Wipro's vice-chairman Ashok Soota quits; to join $6-million start-up venture
wipro.com
(Saturday, July 10, 1999)
Our Bureau in Bangalore(BS)
Wipro Ltd vice-chairman Ashok Soota has announced his resignation from the company thus ending his highly successful 15-year tenure from the organisation. Mr Soota is expected to join a start-up venture with few other high ranking ex-employees of Wipro which is likely to be backed by Walden International with an investment of US$6 million. Meanwhile Wipro has announced the appointment of Vivek Paul as vice-chairman on its Board of Directors with effect from July 26, 1999.
According to Wipro, Vivek Paul will be President and Chief Executive Officer of Wipro Infotech Software and Services Group, and will be based at Wipro's Santa Clara office in California, USA and he joins from General Electric of USA where he was the head of their Global Computerised Tomography business, a US$700 million business unit of US$5 billion GE Medical Systems since 1996. Incidentally this new assignment for Mr Paul is his second coming to Wipro as he was earlier with Wipro GE Medical Systems in India for 6 years, 3 years of which were as President and Chief Executive Officer.
Mr Soota will be with Wipro till August 31, 1999 and is expected to join a couple of high-ranking ex-employees of Wipro namely - Subroto Bagchi and N Krishnakumar for the start-up venture. However, the profile of the new organisation is not yet clear.
According to a communication sent to employees of Wipro, the corporation's chairman Azim H. Premji has stated that Mr Soota was an integral part of Wipro Infotech and under his leadership, the Infotech Business grew in size and stature.
The chairman has further stated that Mr Soota significantly contributed to a number of strategic alliances and joint ventures of Wipro, with global partners such as Sun Microsystems and Acer. "Ashok represented Wipro in various industry forums and contributed in providing direction to the Indian infotech industry. Its been a privelege knowing Ashok and working with him. I wish him every success," Mr Premji has stated.
Wipro Infotech Software and Services, with 500 software professionals serving customers in North America, Europe, Japan and Asia-Pacific, is a part of Rs 2,200 crore Wipro Corporation which serves customers through high value information technology software, services and systems, consumer care and lighting brands and healthcare technology services. |
