{"id":21355,"date":"2024-04-08T14:06:33","date_gmt":"2024-04-08T14:06:33","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/08\/delaportes-goodbye-note-to-wipro-staff-new-ceo-at-byjus-aakash\/"},"modified":"2024-04-08T14:06:33","modified_gmt":"2024-04-08T14:06:33","slug":"delaportes-goodbye-note-to-wipro-staff-new-ceo-at-byjus-aakash","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/08\/delaportes-goodbye-note-to-wipro-staff-new-ceo-at-byjus-aakash\/","title":{"rendered":"Delaporte’s goodbye note to Wipro staff; new CEO at Byju’s Aakash"},"content":{"rendered":"
\"Delaporte’s<\/div>


\n<\/p>\n

Outgoing Wipro CEO Thierry Delaporte said in an email to employees that his task of bringing about a deep structural transformation at the IT firm has been accomplished. This and more in today\u2019s ETtech Top 5. <\/p>\n

Also in this letter:<\/span>
\u25a0 India Inc heavyweights look to build AI skills
\u25a0 Inside Apple\u2019s Awas Yojana
\u25a0 Illegal betting sites revive activities amid IPL<\/p>\n

\n

Wipro CEO Thierry Delaporte recaps his four-year stint in email to staff<\/p>\n

<\/div>\n

Days after Wipro announced the resignation of Thierry Delaporte, the outgoing CEO wrote a four-page email to employees<\/a>, saying his work at the fourth largest IT company has been accomplished and he’s handing over the baton to Srini Pallia.

Heart to heart: <\/span>(In the last four years) The firm has seen a 35% revenue growth and a 25% increase in profits, apart from making 12 acquisitions, he said in the email.<\/p>\n

Delaporte said that Wipro is seen as a \u201ctransformation partner\u201d by its clients and is set for future growth. In the past four years, it has also witnessed enrichment in diversity inclusion \u2013 the number of women directly reporting to him has shot up from 5% to 35%.<\/p>\n

On Srinivas Pallia:<\/span> “I’m handing this over to my successor, who will drive excellence on the back of this transformation, and move towards executing all the investments we\u2019ve made,” he said, adding that Pallia was one of his “strongest leaders in the executive team” who was the “natural choice” for the top job.<\/p>\n

Srinivas Pallia has an uphill task to reverse the fortunes<\/a> of the company, we reported earlier. <\/p>\n

Wipro’s woes in four charts: <\/span>Wipro has hit a low relative to peers without any room to tweak its operating margin, which is also the lowest among top peers. We look at the company\u2019s challenges<\/a>.<\/p>\n

\"Wipro<\/div>\n

Share value erosion: <\/span>The underperformance concerning revenue, profit and margins has affected Wipro\u2019s stock performance over the past two years. During Delaporte\u2019s first year at the office, Wipro had outperformed peers and the sector index ET Infotech by a wide margin, delivering a two-fold jump. However, since 2022, the stock has not been able to hold on to these gains amid subdued financial performance<\/p>\n

Also read | Who is Srini Pallia, Wipro’s new CEO and MD?<\/a><\/p>\n

\n

Byju’s Aakash Institute appoints Deepak Mehrotra as MD and CEO<\/p>\n

\"Deepak<\/div>\n

Byju’s-owned Aakash Institute has appointed Deepak Mehrotra as its managing director and chief executive officer<\/a>, the company said on Monday. ET had reported on March 28<\/a> that Aakash had dropped plans for the potential return of promoter Aakash Chaudhry to the helm of affairs.<\/p>\n

Who is Mehrotra? <\/span>Mehrotra has over 35 years of experience in executive roles across sectors such as FMCG, telecom, and education. Before joining Aakash, he was the MD at Ashirvad Pipes and has also worked at Pearson India, Bharti Airtel, Coca-Cola and Asian Paints.

Quote, unquote: <\/span>\u201cIn his role as CEO, he will be responsible to deliver on our aggressive growth plan and to build on the significant momentum the company is currently experiencing. His business acumen and stellar record as the managing director for Pearson India will be pivotal in leading Aakash Byju’s into its next phase of growth and impact,\u201d said Byju Raveendran, founder and chairman, Byju\u2019s.<\/p>\n

\"Byjusss<\/div>\n

Pai, the decision-maker: <\/span>Ranjan Pai, the chairman of Manipal group, owns 40% in Aakash and has pumped in additional capital for daily operations <\/a>as well. He is seen as a key decision-maker at Aakash, sources have said.<\/p>\n

The Chaudhrys still own around 11% in Aakash, along with investment fund Blackstone which has 7%. The remaining stake is held by Raveendran and Byju\u2019s parent Think & Learn.<\/p>\n

\"classof24in-aakash.\"<\/div>\n

Arbitration against Byju’s: <\/span>In March, Ranjan Pai initiated arbitration proceedings against Byju<\/a>\u2019s for allegedly not repaying its loans amounting to $42 million through a pre-agreed transfer of certain shares of the offline coaching firm.<\/p>\n

An arbitrator, appointed under Singapore International Arbitration Centre rules, has ordered Byju’s not to dispose of 4 million shares of Aaaksh.<\/p>\n

\n

India Inc heavyweights look to build AI skills<\/p>\n

\"Advantage<\/div>\n

An increasing number of CEOs, CXOs and top management professionals are seeking to upskill and specialise in generative artificial intelligence<\/a> (GenAI) as new technologies emerge as disruptive forces.<\/p>\n

The AI push: <\/span>Leading global business school Insead has witnessed an uptick in senior professionals from India wanting to upgrade in new-age tech skills, including AI and GenAI, said dean Francisco Veloso. \u201cThere is a lot of interest from corporates and senior management professionals,\u201d he said.<\/p>\n

Demand for AI upskilling:<\/span> Edtech platform Upgrad too has seen a spike in demand for doctoral programmes in GenAI. \u201cCXOs, directors and seasoned professionals with 10 to more than 15 years of experience are opting for the executive doctorate programmes,\u201d said Upgrad cofounder Mayank Kumar. <\/p>\n

\u201cOver 95% of our enrolments come from professionals with over eight years of experience,\u201d he added.<\/p>\n

Corporate take: <\/span>Sunil D’Souza, CEO, Tata Consumer, said the company\u2019s senior digital team members are guiding the management on AI\u2019s business possibilities.<\/p>\n

\u201cOur digital team has run us through multiple inductions and shown us use cases of the art of the possible. We now have a small team starting to commercialise the good use cases,” he said.<\/p>\n

Sunil Kataria, CEO, Raymond Lifestyle (India & International), said: \u201cThe top leadership team is constantly collaborating with experts in the AI field.\u201d <\/p>\n

\n

Apple ecosystem pivots to housing factory workers after job boom<\/p>\n

\"stores<\/div>\n

After creating 150,000 direct jobs in around two-and-a-half years, the Apple ecosystem has shifted focus to providing residential facilities to factory employees,<\/a> in line with the China and Vietnam models of industrial housing.<\/p>\n

Tell me more:<\/span> Government officials told us that Apple\u2019s contract manufacturers and suppliers, including Foxconn, Tata and Salcomp, are planning to build over 78,000 homes for their employees.<\/p>\n

\"APPLE<\/div>\n

As part of the scheme, the central government will provide 10-15% of the funding while the rest will come from state governments and entrepreneurs. The construction and handover to the private sector is likely to be completed in this fiscal year ending March 31, 2025, the officials said.<\/p>\n

Efficiency and security: <\/span>Apple\u2019s largest iPhone supplier in India, Foxconn, which is based in Sriperumbudur, Tamil Nadu, will utilise nearly 35,000 of these units. Foxconn currently employs 41,000 employees, 75% of them women.<\/p>\n

Tata Electronics is building 11,500 units for use by its employees at its Hosur facility. Tata primarily manufactures iPhone enclosures for domestic use and exports. Salcomp, which manufactures power adaptors, enclosures and magnetics for Apple, will utilise 3,969 housing units.<\/p>\n

Ministryspeak:<\/span> The government wants to ensure comfortable housing for the workers as many of them come from different parts of the country. \u201cThat is why you need to ensure that they are given good-quality housing somewhere close to the factory as that improves productivity, conditions of work and it also results in better welfare outcomes for the workers,\u201d ministry of electronics and IT (Meity) secretary S Krishnan told ET.<\/p>\n

\n

Illegal betting sites start new innings as IPL action picks up<\/p>\n

\"sports<\/div>\n

With the Indian Premier League in full swing, illegal betting sites are cashing in on the craze.<\/a> Platforms such as Parimatch, Betway, 1XBet, Betfair, Crickex, Fairplay, and Lotus365 have stepped up their operations in India offering discounts and \u2018treasure hunts\u2019 for match tickets to entice cricket fans.<\/p>\n

\u2018False authenticity\u2019:<\/span> These illegal betting websites have packaged their offers in ways that provide a \u201cfalse sense of authenticity\u201d to unsuspecting users, E-Gaming Federation of India (EGF) said in a letter to the information and broadcasting ministry, electronics and information technology ministry, and other government agencies last week.<\/p>\n

EGF represents legitimate e-sports and fantasy gaming companies like Games24x7 and Head Digital.<\/p>\n

\"betting\"<\/div>\n

Bypassing the laws:<\/span> Online betting and gambling are banned in India as per provisions of the Intermediary Guidelines and Digital Media Ethics Code, better known as the Information Technology Rules of 2021.<\/p>\n

Yet, most sports betting sites have continued with impunity under various iterations of their original names and web addresses, an analysis by ET has found.<\/p>\n

Financial frauds: <\/span>According to digital fraud detection agency mFilterIt, the use of these platforms exposes users to easy financial fraud, misuse of their personal data and transaction laundering.<\/p>\n

\u201cOn such platforms, users can place bets on winning predictions, player performance, runs scored in overs or wickets falling, etc,\u201d mFilterIt cofounder Amit Relan said. \u201cAs betting activities are illegal in India, these sites operate from overseas and keep on changing their domain to avoid takedown.\u201d<\/p>\n

Today\u2019s ETtech Top 5 newsletter was curated by Megha Mishra in Mumbai and Gaurab Dasgupta in New Delhi.<\/em><\/p>\n<\/div>\n


\n
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Outgoing Wipro CEO Thierry Delaporte said in an email to employees that his task of bringing about a deep structural transformation at the IT firm has been accomplished. This and more in today\u2019s ETtech Top 5. Also in this letter:\u25a0 India Inc heavyweights look to build AI skills\u25a0 Inside Apple\u2019s Awas Yojana\u25a0 Illegal betting sites […]<\/p>\n","protected":false},"author":2,"featured_media":21356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-109135697\/Wipro%20quarterly%20results%20in%20Bengaluru.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[26596,26928,26927,8076,355,26702,3104,273,3234,500,21147,26926,5384],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/21355"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=21355"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/21355\/revisions"}],"predecessor-version":[{"id":21357,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/21355\/revisions\/21357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/21356"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=21355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=21355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=21355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}