Sudip Nandy, who was heading the telecom and product engineering solutions business unit at Wipro Technologies, has quit. Sources in the IT industry say that he is likely to join a smaller IT company. Nandy, who was responsible for Wipro’s acquisition strategy, has led the second largest successful outbound acquisition by an IT company in India. He led the acquisition of Nasdaq listed Infocrossing for $600 million and later also worked on the integration process.
This departure adds to the recent top level exits at Wipro, with Sudip Banerjee moving to L&T Infotech recently, as CEO. Also P.R. Chandrasekar, the head of Wipro’s American operations, left to join Hexaware Technologies Ltd as CEO. All these exits will definitely have an impact on Wipro internally.
“The departure will definitely affect Wipro as he was one of its pillars,” says Manohar Atreya, Head, Technology Investment Banking, 03 Capital. “Product engineering is a relatively specialised space. Also this segment contributes to about 25% of revenues of Wipro.”
All these exits follow the recent reorganisation at Wipro. In April, Suresh Vaswani and Girish Paranjpe were named co-chief executive officers at Wipro. Mint quotes ex-Wiproite Sudeep Banerjee as saying that the April reorganisation “has made people decide on their priortities”.
Sudip was with Wipro since 1983 and has held various positions at the company. Nandy’s unit, telecom and product engineering, contributes more than $1 billion of revenues to Wipro with more than 150 clients. He headed Wipro’s “string of pearls” acquisition strategy of buying some 12 firms. Sudip will serve the company till September 30, 2008.