Shares of Wipro were trading 5.6% higher on Friday, after the IT firm announced the appointment of top Capgemini executive Thierry Delaporte as the Chief Executive Officer and Managing Director of the company, effective July 6, 2020.
He will replace Abidali Neemuchwala, who will relinquish his position as CEO and MD by June 1, 2020. Until his joining, Chairman Rishad Premji will oversee the company's operations.
Wipro share price climbed 5.6% to the day's high of Rs 210.5 on the BSE against the last closing value of Rs 199.30. Currently, the stock trades higher than its 5, 20 and 50-day moving averages but lower than 100 and 200-day moving averages.
Wipro shares have gained 10.38% in one week and 15.38% in the last one month period. Market capitalisation of the firm stood at Rs 1.19 lakh crore as of today.
Volume-wise, 18.8 lakh and 162 lakh shares were trading on BSE and NSE counters, both above the 5, 10 and 30-day average. Market depth data suggested 70% buying against 30% selling pressure on the stock price today.
Expressing views on Thierry joining the IT firm, Rishad Premji, Chairman, Wipro said, "l am delighted to welcome Thierry as CEO and Managing Director of the company. Thierry has an exceptional leadership track record, strong international exposure, deep strategic expertise, a unique ability to forge long-standing client relationships, and proven experience of driving transformation and managing technological disruption. We believe that Thierry is the right person to lead Wipro in its next phase of growth."
Thierry, who holds a bachelor's degree in Economy and Finance from Sciences Po Paris and a Masters in Law from Sorbonne University, was earlier the Chief Operating Officer and a member of its Group Executive Board of Capgemini Group.
The IT major had announced quitting of CEO and Managing Director Abidali Z Neemuchwala from his position, earlier in January this year.