There were always questions on whether two men –or women- can co-exist at the top. One more answer to that never ending debate was added by Wipro. In 2008, Wipro appointed two people, Suresh Vaswani and Girish Paranjpe at the helm, as joint chief executive officers. This debate of joint leadership is best exemplified in large global corporations, with large operations in two continents, notably of Anglo-Saxon origins. Unilever Plc is another example which moved to a single line of command in recent years.
Wipro’s performance in the June 2009 quarter was good, with revenues falling between the range it had given in April 2009. The stock markets, however, seemed to have bargained for more, as the stock is down about 2%. Measured in constant currency terms, IT companies have reported modest performances in the June 2009 quarter, but when you translate them from currencies like pounds, euros and Australian dollars to USD and then to rupees, the effect can be quite significant.