Indian software major Wipro announced Friday a change in leadership to bolster its profit performance after releasing quarterly earnings that lagged its IT peers.
The outsourcing bellwether, based in the tech hub of Bangalore, said its joint chief executives Girish Paranjpe and Suresh Vaswani would step down on February 1 and be replaced by T.K. Kurien, who now heads its eco-energy unit.Wipro, struggling to keep up with rivals in grabbing new contracts, reported profits for the third quarter to September rose 9.6 percent to 13.19 billion rupees ($292 million), up from 12.03 billion rupees a year earlier.
Billionaire Wipro chairman and founder Azim Premji admitted that Wipro has grown "slower than competition" in recent financial quarters.
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