Bengaluru, June 6: Rishad Premji, who was Wipro Limited Chief Strategy Officer and board member, has been appointed Executive Chairman and succeds his father Azim Premji who is retiring on July 2019 after completion of his current term.
Azim, one of the pioneers of the Indian technology industry and founder of Wipro and led the company for 53 years, will however, continue to serve on the board as non-executive director and founder chairman, according to a statement here on Thursday.
The board has also announced that Chief Executive Officer and Executive Director Abidali Z. Neemuchwala will be re-designated as Chief Executive Officer and Managing Director.
These changes will be effective July 31, 2019, subject to shareholder approval.
Azim transformed a small hydrogenated cooking fat company to a $8.5-billion global IT powerhouse while also leading the transformation of Wipro Enterprises Limited into a global FMCG, infrastructure engineering and medical devices leader, with revenues of approximately $2 billion. He will remain chairman of Wipro Enterprises Limited and chair the Wipro-GE Healthcare board
Ashok S Ganguly, Independent Director and Chairman, Board Governance, Nomination and Compensation Committee, Wipro Limited said, “We thank Azim for his vision, outstanding leadership and years of extraordinary contribution towards building Wipro and the Indian IT industry… Rishad’s understanding of the global technology industry, strong strategic orientation and diverse leadership experience make him the right person to guide Wipro."
Azim said, “I wish to thank generations of Wiproites and their families for their contribution towards building our company to what it is today. I am grateful to our clients, partners, and other stakeholders who have reposed trust and confidence in us."
Rishad said, “I am humbled and honoured to be invited to chair the board of Wipro Limited, a company that has over decades demonstrated that success can be built on the foundation of strong values and uncompromising integrity. This is a testament to the spirit and dedication of thousands of Wiproites.". (UNI)