‘Turnaround Takes Time, But We’re On It’
On Wednesday, Bengaluru-based Wipro posted lukewarm numbers that largely met its own guidance, but fell marginally short of market expectations, as India’s third-largest software exporter continues to lag larger peers TCS and Infosys. In an interview with ET’s Anirban Sen , new CEO Abidali Neemuchwala spoke about the broader contours of his current strategy, his experience of working with billionaire chairman Azim Premji and how long Wipro’s turnaround is expected to take. Edited excerpts:
You have set ambitious long-term growth targets. When do we start seeing industry-level growth rates from Wipro? It (the turnaround) does take time. I have intermediate timelines in mind. Publicly, we are not talking about how long it takes. It’s not something that happens tomorrow, but it can’t take forever.
What are some of the things that need to be fixed on priority? The things that needed to be fixed on an immediate basis — I had enough time to do that even before the announcement (of becoming CEO) because I was in the organisation for over nine months. Now stability is there and now it is about executing on the strategy. You wouldn’t hear of more changes being made. What you will hear is periodically how we are progressing on the strategy. Change has its own repercussions. I think we’ve done an excellent leadership transition.
So should we expect consistency soon? Absolutely. You should be able to see a trajectory.
Is pricing pressure significantly impacting margins? I wouldn’t call it a pricing war. What I would say is that if you are an incumbent, you have to proactively say that new technologies are available and with things like robotics, I can do this faster, better and cheaper. You don’t do that as an incumbent, somebody else will come and tell the customer that this can be done.