MAM
Vineet Taneja is now the CEO of Micromax
MUMBAI: Micromax, one of the leading smartphone player and consumer electronics brand, has roped in Vineet Taneja as its new chief executive officer. He was earlier the country head for IT & mobile businesses of Samsung India.
This move is a testimony to the vision and commitment of Micromax co-founders to bring in the best talent from the industry at the helm to build a strong organisation and steer Micromax through the next phase of growth by capitalising the immense opportunities in this environment of data devices explosion. Taneja will focus on consolidating Micromax’s strong presence in the market, driving global partnerships and strategic alliances while strengthening the organisational capabilities within Micromax.
Micromax co-founder Rahul Sharma said, “Vineet will be an asset in our next phase of growth, his diverse experience will be a great addition to the Micromax leadership in India both from organisational set-up and business growth perspective. Vineet is one of the most respected corporate leaders in the industry and has a great track record of successfully leading diverse brands across sectors.”
“I firmly believe that he will be a strong partner in our vision to be India’s first technology brand to leave an imprint at the global level. We look forward to working closely with Vineet and support him in this new journey,” added Sharma.
With an end-to-end P&L responsibility, Sharma is excited and ready to take upon his new work profile. Apart from leading company’s growth and profitability he will spearhead the transformational agenda of Micromax given the burgeoning opportunity in the devices space globally.
On his appointment Taneja said, “Micromax has been one of the great success stories in India’s mobile eco-system, and has pioneered the democratisation of technology for masses by addressing specific consumer needs with constant innovations. We are witnessing an inflection point in the smart devices globally. Therefore, it is a great opportunity for me to lead Micromax into its next phase of growth by consolidating and further strengthening its position in India, and looking at global markets to complete its transition of becoming a global force to reckon with.”
With over 25 years of experience, Taneja has worked with leading consumer brands like Hindustan Lever, Nokia and Bharti Airtel, prior to Samsung. From performing sales and marketing roles at HLL & Nokia to general management responsibilities at Bharti Airtel and Samsung, Taneja has evolved as a respected leader of the telecom industry.
Over the last decade Taneja has had the distinction of working for the service provider as well as the device companies giving him a comprehensive understanding of the telecom ecosystem including the OTT play. Taneja holds a degree in engineering from IIT-Roorkee and is also an alumnus of IIM-Kolkata.
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.
