The resignation of Chief Executive Raman Roy on June 6 sent a tremor through India's No. 2 back office and call center outsourcer, Wipro BPO (WIT ). The entrepreneurial Roy is considered the father of Indian outsourcing, having started American Express Co.'s (AXP ) pioneering Indian operation and then worked for General Electric Co. (GE ) before starting his own operation, which software giant Wipro acquired in 2002. Now, after building Wipro BPO into a $150 million business, Roy wants to launch another company, although he hasn't revealed details. "It has been a great roller coaster ride, but there's a lot more to be done," he says. Wipro has tapped in-house veteran T.K. Kurien, who oversaw financial services at Wipro BPO, as new CEO. His first task will be to stanch attrition at the company, where employee turnover runs above the industry average. India's outsourcing industry is growing 50% annually, and newcomers are poaching qualified staff.
Edited by Rose Brady