CIO Insider

CIOInsider India Magazine

Separator

Wipro Reappoints Azim Premji, Rishad Premji for Five Years

CIO Insider Team | Saturday, 20 April, 2024
Separator

The board of directors has reappointed Rishad Premji and Azim Premji for a period of five years, announced the IT services company Wipro Ltd.

Prior to being named executive chairman of Wipro in 2019, Rishad joined the company in 2007 and held a number of positions.

He began his career at Wipro as a general manager in the banking and financial services division.

He then rose to the position of head of investor relations before taking over as head of strategy and M&A.

Wipro announced the "re-appointment of Mr. Rishad A. Premji as Whole-Time Director designated as Executive Chairman for a period of 5 years with effect from July 31, 2024, to July 30, 2029," as per a stock exchange filing.

In his capacity as chief strategy officer of Wipro, Rishad created the $250 million Wipro Ventures fund, which is used to finance entrepreneurs creating cutting-edge products and services that enhance Wipro's operations.

He was also in charge of the company's connections with the government and investors.

With Premji at the helm, the other Wipro group companies now generate almost $2 billion in sales across consumer goods, precision engineering, and healthcare systems.

Rishad serves on the boards of the Azim Premji Foundation, one of the biggest not-for-profit organizations in India, Wipro-GE, a joint healthcare venture between Wipro and General Electric, and Wipro Enterprises Ltd., a major player in FMCG and infrastructure engineering.

Wipro also said it has reappointed “Azim H. Premji as Non-Executive, NonIndependent Director for a period of 5 years with effect from July 31, 2024 to July 30, 2029.”

In the late 1960s, Wipro's leadership was assumed by Azim Premji. He expanded on a $2 million hydrogenated cooking oil company by acquiring other companies, resulting in a $10.5 billion IT services company with operations in 65 nations.

With Premji at the helm, the other Wipro group companies now generate almost $2 billion in sales across consumer goods, precision engineering, and healthcare systems.

In July 2019, Azim Premji left his leadership position at Wipro to concentrate on the foundation's charitable endeavors. He is an electrical engineering graduate of Stanford University in the US.

Yasmeen, Premji's wife, is one of the members of the Premji family who collectively possess 4.43 percent of Wipro (0.05 percent). Combined, the promoter group owns roughly 72.9 percent of the IT company.

Current Issue
Ace Micromatic : Pioneering Excellence in Comprehensive Manufacturing Solutions