CEO Srinivas Pallia Sells 1 Lakh Shares Worth Crores Ahead of THIS Key Decision – Details Revealed
Srinivas Pallia divested 1 lakh of his Wipro shares worth Rs 5 crore through a public market sale about six weeks prior to his appointment as the new chief executive at India’s fifth largest software services firm. Srinivas Pallia was appointed as the Chief Executive Officer and Managing Director of Wipro with effect from April 7, 2024, for a period of five years. The USD 11.2 billion global information technology, consulting and business process services company competes in the global outsourcing market with Tata Consultancy Services, Infosys, HCL Technologies, Cognizant and other international and domestic IT players.
On February 14, Pallia sold his 1,00,000 Wipro shares via a “market sale,” with the transaction being formally reported to the exchange on February 15. The total value of the transaction amounted to Rs 5,05,12,640. According to information from the BSE, Pallia’s securities holdings after the transaction were reduced to zero, as per Economic Times report.
Pallia has been with Wipro for over three decades and most recently served as the CEO for ‘Americas 1’ region, which is Wipro’s biggest and fastest growing strategic market. In this role, he oversaw diverse industry sectors, established their vision, and implemented growth strategies, resulting in increased market shares within these sectors, according to the company. Pallia is a member of the Wipro Executive Board.
Pallia joined Wipro in 1992 and has held many leadership positions, including President of Wipro’s Consumer Business Unit and Global head of Business Application Services.
Pallia holds a bachelor’s degree in engineering, and a master’s in management studies from the Indian Institute of Science, Bangalore. He graduated from Harvard Business School’s Leading Global Businesses executive program, and the Advanced Leadership Program at McGill Executive Institute.
