Vivek Paul leaves Wipro for Texas Pacific group
One of the most recognized faces of the Indian IT Scene and reportedly, the highest paid executive in India (annual salary of Rs. 7.15 crore in 2004-05) Vivek Paul has left Wipro to take on the new challenges in life. He was working as Vice Chairman of the Wipro Company. He is said to be prime factor in Wipro becoming a billion dollar company now from a company worth $150 million few years ago.
He had earlier joined Wipro back in 1999 when the dot com boom was at its top. He now joins as a partner at the Texas Pacific group, a U.S.-based private investment firm. This company invests in technology and life sciences space. Wipro Chairman and one of the Indiaâ€™s richest businessman Azim Premji said in a statement: “Mr. Vivek’s contribution to the success of our Global IT business has been significant, reflected in Wipro’s lead position today in many areas â€” R & D Service, IT Outsourcing and BPO.â€
Vivek Paul himself said in a statement released to the media: “The past six years have been deeply fulfilling for me. Wipro today leads in the transformation taking place in the technology and business Services space, and is therefore ideally positioned to enhance customer value.â€
The company has however announced no replacement for Vivek Paul at this moment. However, market analysts believe that the company would soon announced decisions to get the position filled up. Currently, some minor reorganization was done in the companyâ€™s senior level to get the things back to normalcy after the departure of Vivek Paul.