Wipro founder Azim Premji to retire, son Rishad to take over

• Azim Premji, executive Chairman and Managing Director of Wipro, to retire by July.
• His son Rishad Premji will be taking over his post.
• Azim Premji had been the executive chairman of the IT company for 53 years.

Azim Premji, founder of Wipro, will be resigning from his post of executive chairman and Managing Director by July according to reports. His son Rishad Premji, who is currently on the board of Wipro and its Chief Strategy Officer, will be taking over as executive chairman.

Premji Senior will continue to be on the board of the company. He had served as the executive chairman of the IT giant for a long period of 53 years.

Meanwhile, a statement from the company also states that Abidali Neemuchwala, who has been the CEO of the company since February 2016, will also be the managing director of the company.

Azim Premji, who has been at the forefront of IT growth in India, is a graduate in Electrical Engineering from Stanford University. According to the company’s website, Premji is responsible for turning Wipro into a “$8.5 billion Revenue IT, BPO and R&D Services organization with a presence in 58 countries.”

Premji, who is also one of the biggest philanthropists in India, had founded the non-profit organization Azim Premji Foundation in 2001. In March, Premji also earmarked all of his economic benefits for philanthropy, setting aside 34% of Wipro shares worth $7.5 billion.

His total contribution to philanthropy now stands at a whopping $21 billion, including 67% of economic ownership of Wipro Limited.

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Azim Premji has now set aside $21 billion to charity, 67% of economic ownership of Wipro