Wipro Ltd 6-K, filed Sep 25, 2023
Wipro Ltd (WIT)
About this 6-K
Wipro Ltd filed this 6-K on September 25, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of September 2023
Commission File Number 001-16139
Wipro Limited
(Exact name of Registrant as specified in its charter)
Not Applicable
(Translation of Registrant’s name into English)
Karnataka, India
(Jurisdiction of incorporation or organization)
Doddakannelli
Sarjapur Road
Bangalore, Karnataka 560035, India +91-80-2844-0011
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
DISCLOSURE OF OFFICER TRANSITION
Wipro Limited, a company organized under the laws of the Republic of India (the “Company”), hereby furnishes the Commission with the following information relating to the resignation of the Company’s Chief Financial Officer and the appointment of a new Chief Financial Officer. The following information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On September 21, 2023, the Company informed the securities exchanges in India on which its securities are listed and the New York Stock Exchange that the Board of Directors of the Company has noted the resignation of Jatin Pravinchandra Dalal as its Chief Financial Officer and he will be relieved from the services of the Company with effect from November 30, 2023. The Board of Directors of the Company has approved the appointment of Aparna C. Iyer as its Chief Financial Officer, with effect from September 22, 2023 (the “Officer Transition”). A copy of the letter to the securities exchanges concerning the Officer Transition is attached hereto as Item 99.1.
On September 21, 2023, the Company issued a press release (the “Press Release”) concerning the Officer Transition. A copy of such Press Release is available on the Company’s website and is attached hereto as Item 99.2.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly organized.
| WIPRO LIMITED | ||
| By: | /s/ Thierry Delaporte | |
| Chief Executive Officer and Managing Director | ||
Dated: September 25, 2023
INDEX TO EXHIBITS
| Item |
||
| 99.1 | Letter to the Exchanges dated September 21, 2023. | |
| 99.2 | Press Release dated September 21, 2023. | |
Exhibit 99.1
September 21, 2023
The Manager – Listing
BSE Limited
(BSE: 507685)
The Manager – Listing
National Stock Exchange of India Limited
(NSE: WIPRO)
The Market Operations,
NYSE, New York
(NYSE: WIT)
Dear Sir/Madam,
Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
The disclosure pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Clause 204.10 of the NYSE Listed Company Manual, is enclosed.
| Thanking you. |
| For Wipro Limited |
| /s/ M Sanaulla Khan |
| M Sanaulla Khan |
| Company Secretary |
Annexure-1
Details required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
| Sl. No. |
Particulars |
Details | ||
| 1. | Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise | 1. Resignation of Mr. Jatin Pravinchandra Dalal as Chief Financial Officer of the Company. | ||
| 2. Appointment of Ms. Aparna Iyer as Chief Financial Officer of the Company. | ||||
| 2. | Date of appointment / re-appointment / cessation (as applicable) & term of appointment / re-appointment; | The Board of Directors has noted the resignation of Mr. Jatin Pravinchandra Dalal and he will be relieved from the services of the Company with effect from November 30, 2023. A copy of the resignation letter dated September 20, 2023 submitted by Mr. Jatin Pravinchandra Dalal is enclosed. | ||
| At their meeting held on September 21, 2023, which concluded at 4:10 PM, the Board of Directors has approved the appointment of Ms. Aparna Iyer as the Chief Financial Officer of the Company with effect from September 22, 2023. | ||||
| 3. | Brief profile (in case of appointment) | Ms. Aparna Iyer’s brief profile is enclosed. | ||
| 4. | Disclosure of relationships between directors (in case of appointment of a director) | Not applicable | ||
September 20, 2023
From
Jatin Pravinchandra Dalal
Chief Financial Officer
Wipro Limited
Bangalore
To
The Chief Executive Officer and Managing Director
Wipro Limited
Thierry,
Letter of resignation
I am deeply grateful to Wipro for the multitude of opportunities given to me over last two decades.
At this juncture of my career, I am eager to pursue my professional goals outside the organization. Accordingly, I am tendering my resignation. As per our discussion, my last day of employment will be November 30, 2023.
Once again, I am very thankful to the organization.
Confidential-Internal
Brief Profile
|
Aparna Iyer
Aparna Iyer is an accomplished and results-driven leader. Throughout her career with Wipro, she has been a dynamic, forward-thinking strategic partner to our business leaders. In a career spanning 20 years, Aparna has played several leadership roles covering the breadth & depth of finance, ranging from Internal Audit, Business Finance, Financial Planning & Analytics and Corporate Treasury & Investor Relations. More recently, she was appointed as CFO of Wipro’s FullStride Cloud Global Business Line, with the intent of deepening her expertise as future CFO. She has deep expertise in financial risk management, capital allocation, fund raising, driving business strategy and growth.
Aparna is a qualified Chartered Accountant (CA) and was a gold medalist of the CA 2002 batch. |
Exhibit 99.2
September 21, 2023
The Manager- Listing
BSE Limited
(BSE: 507685)
The Manager- Listing
National Stock Exchange of India Limited
(NSE: WIPRO)
The Market Operations
NYSE: New York
(NYSE: WIT)
Dear Sir/Madam,
| Sub: | Press Release |
Please find attached herewith copy of the Press Release which is being released today.
| Thanking you, |
| For Wipro Limited |
| /s/ M Sanaulla Khan |
| M Sanaulla Khan |
| Company Secretary |
Wipro Appoints Aparna C Iyer as Chief Financial Officer
EAST BRUNSWICK, N.J. | BENGALURU, India – Sept. 21, 2023 – Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced that it is appointing Aparna C Iyer as Chief Financial Officer, effective immediately. Aparna will report to CEO Thierry Delaporte and will join the Wipro Executive Board. She succeeds Jatin Dalal, who is stepping down as CFO to pursue other career opportunities.
“Aparna is an accomplished and results-driven leader. Throughout her 20-year career with Wipro, she has been a dynamic, forward-thinking strategic partner to our business leaders,” said Thierry Delaporte, Chief Executive Officer and Managing Director, Wipro Limited. “Aparna has been integral to our finance transformation over the last few years, playing a key role in our financial strategy and planning, investment programs, and transformation initiatives. Her commitment to creating lasting value, expertise across the full spectrum of finance operations, and her experience in working with a range of stakeholders will be instrumental in achieving our financial objectives.
“I also want to thank Jatin for his contributions to Wipro over his tenure and wish him the best in his future endeavors.”
Aparna joined Wipro in April 2003. Over her 20 years with Wipro, she has held several finance roles, including Internal Audit, Business Finance, Finance Planning and Analysis, Corporate Treasury and Investor Relations, and, most recently, Senior Vice President and CFO of Wipro FullStride Cloud. Aparna has deep expertise in financial risk management, capital allocation, fund raising, driving business strategy and growth.
“I am thrilled to take on the role of CFO at this important juncture for Wipro,” said Aparna. “As we continue our transformation journey, I look forward to working with Thierry, our finance team and the entire organization to build on our successes, drive sustainable growth, and create value for our stakeholders.”
Aparna is a Chartered Accountant (CA) and was a gold medalist of the CA 2002 batch.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With 250,000 employees and business partners across more than 60 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.
Media Contact:
Sanuber Grohe
Sanuber.grohe@wipro.com
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.