The majority of Wipro's public shareholders are against the $4.33 million severance package for former CEO Delaporte.

According to a regulatory filing by Wipro, over three-fourths of its public shareholders voted against the $4.33 million (approximately Rs 36.15 crore) cash severance package for former CEO Thierry Delaporte. Specifically, 78.4% of Wipro's public shareholders, representing 10.31% of the total shareholder base, opposed the severance payment, as per voting records published on the Bombay Stock Exchange (BSE) website.

Despite this opposition from public shareholders, the resolution to award Delaporte the severance package was approved due to the significant 73% promoter holding in Wipro. This promoter backing resulted in an overall 89.69% vote in favor of the compensation for Delaporte, who stepped down from his position in April, a year before completing his five-year term as the leader of India's fourth-largest IT services company.

Upon his resignation, Wipro announced the $4.33 million severance for Delaporte, which is considered the largest cash severance ever given to an outgoing executive at the firm. In the fiscal year 2024, Delaporte's earnings exceeded $20 million (approximately Rs 166 crore), making him the highest-paid CEO in India's IT industry for the second consecutive year.

In a recent filing with the US Securities and Exchange Commission, Wipro detailed Delaporte's earnings, which included over $3.9 million in salary and allowances, more than $5 million in commission/variable pay, nearly $7 million categorized as other compensation, and the $4.33 million long-term compensation.

Furthermore, Wipro's shareholders approved the appointment of Srinivas Pallia as the new CEO and managing director of the company, as stated in the BSE filing.