Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals
Oct 13, 2020, 20:36 IST
- Wipro’s new CEO, Thierry Delaporte, outlined a five-point plan for the company’s growth going forward.
- Today’s earnings marked his first full quarter at the helm of the Indian IT services behemoth.
- Delaporte hasn’t ruled out bigger acquisitions or larger deals in the coming quarters.
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Thierry Delaporte is the Indian IT behemoth Wipro's new CEO, and he’s got a lot of changes in store. Marking his first full quarter at Wipro’s helm, Delaporte listed out his top five priorities for the company during the earnings call. “This is the charter that we’ve drawn for ourselves,” he explained.The focus will be on growth or ‘profitable’ growth, as Delaporte likes to specify. Other areas include scale, offerings, talent, and simplification of the operating model.
| Thierry Delaporte’s priorities for Wipro | Commentary |
| #1 Focus on growth | Continue to invest in Wipro’s existing account, shape large transformation deals and leverage partnerships with large technologies. |
| #2 Focus on scale | Prioritise market and sectors relevant for Wipro and ensure leadership position. |
| #3 Offerings | Expand presence beyond the IT office and leverage Wipro’s ecosystem of partners — large tech players and startups — in a sector-specific way. |
| #4 Talent | Invest in talent to reinforce innovation and technology skills. |
| #5 Simplification of operating model | Turn Wipro into a lean organisation centered around clients. |
More specifics of these five priorities will be shared in another month at an analyst meet tentatively scheduled to take place in the first week of November.
“While the traditional IT services will continue to be essential, the next wave of opportunity will be driven by truly next-generation services of cloud, digital transformation, IoT, and 5G,” said Delaporte.
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More acquisitions and larger deals
Since Delporte took over Wipro in July, the company has undertaken three acquisitions, including Wipro’s most recent purchase — engineering services company Eximius Design.
And, he has not ruled out more acquisitions in the near future, given the momentum and intensity of consumer demand in the IT industry right now. “We will be active and continue to acquire in some areas that we consider as strategic. We don’t limit ourselves in terms of size,” said Delaporte during the second-quarter earnings call on October 13.
“We will take our fair share of large deals,” he added, telling investors to also expect more large deals in the coming quarters.
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