Wipro loses outsourcing supremo
Indian technology firm Wipro is losing its second executive in a month, as its president heads for a US private equity firm.
Vivek Paul, who is also vice-chairman and has a home in the US, is joining Texas Pacific Group as a partner in its venture capital operation.
The firm made its name as a provider of outsourced services to Western firms.
The departure of Mr Paul in September follows that of Raman Roy, head of the company's back-office services unit.
The move to Texas Pacific and its Asia-focused venture capital unit Newbridge Capital was spurred by a wish for new opportunities, Mr Paul said.
Shake-up
Mr Paul, now 45, was hired in 1999 from General Electric.
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Over that time, Wipro's revenues have grown more than tenfold to almost $1.9bn (£1.05bn) a year.
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With Mr Roy - who ran the firm's call centre business - he was responsible for leading the company's push into providing services for Western corporations.
In response to the announcement, Wipro - the third-largest software firm in India - said it planned to eliminate the post of president and vice-chairman as part of a management shake-up.
The chairman, Azim Premji, owns 84% of Wipro.