Business analysts see that the departure of Abidali Z Neemuchwala on Friday from the CEO chair of Wipro will lead more active for Rishad Premji, son of outsourcing industry pioneer Azim Premji.
As far as Wipro is concerned, the last four years were not rosy. During this period, Indian IT services giant fell farther behind rivals Infosys and Tata Consultancy Services (TCS). Wipro’s growth was stalled these years.
Neemuchwala’s stepping down was the result of growing dissatisfaction with Wipro's inability to close the gap with Infosys and TCS. While Neemuchwala at the helm of the company, only a 13% rise happened in Wipro's stock. But it is far lower comparing with Infosys Ltd.'s 33% and Tata Consultancy Services Ltd.'s 78% rally over the same period.
For the last many months the opinion was more strong about a leadership change in Wipro to take Wipro the next. Like the rest of India's IT industry, Wipro has struggled to adapt to a slowdown in growth in recent years and rising scrutiny in the US, their largest market. Clients have turned to automation and cloud services, eschewing the more labour-intensive work that India's largest IT firms specialized in.