Wipro founder Azim Premji would retire as executive chairman and managing director (MD) of the company by the end of July, the company said in a statement.
After leading the giant IT tycoon for 53 years, Azim Premji will retire as executive chairman upon the completion of his current term on July 30, 2019 , Wipro said in a filing to BSE. However, he will continue to serve on the board as non-executive director and founder chairman.
Wipro in its statement said that Rishad Premji, Chief Strategy Officer and Member of the Board, will take over as the Executive Chairman of the company. Rishad has been re-appointed as a whole-Time Director for a period of 5 years with effect from July 31, 2019 to July 30, 2024.
Abidali Z. Neemuchwala will be re-designated as CEO and managing director (MD), the board announced. He is currently serving as the chief executive officer and executive director. These changes will be effective July 31, 2019, subject to shareholder approval.
“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,” Azim Premji said in a statement.
Azim Premji, known as one of the greatest philanthropists, is responsible for guiding Wipro through four decades of diversification and growth to finally emerge as one of the global leaders in the software industry. He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011.