The Indian IT industry has seen significant leadership changes over the past two years, with many CEOs and CFOs exiting and new ones taking their place. At Wipro, CEO Thierry Delaporte’s departure led to the exit of several senior executives, including COO Amit Choudhary and CTO Subha Tatavarti. The company appointed Srini Pallia, a 33-year veteran, as the new CEO and has since promoted several internal candidates to senior positions. Similar changes have occurred at other IT firms, including Infosys, HCLTech, and Mphasis, with many CFOs and CEOs being replaced by internal candidates.
Experts believe that this trend is driven by the desire to maintain continuity and stability within the organizations. Many IT service providers have implemented succession planning for senior management roles, ensuring swift internal promotions following senior management departures. Some CEOs have also brought in external recruits, such as Tech Mahindra’s Mohit Joshi hiring Richard Lobo from Infosys as chief people officer. The changes have not been limited to CEOs and CFOs, with many other senior executives also exiting and new ones taking their place.