Wipro Limited appoints Deepak M Satwalekar to its Board

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WPRO), a leading global information technology, consulting, and business process services company, today announced the appointment of Deepak M Satwalekar, a widely respected financial services professional, to its Board of Directors for flve years effective July 1 ,2020, subject to the approval of the shareholders.

Deepak will serve as an lndependent Director on the Board and will bring a wealth of experience to Wipro having spent over four decades in the financial services industry and as an advisor and Board member of companies from diverse industries.

In his illustrious career, Deepak has been the Managing Director of HDFC Ltd and subsequently the Managing Director and CEO of HDFC Standard Life lnsurance Co. Ltd. He has also been a consultant to the World Bank, the Asian Development Bank, the United States Agency for International Development (USAID) and the United Nations Human Settlements Programme (UNHABTTAT).

Welcoming him to the Board, Rishad Premji, Chairman, Wipro Limited said, "I am truly excited to have Deepak join our Board. With his deep repository of knowledge spanning across the financial services sector, sharp business acumen, understanding of technology and as a strong votary of the highest standards of corporate governance, his invaluable experience will immensely benefit Wipro."

Commenting on his appointment, Deepak Satwalekar said, "I am delighted and honored to be invited to join the Board of Wipro, an organization which is globally respected both for its technology leadership and its steadfast commitment to values. I look fonuard to contributing to the company's growth charter."

Deepak is a recipient of the 'Distinguished Alumnus Award' from the Indian Institute of Technology (IIT), Bombay and is currently the Chairman, Board of Governors of the Indian Institute of Management, Indore.

Shares of WIPRO LTD. was last trading in BSE at Rs.199.05 as compared to the previous close of Rs. 201.75. The total number of shares traded during the day was 271186 in over 4247 trades.

The stock hit an intraday high of Rs. 203.9 and intraday low of 196.1. The net turnover during the day was Rs. 53900240.

Source : Equity Bulls

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