Executive Chairman of Wipro, Azim Premji declares his retirement
Azim Premji, founder of Wipro announces his retirement from the company and his son will take in charge for the coming years. Azim Premji has developed the company over fifty years as one of the country’s biggest technology service organisation. He is 74 years old and gives up his role as chairman and managing director but he will remain as founder chairman and director of the board. Rishad Premji, his eldest son will take the charge of chairman and Abidali Neemuchwal, the chief executive officer will be the managing director of the company.
“It has been a long and satisfying journey for me,” said Premji, founder, Wipro who secured ET’sLifetime Achievement Award. “As I look into the future, I plan to devote more time to focus on our philanthropic activities.” “Wipro was started by my father Hasham Premji.
I think where I contributed was to expand the existing product range and diversification.” “What inspired me was a mission to do better than what we were doing in the past and grow much faster than how we grew in the past.” He added.
Premji expanded the business and engaged on constructing a technology project in both software and hardware. The business of software services, which has been undertaking to get back the lost ground in coming years, produced $8.5 billion yearly revenue previous year.
“We thank Azim for his vision, outstanding leadership and years of extraordinary contribution towards building Wipro and the Indian IT industry,” said Ashok S Ganguly, independent director and chairman, board governance, Wipro Ltd. “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.”
Premji is a business investor, philanthropist, engineer and is the chairman of Wipro Limited. He is familiarly recognized as the Czar of the IT industry in India. He was acknowledged as one of the supreme tycoons of being accountable for Wipro evolving as one of the world’s rapid increasing companies.
“All his life, the single mission for Premji was making Wipro successful. For him, Wipro was everything,” said Sridhar Mitta, founder and managing director of NextWealth. “When people had criticised him on retaining 85% stake in Wipro, his answer was: I don’t want somebody coming and hampering growth.”