Wipro's Exodus Saga: Leadership, Clients, and Guidance

As reported by moneycontrol.com Chandra R. Srikanth, Wipro observed 9 top level exits in YTD CY'23. Some of these exits with probable reasons :-

👉 Ex-VP, Marketing moved on to become CMO [higher autonomy] at Persistent Systems [higher growth trajectory and strong guidance]

👉 Ex-President, Digital and Consulting moved on to become CEO [strong leadership alignment] at CitiusTech [higher growth trajectory]

👉 Ex-CFO, Americas 2 moved on to become CFO [similar autonomy but newly assembled C-suite] at Xoriant (got new CEO from HCLTech) [PE backing led growth]

....and others

🔔 While Infosys and HCLTech have also observed significant top level exits, Wipro seems to be facing a series of exits across board which undermines new client win capability (which causes CEO to say "Expect whole year to be challenging - no signs of improvement in second half as well"; other players do expect improvements in second half)

🔔 This has caused them to mute the guidance for coming quarter (-1% to 2%) while slowing sequentially in Q1'FY24 by 6.6%.

👉 In a nutshell, key reasons for the exit appear to be loss of key clients, slowing growth, leadership misalignment (multiple business re-orgs) and certain high profile exits causing domino effect

What is your take and recently Tata Consultancy Services has been in limelight for such re-orgs, is similar fate expected there as well ?