MAM
Wipro names Abidali Neemuchwala as new CEO
NEW DELHI: Information technology services provider Wipro has appointed Abidali Z Neemuchwala as the new CEO.
Prior to this, he was group president and chief operating officer of Wipro for the past nine months. At present, he is not on the board of Wipro.
A Tata Consultancy Services veteran, Neemuchwala worked for 23 years in leadership roles.
The Bangalore-based Wipro said current CEO TK Kurien will become the executive vice chairman and will be a member of Wipro board till March 2017.
A spokesperson of Wipro told Indiantelevision.com that the aim was to ensure smooth transition of executive powers to the new CEO.
Neemuchwala will handle the mandate to take Wipro through the next phase of growth.
Wipro chairman Azim Premji said, “As executive vice chairman, Kurien will enable Abid by leveraging his deep relationships with customers and chart out a new technology roadmap for Wipro.”
Premji said Neemuchwala has effortlessly assimilated into the culture and ethos of Wipro in his nine months as the group president and chief operating officer.
Kurien will continue to report to Premji and will remain a member of the Wipro Board until 31 March, 2017.
“I am convinced that we are well positioned to seize new opportunities in today’s marketplace. I look forward to working with the thousands of Wiproites to take our company to greater heights,” said Neemuchwala.
Both Kurien and Neemuchwala will be on the Board of the company. Both these appointments are effective 1 February, 2016.
Neemuchwala came to Wipro as the group president and COO from 1 April, 2015 from TCS, He has been handling the service lines of global infrastructure services, business application services, business process services, and advanced technology solutions. He will also head business operations; the geographies comprising Continental Europe, Africa, and LATAM; strategic engagements, advisor relationships as well as the marketing function.
An Electronics & Communication engineer from NIT, Raipur, with a Masters in Industrial Management from IIT, Mumbai, Neemuchwala has experience in business and technology operations, process, and consulting.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
