Srinivas Pallia, the new chief executive of Wipro Ltd, will need to deal with a challenging business environment, shareholders who are getting impatient due to a delayed turnaround and sky-high expectations as he takes the baton when the $245-billion Indian IT industry is facing one of its toughest times.

Azim Premji’s flagship firm on Saturday announced the resignation of its CEO Thierry Delaporte just days ahead of its full year financial results. He had another 15 months of his tenure as CEO remaining.

Pallia, 56, a Wipro veteran of 30 years and CEO of its largest and fastest growth market Americas 1, took charge of the company on Sunday….