Wipro founder chairman Azim H Premji to retire by the end of July

Guwahati: Indian multinational corporation Wipro is to taste one of the biggest changes in the coming month as the founder of the IT Major Azim H Premji is scheduled to retire from the organization as its executive chairman and managing director (MD). A father figure for the organization, Premji’s absence from the company will surely hit Wipro heavily as it was under his guidance, support and nurturing that the IT Company has been able to reach the heights of success.

Notably, Azim Premji’s current term will be completed on July 30, 2019, and with this term finishing, he will also bid farewell to the company. Premji has been associated with the company for the last 53 years. Although this will be a formal retirement from the position of executive chairman, Premji will continue to deliver his service on the board as a non-executive director and founder chairman.

Along with the announcement of the retirement of Premji, Wipro has also announced that chief executive officer and executive director Abidali Z. Neemuchwala will be re-designated as CEO and managing director. The new changes in the top positions of the company will be effective on July 31, 2019, subject to shareholder approval.

Making a statement in this regard, Azim Premji said, "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."

Remarkably, it was Azim Premji, who transformed a small hydrogenated cooking fat company to an IT giant worth $8.5 billion. He will, however, not bid a final farewell to the company and will remain the chairman of Wipro Enterprises Limited and the board of Wipro-GE Healthcare.

Also read: Wipro net grows 12.4% for fiscal 2018-19