Wipro's Battle: First 8 Years Old CFO Jatin Dalal Joins Cognizant, Followed by 10 Years Old Client Takeda Pharmaceutical's Shift to Cognizant
Wipro's business landscape as in September CFO Jatin Dalal made a strategic move to Cognizant, followed by the shift of major client Takeda Pharmaceutical
A few months back Wipro, witnessed the departure of its Chief Financial Officer (CFO), Jatin Dalal, to rival firm Cognizant, and now a significant client, Takeda Pharmaceutical.
In November, Wipro responded to Dalal's move by filing a lawsuit against him, seeking Rs 25.05 Crore in damages. The lawsuit, filed in the Bengaluru civil court on November 28, alleges that Dalal, in joining Cognizant as CFO, violated the non-compete clause of his contract with Wipro.
Adding to Wipro's challenges, on January 25th, Cognizant announced an expanded agreement with Takeda, a global biopharmaceutical giant. This move involves reinforcing and supporting Takeda's digital transformation strategy, signaling a shift in allegiance from Wipro to Cognizant.
It's noteworthy that in 2014, Wipro had secured a substantial $400 million (Rs 2,400 crore) deal with Takeda Pharma. Under this agreement, Wipro was entrusted with the responsibility of developing and supporting the IT requirements of Takeda, marking a significant partnership between the Indian IT giant and the prominent Japanese pharmaceutical company. The recent development with Cognizant signifies a notable change in Takeda's technology efforts and strategic alliances.
Wipro now faces the dual challenge of not only grappling with the loss of its CFO but also navigating the implications of losing a substantial client to a competitor. These developments underscore the competitive dynamics and strategic shifts within the IT industries.
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