New Delhi: IT czar Azim H Premji, about to retire as the executive chairman of Wipro, said on Thursday that running the company had been the greatest privilege of his life and expressed confidence that his son would rise to greater heights will bring.
Premji will leave the baton to his son Rishad in late July after leading the charge at the company for more than five decades.
However, he remains a member of the board for five years until July 2024 as a non-executive director and has also been awarded the title of founder-chairman. Rishad, is currently chief strategy officer and a board member of Wipro.
In a message to employees, Premji expressed the confidence that Wipro will constantly transform to reach new heights as the world changes, but will continue to hold on to its values with determination.
"I am confident that the future of Wipro far exceeds everything we have done before," he said, adding that Rishad brought forward new ways of thinking, experience and competence that would lead Wipro to greater heights.
The Wipro board also announced that chief executive officer and executive director Abidali Z Neemuchwala will be reappointed as CEO and managing director, while Rishad Premji will be re-appointed as a full-time director for a five-year period starting July 31, 2019, until July 30, 2024. Rishad will be appointed as executive chairman.
"Rishad and Abid will lead this transformation with you all," Premji said.
Rishad, he said, has been an integral part of the leadership team since 2007 and has an in-depth understanding of the company, from operations to strategy.
"Rishad will continue to serve on the board of the Azim Premji Foundation, the philanthropic organization, which now owns 67 percent of the economic interest of Wipro Limited, and therefore will represent Wipro's largest stakeholder in its new role," Premji said.
In a separate message to employees after the company announced the top-level changes, Rishad said the future will look good for Wipro whose greatest strength is the people.
"Over the last 53 years, Premji has led and built from a small company in Amalner for this globally successful and admired organization that we are today, but his contribution and achievements go beyond the success of Wipro. He is one of the global pioneers of the IT industry, "said Rashid.
Rishad said his father has reformed the world of Indian business, showing that success can be achieved with unwavering commitment to integrity.
"When he retires, leaving this great legacy in our hands is just one way to thank him and express our gratitude, we must constantly take Wipro to new heights. We must take new paths and conquer new boundaries while we are consolidating our strengths …, "said Rishad.
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