Srini Rajamani, a senior executive at Wipro, has resigned to become CEO of Opus Technologies, a US fintech company. His move reflects a trend of executives leaving large corporations for roles in specialized firms. Rajamani’s departure highlights the ongoing leadership changes at Wipro, which has seen significant turnover in senior management positions. This trend mirrors broader industry shifts towards agility and specialization.
A senior executive at Wipro Ltd has resigned to become the CEO of Opus Technologies, a US-based fintech firm. Srini Rajamani, who has been with Wipro since 2005 and led significant sectors within the company, cited the attraction of smaller, focused firms as a reason for his departure. His last day at Wipro will be Monday, marking a notable high-profile exit from one of India’s largest IT services companies.
Rajamani’s move comes in a context where clients increasingly prefer to work with specialized firms rather than large service providers. He highlighted that, “Today, clients of IT services companies want to be in the top five accounts and not the 25 largest accounts of a software service provider.” Opus Technologies, employing approximately 800 staff globally, offers expertise in card management and payment solutions, presenting an appealing opportunity for him.
This resignation follows a trend of leadership changes at Wipro, particularly since Srinivas Pallia took over as CEO last year. Notably, Laura Langdon also vacated her position as chief marketing officer in December, reflecting ongoing turnover within the senior management team. Over the past two years, more than 30 senior-level executives have departed from Wipro, primarily seeking better prospects elsewhere.
Other high-profile exits from Wipro include Rajan Kohli, who transitioned to a medtech company after 28 years in leadership roles. During his time at Wipro, Rajamani was instrumental in securing major contracts, including a significant deal with Estée Lauder.
The trend of seasoned executives transitioning to smaller companies is not unique to Wipro. Similar occurrences have been seen at other firms, like Tech Mahindra, where long-serving leaders have started their own startups. Ritu Sethi of ABC Consultants attributes this trend to individuals’ desires for ownership, faster impact, and the potential financial incentives that accompany such roles.
The technology and IT services industry in India has witnessed a recent uptick in high-profile leadership departures. As companies like Wipro limit growth opportunities for executives, many are opting for roles in smaller, more agile firms that allow for greater impact and direct ownership. This shift reflects a broader trend where talent seeks more specialized environments, often driven by client demands for focused expertise and personalized service.
Srini Rajamani’s departure from Wipro underscores a larger trend in the IT industry, with executives increasingly pursuing opportunities at specialized firms. This trend is fueled by changing client expectations towards more focused service providers, alongside the appeal of direct impact and ownership in new ventures. As Wipro faces ongoing leadership turnover, the industry at large navigates a shift toward agility and specialization in response to market demands.
Original Source: www.livemint.com
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