Malay Joshi to head Wipro’s biggest business unit, Americas 1

After Srinivas Pallia takes over the role of new MD & CEO at Wipro, the Indian IT major on
Wednesday appointed Malay Joshi as the chief executive officer (CEO) of its largest market
unit, Americas 1.
In an exchange filing, the company informed that Joshi, who has been with the company
with around three decades, will lead the Americas 1 effective immediately. This position fell
vacant after Srinivas Pallia took over the role of CEO at Wipro, who had led this critical unit
before his elevation to the top job.
Malay Joshi was previously the Senior Vice President (SVP) and Business Unit Head of
Communications, Media, Tech, Retail, Travel, Hospitality and Public Sector industries, which
is one of Wipro’s largest business units.
“Malay has been leading one of the largest business units at Wipro and has delivered the
highest CAGR (Compound Annual Growth Rate) over a decade across multiple global
businesses,” said Srini Pallia, CEO & MD at Wipro.
Commenting on the appointment, Malay Joshi, CEO of Americas 1 Strategic Market Unit at
Wipro said, “I am looking forward to leading our talented team toward a future where we can
harness the power of technology to continue to enhance our value proposition for our clients
and communities.”
Joshi, who is a member of Wipro’s Culture Council, will be based out of Wipro’s New York
City office, the company in the release.
Americas 1 is the biggest geographical unit of Wipro, contributing more than 30 per cent of
its total revenues. In the third quarter ended December (Q3 of FY24), this market unit
contributed $823.4 million, which is around 31 per cent of Wipro’s $2.66 billion revenue
during this period. Wipro follows April-March financial year cycle.
In a shakeup, Thierry Delaporte resigned from his position last week with the company
appointing Srinivas Pallia as its new CEO. Though the announcement didn’t evoke much
surprise among market watchers, such change didn’t go down well among investors. The
stock price lost 1 per cent on Monday (April 8), though it regained some its losses on
Wednesday.
The Bengaluru-headquartered firm has underperformed in 2023 in revenue growth and
operating margin fronts as compared to its peers like Tata Consultancy Services (TCS),
Infosys, and Cognizant among others.
Many prominent leaders including chief growth officer Stephanie Trautman, chief financial
officer Jatin Dalal, Chief Operations Officer Sanjeev Singh, Americas 2 CFO Nithin V
Jaganmohan, and many others had left the company in 2023. Moreover, some of the big
ticket acquisitions like Capco, which the company acquired for $1.45 billion in 2021, didn’t
give intended results owing to tepid demand environment.