Wipro appoints Rishad Premji to its board

Elder son of chief Azim Premji will continue his executive functions

Wipro, India’s third-largest information technology (IT) services company, on Tuesday announced the appointment of Rishad Premji to its board, a move which was widely anticipated to happen sooner than later. His appointment will be effective from May.

Rishad, the elder son of the company’s billionaire chairman and largest shareholder, Azim, is presently the chief strategy officer and the head of mergers and acquisitions in the Bengaluru-based company, as a part of which he is also responsible for overseeing the office of the chief technology officer, investors and government relations. He also is responsible for Wipro Ventures, the $100-million corporate venture arm set up with an aim of investing in start-ups. A graduate in economics from Wesleyan University, US, and an MBA-holder from the Harvard University,  US, Rishad had joined Wipro in June 2007, initially as a business manager in the banking and financial services division. Before joining Wipro, he had stints at Bain & Company for two years and at GE Capital for four years.   

“He brings a blend of strategic insights, understanding of the technology landscape and diverse business expertise. Eight years have given Rishad an in-depth view of the organisation and makes him well-positioned to guide Wipro and carry the mantle of ownership,” said Ashok S Ganguly, independent director and chairman, board governance and nomination committee, Wipro.   

Last month, Business Standard had reported that the company was expected to announce Rishad's appointment on to the board, on the ongoing quarter.

“It is absolutely privilege and honour to be invited to the Board of Wipro, a company built over the past 70 years on the bedrock of uncompromising integrity and the hard work of thousands of Wiproites,” Rishad said in a statement.

Azim Premji who currently holds 73.39 in Wipro has already stated that Rishad is going to succeed him in the board to protect the promoters’ interest eventually.