New Delhi: IT giant Wipro giving way to next generation, Wipro founder Azim H Premji is going to retire as executive chairman of the company and his son Rishad Premji to be led Wipro.
After completion of Premji’s current term in July 30, he will retire but continue as a non-executive director for five years till July 2024. Rishad Premji will be re-appointed as new director with effect from July. “Azim Premji, one of the pioneers of the Indian technology industry and founder of Wipro Limited will retire as executive chairman upon the completion of his current term on July 30, 2019 after having led the company for 53 years.
However, he will continue to serve on the board as non-executive director and founder chairman,” Wipro explained in a statement. Seventy four year old, I T tycoon, Azim Premji starts his business journey with a small vegetable oil maker. India’s second richest man, Azim Premji ‘s Wipro has a turnover of USD 8.5 billion. Premji, himself wants the retirement for carrying out more philanthropic activities.