Wipro Bolsters Local Leadership to Drive Growth in Continental Europe
FRANKFURT, Germany and BANGALORE, India, November 15, 2013 /PRNewswire/ --
Appoints Ulrich Meister as Head of Continental Europe
Wipro Ltd. (NYSE: WIT), a leading information technology, consulting and outsourcing company today announced the appointment of Ulrich Meister as Senior Vice President and Head of Continental Europe, effective November, 2013.
Ulrich joins Wipro from T-Systems, where he started in 2005, and in his last role was responsible for their global Euro 2 billion system integration business. He has immense expertise in managing large-scale strategic change programs for companies across the globe. Ulrich began his career with the financial services industry and spent the first 20 years in leadership positions with Deutsche Bank and Landesbank Hessen-Thüringen. Ulrich was also a Member on the Board of T-systems.
In his role, Ulrich would have the charter to define strategy for each of the markets within Continental Europe and grow the business exponentially over the coming years. He will continue to build on Wipro's localization approach, drive marketing and brand investments in the geographies, and explore potential inorganic growth opportunities.
Ulrich Meister will be based in Frankfurt, Germany and will report to TK Kurien, CEO and Member of the Board, Wipro Ltd.
"Continental Europe currently represents a significant share of our global revenues and companies in the region are more keen to consider global sourcing than ever before. We have already enhanced our focus on key markets like Germany, France and the Nordic region - driving customer centricity and local decision making. We are encouraged by the prospects and are confident that Ulrich in his new role will lead Wipro's next wave of growth in these geographies," said TK Kurien, CEO and Member of the Board, Wipro Ltd.
Wipro has made strategic investments in the Continental European market, both organic and inorganic, for more than a decade. The company has significantly built its local presence and nearly 50% of its employees in the region have been hired locally. This includes all of Wipro's country heads in the region. Wipro has also started engaging with local universities and business schools in the region for its graduate training program.
About Wipro Ltd.
Wipro Ltd. (NYSE: WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of 140,000 serving clients across 57 countries. For more information, please visit http://www.wipro.com.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at http://www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
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