IT services major Wipro Limited has appointed former MD of HDFC Life Ltd, Deepak M Satwalekar, to its Board of Directors for five years effective July 1. The appointment is subject to the approval of the shareholders.
Rishad Premji, Chairman, Wipro Limited stated, “With his deep repository of knowledge spanning across the financial services sector, sharp business acumen, understanding of technology and as a strong votary of the highest standards of corporate governance, his invaluable experience will immensely benefit Wipro.”
Satwalekar has been the Managing Director of HDFC Ltd and later the Managing Director and CEO of HDFC Standard Life Insurance Co. Ltd. He has also been a consultant to the World Bank, the Asian Development Bank, the United States Agency for International Development (USAID) and the United Nations Human Settlements Programme (UN-HABITAT).
In his new role, he will serve as an Independent Director on the board. Wipro is banking on the wealth of experience that he brings, having spent over four decades in the financial services industry and as an advisor and Board member of companies from diverse industries.
Satwalekar’s appointment follows another top helm appointment at the company with Thierry Delaporte joining the Indian multinational corporation as the Chief Executive Officer and Managing Director. Until recently, Delaporte was working with Capgemini Group as the Chief Operating Officer and was also a member of its Group Executive Board.