Wipro appoints NS Kannan, former ICICI Prudential MD & CEO, as independent director

Wipro Welcomes Former ICICI Prudential MD & CEO NS Kannan to Its Board

Wipro, a prominent player in the IT industry, has announced a significant addition to its Board of Directors. NS Kannan, a distinguished figure in the financial services sector, has been appointed as an independent director, with the appointment set to take effect from October 1, 2023, pending shareholder approval.

The Financial Expertise of NS Kannan:

NS Kannan's role as an independent director on Wipro's Board comes with a wealth of experience spanning over three decades in the realm of financial services, particularly banking and insurance. Notably, he recently concluded his tenure as the managing director and chief executive officer of ICICI Prudential Life Insurance Co. Ltd. Under his leadership, the company underwent a transformation into a multi-product and multi-channel entity, establishing itself as a dynamic player in the sector.

Leadership and Contributions: NS Kannan's Impactful Journey

Throughout his career, NS Kannan has assumed several leadership roles within the ICICI group. His expertise has extended beyond the corporate realm, as he has been an active participant in various committees formed by the Government of India and regulatory bodies.

Noteworthy roles include serving as an advisor for resolving DHFL as the First Financial Service provider under the Indian Bankruptcy Code, being a member of the Corporate Bonds and Securitization Advisory Committee of SEBI, chairing the Regulatory Review Committee established by Life & General Insurance Councils, and participating in committees instituted by IRDAI and RBI.

Endorsement by Wipro's Leadership: Rishad Premji's Perspective

Rishad Premji, Chairman of Wipro Limited, expressed his satisfaction with NS Kannan's inclusion on the Board. He highlighted the wealth of experience that Kannan brings to the table, ranging from finance and strategy to corporate governance and risk management. This integration of expertise is expected to drive Wipro's growth and operations forward.

NS Kannan's Outlook on Joining Wipro: A Vision for the Future

NS Kannan conveyed his enthusiasm and honor in becoming a part of Wipro's Board. He commended Wipro's reputation as an iconic, values-driven company that holds a pivotal role as a technology partner to esteemed global clients. His commitment to contributing to Wipro's progress and impact in its upcoming phases was evident in his statement.

Professional Background and Academic Accomplishments of NS Kannan

Professional Background

• NS Kannan is a veteran of the financial services industry with over 30 years of experience.

• He has held leadership positions in various banks and insurance companies, including ICICI Bank, ICICI Prudential Life Insurance, and ICICI Lombard General Insurance.

• He is a graduate in mechanical engineering from NIT, Trichy, and has a postgraduate diploma in management from IIM, Bangalore.

• He is also a chartered financial analyst (CFA).

Key Accomplishments

• Led ICICI Prudential Life Insurance's transformation into a multiproduct and multi-channel company.

• Played a key role in the company's growth and expansion, making it one of the leading life insurance companies in India.

• Instrumental in the development and implementation of several innovative products and services.

• Strong track record of driving growth and profitability.

• Experienced leader and strategic thinker.

• Well-respected figure in the financial services industry.

Latest Details and Facts

• Kannan was recently appointed as an independent director on the board of Wipro, effective from October 1, 2023.

• He is also a member of the Corporate Bonds and Securitization Advisory Committee of SEBI.

• He is the chairman of the Regulatory Review Committee formed by Life & General Insurance Councils.

• He is a member of the Insurance Advisory Committee constituted by IRDAI.

• He is a member of the RBI Steering Committee on the implementation of Indian Accounting Standards.

Kannan is a highly accomplished and experienced professional with a proven track record of success in the financial services industry. He is a valuable asset to any board of directors and will be a great addition to Wipro's board.

Conclusion: NS Kannan's Integration into Wipro's Vision

With NS Kannan's appointment to Wipro's Board, the company gains an accomplished leader whose financial services acumen and extensive contributions are set to enhance the strategic direction and growth trajectory of the organization. His background aligns well with Wipro's values and objectives, positioning him as a valuable asset in the pursuit of excellence.