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Verghese, who co-founded Olam nearly four decades ago, will relinquish his role as group CEO at the conclusion of the company’s annual meeting on April 27. He, however, will remain chief executive of Olam Agri, the food staples and grains division that is in the process of being sold to Saudi agricultural investment firm SALIC.Olam said on Friday that Chairman Lim Ah Doo will also step down, while CFO N Muthukumar will exit, joining Verghese to help run Olam Agri as the COO, which he has assumed since March 2025.
The food and agribusiness conglomerate will appoint Venkataraman Krishnan as its new group CFO, while Deputy Chair Yap Chee Keong will take over the chairman position.Wipro Deal
Olam Holdings, a unit of the Singapore food and agribusiness conglomerate, will sell 200 million ordinary shares of Mindsprint, its IT and digital services arm, to Wipro Networks, a unit of Wipro, Olam said in a statement on Monday.
Mindsprint provides technology, cybersecurity and digital services across sectors including food and agribusiness, manufacturing, retail and consumer packaged goods, as well as healthcare and life sciences.
Analysts at ICICI Securities said the transaction is Wipro’s largest acquisition to date and improves revenue visibility while strengthening Wipro’s consulting, platform and industry-specific capabilities in the food and agribusiness vertical.
The deal would add domain expertise, IP-led platforms and a captive delivery relationship, making the engagement more strategic and sticky than a traditional outsourcing arrangement, the brokerage said.
