IT giant Wipro Thursday announced that its founder Azim Premji will retire on July 30 after leading the company for 53 years. He will, however, continue to serve as non-executive Director and founder chairman.
Azim’s son Rishad Premji will be replacing him as the Executive Chairman, and Chief Executive Officer (CEO) Abidali Z Neemuchwala will take over as the new MD, the company said in a statement.
“Azim Premji, one of the pioneers of the Indian technology industry and founder of Wipro Limited, will retire as executive chairman upon the completion of his current term on July 30, 2019, after having led the company for 53 years. However, he will continue to serve on the board as a non-executive director and founder chairman,” Wipro said in a statement announcing shuffle in the top deck of the company.
Meanwhile, the IT major yesterday had said it would acquire US-based International TechneGroup Incorporated for USD 45 million (around Rs 312 crore). International TechneGroup Incorporated (ITI) provides Computer Aided Design and Product Lifecycle Management interoperability software services.