Wipro / Azim Premji retires next month, retains control for 53 years

New Delhi. A retirement announcement from the company of Wipro executive chairman Azim Premji (Azim Premji) has been announced. His tenure will end on July 30, 2019, and after that, his son Rishad Premji will become the executive chairman. The company gave this information through stock exchange filing. It is worth mentioning that Wipro is the country’s third largest IT company with a market cap of 1.76 lakh crore.

Retires at the end of July

Wipro said through a statement that Azim Premji would retire as the company’s executive chairman and managing director till the end of July. In the hands of Premji, for about 53 years, the company was the command. Although he will continue to serve on the company’s board as a non-executive director and founder chairman.

Changes will be effective from July 31

Wipro’s board announced that Chief Executive Officer and Executive Director Abidally Z Neemuchwala has been appointed CEO and Managing Director of the company. All these changes will be effective from July 31, 2019. However, these changes need to be approved by the shareholders.

Rishad’s full faith in the leadership: Azim Premji

Azim Premji said in a statement, “This is a long and satisfying journey for me. If I talk about the future, then I have planned to spend most of my time in activities related to social work. I have full faith in Rishad’s leadership, who will take the company to the next stage. ” 
Azim Premji transformed the small hydrogenated cooking fat company into a global company with a turnover of $ 8.5 billion. However, Premji will remain Chairman of Wipro Enterprises Limited and Chairman of the Department of Vapri-GE Healthcare Limited.

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