Wipro a leading information technology company and provider of integrated business has received yet another shock when one of the long time employee and a top executive announced his resignation.

As per the latest updates, the company has lost its top executive to L&T. Sudip Banerjee who had been working with Wipro for long time has moved ahead to join L&T’s IT subsidiary, L&T Infotech, as CEO. He will replace V Magapu who was handling the additional responsibility of L&T Infotech CEO along with the directorial membership.

As per reports, the new appointment will give a push to IPO plans which have been turned off several times. Also, the company has plans to wait till the market conditions get uplift.

Earlier to this appointment, Banerjee was moved to Premji Investments following reorganization in May this year. Prior to this he was heading the enterprise solutions division of Wipro Technologies. Banerjee is working with Wipro since 1983, and his exit is the second of a senior Wipro executive, post-reorganization. Earlier, P R Chandrasekar, president (North America and Europe), had quit after about eight years in Wipro.

Renu Singh/ITVoir Network