MAM
Sharad Aggarwal takes over as CEO of Godfrey Phillips India
Mumbai: FMCG major Godfrey Phillips India Ltd (GPIL) on Tuesday announced the appointment of Sharad Aggarwal as chief executive officer of the company. He will be reporting to GPIL president and managing director Bina Modi.
The board of GPIL had met on 16 September and unanimously approved the appointment of Aggarwal, who is currently serving as the COO and whole time director of Godfrey Phillips, said the statement.
Aggarwal will be taking over from Bhisham Wadhera, who has been at the helm of the company from 2015, as he has demitted office on 26 December 2021. According to a media statement, Wadhera will continue to guide the organisation as an advisor and a mentor. “I am delighted with the appointment of Sharad as the CEO for Godfrey Phillips India; in last two years that I have worked closely with him, as a COO. Sharad has provided great value to Godfrey Phillips with an exceptional mix of strategic and people management skills, professional expertise and superior understanding of processes and technology,” shared Wadhera.
“Sharad has been with the organisation since 1994 and has exceptional credentials of delivering results. He has proven himself as an inspiring leader and led transformational changes in the organisation, and I firmly believe he is the right choice to unleash the potential, of Godfrey Phillips to the fullest, create sustainable business with sales and profit growth and value for all stakeholders,” said Bina Modi. “Sharad has shared his vision for the organisation that includes agility in adoption of technology, innovation and data science. He has the appropriate balance of Ggowth and P&L orientation. His people philosophy includes nurturing an inclusive and uniform culture of productivity and collaboration. He believes in furthering a sense of belongingness and ownership across the organisation. We will surely reach new heights under his dynamic and energetic leadership.”
Aggarwal is also the FICCI executive committee member, PHD Environment Committee’s core member, and serves as GMA’s governing council member, a body committed to local causes and development of Ghaziabad Industries and Institutions.
“I thank the board and Dr Modi to have vested this faith and confidence in me. With the support of my dynamic team, I am confident of fulfilling the expectations of leadership and the organisation,” commented Sharad Aggarwal. “I also take this opportunity to thank Mr Wadhera for his contribution that has helped the company reach scale new heights. I certainly have big shoes to fill.”
Aggarwal is an alumnus of the Harvard Business School. He also holds a degree in electronics from REC Nagpur, a post graduate diploma in business management with gold medal from IMT Ghaziabad and is also a certified six sigma black belt.
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
