Wipro's joint CEOs get flooded with job calls
By
siliconindia | Wednesday, 16 February 2011, 18:29 IST

New Delhi: There is no end of opportunities for Wipro's joint CEOs Girish Paranjpe and Suresh Vaswani. Within hours of their resignation, they got flooded with calls not only from Indian IT sectors but from companies operating in private equity and manufacturing including multinationals if they could hire them.
"Companies are asking about their availability and trying to collect information about them," says R Suresh, Mananging Director of the Mumbai-based executive search firm, Stanton Chase. He said he received calls from a PE firm and a Chennai based $3 billion industrial group soon after news of their resignation became public. "The group is looking to set up an IT services wing of its own," he added.
Korn/Ferry International also received calls from a US-based multinational enquiring about the executives. According to them mid-size companies like Mahindra Tech, L&T Infotech and Aricent have grown in the past having experiences from such leaders. Multinationals want to set their footprints in India with the help of such experience leaders.
Bangalore-based The Head Hunters India received calls from firms in the list of the Top 10 Indian IT companies. Demands of the CEOs can be visible from the fact that top leaders of some organizations are calling up the placement firms to enquire about them. Kris Lakshmikanth of The Head Hunters India feels that many companies will be keen to have Paranjpe and Vaswani as independent directors on their boards.
Wipro has appointed TK Kurien as the new CEO of its IT business, with effect from February 1. They served the company as CEOs for past three years. "The joint CEO structure was one of the key factors that helped us successfully navigate the worst economic crisis of our times. With the change in environment, there is a need for a simpler organizational structure," Chairman Azim Premji said. Although speculations were made that resignations took place soon after Wipro's third quarter results were announced.