Wipro shares jump 7 per cent on new CEO appointment

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Wipro
Wipro's CEO designate Thierry Delaporte

New Delhi: Shares of Wipro on Friday closed nearly 7 per cent higher after the company announced the appointment of Capgemini Group veteran Thierry Delaporte as its CEO and MD, effective July 6.

After a firm opening, scrip of the IT services major rose 7.75 per cent to Rs 214.75 on the BSE during the day. Later, it closed at Rs 212.55, up 6.65 per cent. It advanced 6.29 per cent to close at Rs 211.90 on the National Stock Exchange (NSE).

The company’s market valuation rose by Rs 7,572.47 crore to Rs 1,21,439.47 crore. In terms of traded volume, 24.80 lakh shares of the company were traded on the BSE and over 3 crore shares on the NSE during the day. In January this year, the company had said its CEO and MD Abidali Z Neemuchwala decided to step down from the position. Neemuchwala will relinquish his designation as CEO and MD on June 1.

Rishad Premji will oversee the day-to-day operations of the company until July 5, Wipro said in a statement. “Until recently, Thierry Delaporte was the chief operating officer of Capgemini Group and a member of its group executive board. During his 25-year career with Capgemini, he held several leadership roles,” it said.