Azim Premji to retire as executive chairman of Wipro

Software giant Wipro today announced that Azim Premji will be retiring from the company on July 30. Premji currently works as the executive chairman and managing director of the IT company.

Azim Premji will stay on as the non-executive director for a period of 5 years with effect from July 31, 2019. He has also been conferred the title of Founder Chairman of the Company, the company stated in a BSE filing.

The company acknowledged and approved the reappointment of Rishad A Premji, son of Azim Premji, as whole-Time director for a period of 5 years with effect from July 31, 2019, to July 30, 2024, in a meeting today.

The Wipro board also announced that chief executive officer and executive director Abidali Z. Neemuchwala will be re-designated as CEO and managing director. These changes will be effective on 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 stated in a statement.

Premji, a known philanthropist, is also informally called the Czar of the Indian IT Industry.

He has been listed as among the 100 most influential people by TIME Magazine, once in 2004 and again in 2011.