Bangalore: Wipro Limited today announced the appointment of T K Kurien as the Chief Executive Officer of the Information Technology business and Executive Director of the company.

Girish Paranjpe and Suresh Vaswani, the current Joint CEOs of the IT business have decided to step down from their responsibilities effective February 1, 2011. Acknowledging their contribution, Mr. Premji said, “Suresh Vaswani and Girish Paranjpe have been with Wipro for the past 20+ years and been an integral part of the Wipro leadership team. They have made significant contribution to the company in the critical years of its expansion and played a stellar role in the success of the IT Business. I want to personally thank them for their contributions to Wipro and wish them the very best in their future endeavors.”

Commenting on the appointment of Kurien, Azim Premji, Chairman Wipro Limited said, “The Joint CEO structure was one of the key factors that successfully helped us navigate the worst economic crisis of our times. With the change in environment, there is a need for a simpler organization structure. Over the last 10 years, Kurien has been instrumental in building and scaling many of our businesses successfully. His track record with customers, passion for excellence coupled with strategic thinking and rigor in execution makes him uniquely positioned to lead Wipro’s IT business through the next phase of growth.”

Girish Paranjpe said, “It’s been an exciting time as we navigated together through a tough environment over the past 3 years. Wipro has been an amazing place for learning and growth. Building Wipro’s Financial Solutions business to a billion dollar plus business , contributing to building a strong Consulting business and, earlier as CFO, putting together processes in Consumer Care as well as IT businesses that have lasted for decades are milestones that I will cherish. Personally and professionally this has been a wonderful journey”.

Suresh Vaswani said, “The success we had in transforming while performing in the last three years was particularly satisfying. Wipro has given me opportunities to contribute in multiple roles over the last couple of decades. I am particularly proud of having nurtured Service lines such as Technology Infrastructure Services, Enterprise Application Services, Business Process Outsourcing and Testing to leadership positions globally and building Wipro as the undisputed leader in the India & Middle Eastern market. It’s heartening to have built these strong growth platforms that will drive the future growth of Wipro.”

Both joined in expressing their gratitude to all colleagues and customers for their support over the years and wished Wipro and Kurien all the very best for future.

Girish Paranjpe, Suresh Vaswani and T K Kurien will work together through quarter ending March 31, 2011 to ensure a smooth transition.