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News >
Ajim Premji's son Rishad to join in Wipro |
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The eldest son of software baron and Wipro
Chairman Azim Premji is following in his father's footsteps and
has decided to join Wipro.
"Rishad Premji is going to join Wipro at a level commensurate
with his background and experience," a Wipro statement was
quoted by a leading news agency as saying.
The move is being seen as a signal of eventual succession plans
at India's third-largest software services exporter. |
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However,
the company insists that he is being inducted as an “employee,
not as a successor” to his father.
Nevertheless, with Premji turning 61 next month, the
announcement has fuelled speculation over his succession plans.
A spokeswoman said Rishad currently works with a global
consultancy firm in Europe. Because Rishad Premji is a relative
of a director, his employment required shareholder approval, the
statement said.
Having graduated from Wesleyan University in the US, Rishad
worked briefly with General Electric before getting himself a
management degree from Harvard and joining the consulting firm
of Bain & Co in #London.
His joining has been approved by the Board and is subject to
shareholder approval,it said, adding,this was required
statutorily because he is a relative of a director.
IT czar Azim Premji,who holds about 80 per cent of stock in
Wipro, had joined the company, then known as Western India
Vegetable Oils company, at the age of 21 after his father's
sudden demise in 1966
New York-listed Wipro, which provides IT solutions and services
such as system integration, software application development and
maintenance, has minor interests in computer hardware and
consumer goods such as lighting and soaps.
Courtesy: IBNLIVE |
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