Rishad Premji Appointed as Wipro’s Executive Chairman

7th June 2019 | By Mouseworld Now Correspondent |

wipro-logoBangalore, India, June 7, 2019: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, has said that Rishad Premji, Chief Strategy Officer and Member of the Board, will take over as its Executive Chairman.

One of the early pioneers of the Indian IT industry and Wipro Founder Azim Premji will retire as Executive Chairman upon the completion of his current term on July 30, 2019, after being at the helms for 53 years.  However, Premji will continue to serve on the Board as Non-Executive Director and Founder Chairman.

On March 13th, Azim Premji  created history by earmarking economic benefits of about 34 percent of his shares in Wipro, worth $21 billion (Rs 52,750 crore) for his philanthropy foundation. With this, not only did Premji became India’s most generous billionaire, he also joined the ranks of the world’s top philanthropists.

Premji, who transformed a small hydrogenated cooking fat company to a USD 8.5 billion global IT powerhouse, led the transformation of Wipro Enterprises Limited into a global FMCG, Infrastructure Engineering and Medical Devices leader, with revenues of approximately USD 2 billion. He will remain as Chairman of Wipro Enterprises Limited and continue to Chair the Board of Wipro-GE Healthcare.

 

“We thank Azim for his vision, outstanding leadership and years of extraordinary contribution towards building Wipro and the Indian IT industry. His unflinching commitment to values makes him an exemplar of how business and ethics, can and must go together. His exceptional generosity makes him one of the greatest philanthropists of our time.” Ashok S. Ganguly, Independent Director and Chairman, Board Governance, Nomination and Compensation Committee, Wipro Limited.

 

Rishad’s understanding of the global technology industry, strong strategic orientation and diverse leadership experience make him the right person to guide Wipro. He is also best positioned to represent the interests and fundamental social purpose of the largest shareholder of Wipro,” said Ganguly on Rishad’s apointment.

 

Azim Premji 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. It has been a long and satisfying journey for me. As I look into the future, I plan to devote more time to focus on our philanthropic activities. I have great confidence and trust in Rishad’s leadership to steer Wipro in its next phase of growth as we move forward.”

 

“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.” said Chairman designate, Rishad Premji.

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