Wipro’s new CEO and MD, Srinivas Pallia, will receive a maximum compensation of $7 million per annum for the first two years, including a cash compensation that may range from a minimum of $1.75 million and a maximum of $3 million per annum.The IT major in a filing with BSE also said that the former CEO, Thierry Delaporte will be paid $4.33 million in the form of cash compensation and applicable social security contributions, subject to appropriate deductions. Meanwhile another exchange filing...
New Wipro chief executive, Srinivas Pallia who has just completed two weeks at his office, revealed his strategy to revive growth at the fourth-largest IT service major. After taking over the charge, he spoke to media for the first time during the announcement of Q4 earnings.Pallia, who has been with Wipro for over three decades, said, during the Q4 earnings that the building blocks are firmly in place, and he is committed to build on this. “While I remain optimistic about the long term, it is...
It's déjà vu for the luxury fitness company: Peloton is cutting about 400 more jobs, and its CEO is stepping down just two years after a major shakeup.
Paramount Global CEO Bob Bakish is stepping down and will be replaced by three executives, the company said today as it reported quarterly earnings that beat Wall Street expectations.
Paramount Global has announced that Bob Bakish is stepping down as CEO of the film, television and multimedia company
Outgoing Wipro CEO Thierry Delaporte is set to get a separation payment of Rs 92.1 crore (or about $11 million) after his ahead-of-schedule exit from India's fourth-biggest outsourcing company, joining a swelling list of top executives in the country's most globalized industry to have inked iron-clad job contracts that guarantee hefty severance packages. Pursuant to the terms of the employment arrangement with Mr. Delaporte, if his employment is terminated by the company without a cause, the...
Paramount Global CEO Bob Bakish is out, the company announced Monday, as
Ola Cabs chief executive Hemant Bakshi is leaving just three months after the ride-hailing company publicly announced his appointment, with founder Bhavish Aggarwal once again taking over the reins at the firm, people in the know told ET.The company will also undertake a restructuring that will see at least a 10% reduction in headcount, impacting about 200 employees, the people said.Bakshi joined Ola Cabs in the middle of September 2023, but the company publicly announced it only in January this...
Happy Thursday! Singapore investor Temasek and US-based fund Fidelity are preparing for a $200-million funding round in Lenskart. This and more in today's ETtech Morning Dispatch.Also in the letter:■ Flipkart’s FireDrops seeks use cases■ Zilingo's Ankiti Bose files FIR against cofounder ■ Database company MongoDB ups India play Temasek, Fidelity may invest $200 million in Lenskart via secondary deal109577363Singapore’s state-owned Temasek and US investment fund Fidelity are in talks to invest in...
ADM CEO to resign Archer Daniels Midland has announced its chief financial officer will resign later this year. Vikram Luthar was put on administrative leave in January for accounting irregularities in ADM’s nutrition business while the company cooperated with an investigation. Luthar, who will step down Sept. 30, will reportedly receive over $743,000 as a cash performance incentive award for 2023. Students hospitalized after ingesting edibles ...
HYBE has initiated an audit of the management at ADOR, a subsidiary label that includes the group NewJeans.On the 22nd, news emerged that HYBE had ca
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