Wipro, India’s third-largest software services exporter, has taken legal action against its former Chief Financial Officer, Jatin Dalal, in the Bengaluru civil court. In response, Dalal has swiftly filed an application asking the court to refer the matter to arbitration. The specific reasons prompting the lawsuit remain unclear.
Both Wipro, headquartered in Bengaluru, and its ex-CFO have presented their cases in the legal dispute. The next hearing is slated for January 3, during which the court will determine whether the disagreement should be resolved through arbitration as an alternative avenue for conflict resolution. Wipro announced Dalal’s resignation as CFO in September through a regulatory filing, appointing Aparna Iyer as the new CFO. Iyer will report to CEO Thierry Delaporte and will be part of Wipro’s executive board.
Dalal, a 21-year veteran at Wipro who served as CFO since 2015, officially departed the company on November 30. Subsequently, in September, IT services firm Cognizant Technology named Dalal as its CFO, succeeding Jan Siegmund, who intends to retire in early 2024. Siegmund will aid in a smooth transition by remaining with the company as a non-executive officer and special advisor following Dalal’s assumption of the CFO role, reporting to Cognizant’s CEO, S Ravi Kumar.
In addition, Wipro has lodged a complaint against its former senior executive, Mohd Haque, alleging a violation of a non-compete clause in his employment contract. Haque, previously the Senior Vice President (SVP) overseeing healthcare and medical devices for the Americas at Wipro, left to become the Senior Vice President and Business Unit Head for life sciences at Cognizant.
Have you read?
Trust Begins with You.
The Inter-Generational CEO – An Illustrative Case Study.
Jinko Solar: Revolutionizing Solar Energy With Eagle Modules and Eagle Storage.
Preparing for a Successful 2024: End-of-Year Activities for CEOs and Their Teams.
How Secure Act 2.0 Tax Laws Impact Retirement Planning and Income: Insights from Timothy Roberts & Associates LLC.
Two Strategic Investors Collaborate With Glenn Lurie and Other Partners at Stormbreaker Ventures.
Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
