The czar of Indian IT industry, Azim Premji, having a net worth of 510 crores, will be retiring from the company Wipro, which he founded and worked in there for 53 years with passion. He will retire as the executive chairmen and managing director, on Thursday, due to the pause of his term on 31st July 2019. He will now, work for the company as founder chairmen and non-executive director. The son of Prem Ji, whose name is Rishad(Chief Strategic Officer and member of the board), will take over the charge as the executive chairmen.
Premji created a small hydrogenated cooking fat company into a global IT Powerhouse of worth $8.5 billion and also led to the evolvement of Wipro Enterprises Limited into an FMCG(Fast-moving Consumer Goods), infrastructure engineering and medical devices leader with revenues connected to the worth of $2 billion. The honorable man will even serve the board of Wipro-GE health care. Ashok S Ganguly, independent director and chairman, board governance, nomination, and compensation committee, Wipro Limited expressed his gratitude to Azim Premji for his vision, outstanding leadership, persistence, dedication, consistency and years of commendable contribution towards the establishment of Wipro and the Indian IT industry.
His unflinching commitment to values makes him an exemplar of how business and ethics, can and must go together, Ganguly added, His exceptional generosity makes him one of the greatest philanthropists of our time. “Rishad’s understanding of the global technology industry, strong strategic orientation and diverse leadership experience make him the right person to guide Wipro.”,Ganguly added, “He is also best positioned to represent the interests and fundamental social purpose of the largest shareholder of Wipro.” “I am very excited about our future and the opportunity to create value for all our stakeholders in these transformative technologies for Wipro and technological industry. I look forward to their trust, collaboration and support” Rishad said, “I am humbled and honored to be invited to chair the board of Wipro Limited, a company that has over decades demonstrated that success can be built on the foundation of strong values and uncompromising and powerful integrity”.
Azim Premji expresses his gratitude towards the workers of the company and their families for their irreplaceable contribution towards the development of the company. He is thankful to his stakeholders, clients, and partners for their unbreakable belief and confidence in him and his strategies. He claims that his journey of work till now was decently smooth and engrossed in the space of satisfaction.
As now he will be more inclined towards philanthropic activities. He says that he has great trust and confidence in son, that Rishad(his son), would be able to make the growth of the company consistent. so eventually we can say that Wipro, an Indian multinational corporation that provides, information technology, consulting and business process services, will have a new face for its further nourishment and growth now.