Azim Premji and Rishad Premji Secured Five-Year Reappointment to Wipro Board

Azim H Premji and his son Rishad A Premji have been reappointed to the board of directors of Wipro Limited for a five-year term, starting from July 31, 2024, pending stakeholder approval. The announcement comes as Wipro reported an 8% decrease in consolidated net profit to Rs 2,835 crore for the quarter ending March 2024, compared to Rs 3,074 crore in the same period last year.

Azim Premji, who took over Wipro in the late 1960s, has been instrumental in building the IT services organization into a $11 billion revenue entity operating in 65 countries. He stepped down from executive duties in July 2019. Meanwhile, Rishad, who joined Wipro in 2007, has held various positions within the company and assumed the role of executive chairman in 2019.

During his tenure as Wipro’s chief strategy officer, Rishad spearheaded initiatives such as Wipro Ventures, a $250 million fund aimed at investing in startups developing technologies complementary to Wipro’s services. He also managed investor relations and government affairs for the IT giant.