Attrition at top-level management in Wipro is continuing. Sudip Banerjee, who was working as head of Premji Investments of Wipro has left Wipro to join L&T Infotech as CEO. Banerjee replaced V Magapu as CEO. V Magapu said that L&T was looking for a CEO for a long time, and they wanted a person from the IT background.

 

Banerjee worked with the Wipro Group since 1983. He switched his responsibility from the enterprise solutions division to Premji Investments. Premji Investments is a private investment arm of Wipro chairman Azim Premji. Banerjee has seconded P R Chandrasekar in leaving Wipro. Chandrasekar was heading North America and Europe operations of Wipro.

 

The new appointment according to reports will revive L&T Infotech’s IPO plans. The firm has previously postponed IPOs multiple times because of bad market conditions. The company wants to go in public with better turnover and revenue. Magapu excitingly said that the running team is ready, and the firm is waiting for the sun to come out of the clouds now.