Billionaire businessmen Mukesh Ambani and Azim Premji will be meeting US President Barack Obama on Friday.
Wipro has once again chosen to bet on an insider who has grown through the ranks to lead the company. Srini Pallia has spent over three-decades at Wipro and it's the only company he has ever worked with. Till now, Pallia was heading the Americas-1 unit.
Many analysts say the management structure was faulty, as the model can work at best as a stop-gap arrangement.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
IT service company Wipro on Friday reported 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains "uncertain". The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new chief executive officer, has given an IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.
The Wipro chief's speech at the 'Shaping Young Minds Program' organised by the All India Management Association in collaboration with the Bombay Management Association BMA) on February 9, 2004 at NCPA in Mumbai.
Wipro Chairman Azim Premji on Thursday came out strongly against the idea of formulating laws on mandatory spending by industry on corporate social responsibility.
An MBA from Harvard Business School with work experiences in global firms like Bain Consulting and GE, Rishad joined Wipro in July 2007 as a business manager in the banking and finance division.
Noted industrialist Azim Premji, who was named for the coveted Padma Vibhushan this year, has said he is 'extremely disappointed' with the performance of the government at the Centre.
He is understood to have been promoted as a vice president,while he would continue in his present role as chief strategy officer.
The business tycoon, who is also the Chairman of Azim Premji Foundation, has donated 8.7 per cent of the total stock of Wipro from his personal stock-holding for philanthropy in 2010.
Wipro chairman Azim Premji said that, going forward, a series of liberalisations of the economy will be announced by the Indian government, but the pace may not as fast as would be expected by many in the United States.
The Azim Premji Foundation has emerged as a major player in school education across the country.
Azim Premji, chairman of Wipro, feels that IT demand in US is strong and will pick up further irrespective of poll results.
India has managed to move a smaller share of its working-age population away from farm-related work than many of its neighbours. Bangladesh, Bhutan, Sri Lanka and Nepal managed to shift a bigger share of jobs to non-agricultural work than India, shows data from the year 2000 to 2023 the compiled from the World Bank's April South Asia Development Update report. Only Pakistan and the Maldives show a lower shift among South Asian peers.
IT major Wipro's chief Azim Premji on Friday cautioned the industry that competition globally is hotting up and warned the sector against falling into a mind trap of 'India Advantage'.
Wipro chairman Azim Premji on Friday became the first Indian to receive the prestigious Faraday Medal from Institution of Electrical Engineers, the largest professional engineering society in Europe.
The trust has been created to fund various social, not-for-profit initiatives, which are expected to scale significantly over the next few years.
As the global economic downturn takes toll on pay packets, Indian IT major Wipro's chief Azim Premji seems to be leading by example as he has taken a cut of about 10 per cent in his annual compensation.
Hours after World Bank made public that Wipro has been debarred from doing any business with the global lender, the company's chairman Azim Premji wrote to its over 1,00,000 employees saying that the company had not done anything unethical.
In the financial year 2007-08, Premji received a whopping $328,556 towards his annual compensation package. This included $107,701 as salary and allowances, $127,621 towards compensation and incentives, $35,298 for housing and $41,895 towards the long-term compensation, the company told the Securities and Exchange Commission in its annual filing.
Wipro Chief Azim Premji has cautioned US on the shortage of IT professionals in the country and has asked the business fraternity there to take up this problem urgently.
In new year message, Sikka warns staff of automation, Premji talks of Wipro's core values
This is the largest philanthropic transfer by any individual in the country.
Nasdaq-listed Wipro Ltd on Wednesday said its chairman Azim Premji has been named among the 'greatest entrepreneurs' of all time by BusinessWeek.
IT major HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
Wipro chairman Azim Premzi' son will soon join the country's third largest software exporter.
Mamata Banerjee government was principally opposed to granting SEZ status to any such units willing to come to the state
Since his low-key entry into Wipro five years ago, Rishad Premji is being carefully groomed to lead the company one day. Indulekha Aravind on the man who could succeed Azim Premji.
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
A court in Kanpur has issued a notice to Wipro chairman Azim Premji after the wife of one of the company's employees alleged her husband had left her because the firm paid him a 'dating allowance.'
The deal values the stock exchange at $3.3 billion.
Wipro chairman Azim Premji on Thursday called on Prime Minister Narendra Modi.
Referring to the issue related to Corporate Social Responsibility (CSR), which has been made mandatory by the new laws that govern companies, IT czar Azim Premji on Wednesday said philanthropy cannot be forced and it has to be spontaneous.
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