Former joint CEO of Wipro?s IT Services Suresh Vaswani is trading hot on the executive job market with large multinational technology firms, mid-tier companies and even private equity firms wooing him. Vaswani, sources said, has at least four to five offers to juggle with ? one of them reportedly from the world?s largest software product firm, Microsoft.
Sources who did not want to be identified said Vaswani is in early stage of discussions with Microsoft. The software product firm is looking for a replacement for the chairman of its Indian unit, Ravi Venkatesan, who quit in February this year after a seven-year stint.
Vaswani?s knowledge of the India market and contacts in the government as well as other key sectors such as telecom and banking make him a strong candidate for the coveted post.
When FE approached, Vaswani indicated he would ?get in touch in a few weeks?. Microsoft said that it would be naming a successor to Ravi Venkatesan in the near future and ?would not like to comment on speculation.?
India?s third largest IT services firm Wipro had surprised the corporate world by replacing joint CEOs Vaswani and Girish Paranjpe with another company veteran, TK Kurien, on January 22. Executive talent search companies have been on the prowl ever since. Vaswani, sources said, has taken up an office in Bangalore?s MG Road to meet people and former employees.
Vaswani?s colleagues at Wipro, friends and analysts said that the former CEO?s networking and marketing capabilities would make him hot property for many companies. ?He would be an ideal fit in large MNCs that don?t have a significant presence in India ? companies that are late starters such as Fujitsu, Atos and Steria. These companies are globally strong but have not done enough in India. They could benefit from Vaswani?s strong domestic expertise,? a market watcher noted.?
A second category of companies that would benefit from Vaswani would be the mid-tier firms where CMDs manage both the board and day to day operations. ?Vaswani can bring in more credibility to such organisations,? the analysts noted.
The third category of firms looking to hire the former CEO are large multinationals with a strong India presence but who have suffered leadership losses off late. Microsoft fits in here. Vaswani, sources said, would not be a ?dummy? chairman and can bring to Microsoft almost all the capabilities that Ravi Venkatesan had.
Venkatesan provided a single point of leadership for the company?s six different business units in India and played a significant role in interfacing with policy makers, customers and business partners.
Though large PE firms have reportedly shown interest in Vaswani, people who know the two former CEOs well, said Girish Paranjpe is more suited to lead such a firm. At Wipro, he was the back room boy who was strong in planning and number crunching.