Once implemented, Rishad Premji will be one of the youngest business leaders to don the role of non-executive chairman at a large cap Indian company.
'His working style differs from his father as he is a quick decision-maker.'
In the second half of July this year, when Rishad Premji, the eldest son of Wipro Chairman Azim Premji, joins the company as a business manager, Pratik Kumar, executive vice president-HR will have a tough time.
Clearly part of the grooming of Harvard-educated Rishad Premji, the group appointed the elder son of chairman Azim Premji as chief strategy officer for its flagship IT business.
Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
Rishad, who joined the company in July 2007, is currently chief strategy officer of the Bengaluru-based company.
Wipro chairman Rishad Premji on Sunday said its leaders will start returning to office from Monday after 18 months of work from home amid the COVID-19 pandemic. "After 18 long months, our leaders @Wipro are coming back to the office starting tomorrow (twice a week). All fully vaccinated, all ready to go - safely and socially distanced," Premji said in a tweet. He also shared a video about the COVID-19-related safety protocols, including temperature checks and QR code scans, that have been put in place at the Wipro office.
It is said Rishad had been on the lookout for an opportunity and was quite keen on joining Wipro. Like everyone else, he too had to send in his resume and as luck would have it, he managed to find a placement.
"Critical data which has to be resided in India is an important component that needs to be clarified, as this will be arguably uncovered on an ad hoc basis as we move forward."
There is no substitute for hard work. I think the smartest people in life don't get ahead. It's the hard working people who do, says Rishad.
Indian technology industry has a "big opportunity" despite global macroeconomic challenges, said Rishad Premji, chairman of IT services firm Wipro, on Wednesday as he spoke about how Covid-19 had changed work. "My confidence is driven by two things: the rapid pace of digitisation across the world, and the shift in the mindset of stakeholders who engage with us as an industry," said Premji in Bengaluru while addressing industry leaders and civil servants at the Invest Karnataka 2022, the state's Global Investors Meet (GIM). Businesses are using technology for customers and employees: a trend marked by the shift to cloud computing and leverage of data.
Wipro chairman Rishad Premji on Wednesday said the company had found its 300 employees worked with one of its competitors at the same time, and added that action was taken in such cases by terminating their services. Premji asserted that he stands by his recent comments on moonlighting being a complete violation of integrity "in its deepest form". "The reality is that there are people today working for Wipro and working directly for one of our competitors and we have actually discovered 300 people in the last few months who are doing exactly that," Premji said speaking at AIMA's (All India Management Association) National Management Convention.
Software major Wipro's chairman Rishad Premji on Thursday said social media platforms have integrated the world like never before and should be allowed to practice "responsive self-governance" to tackle the menace of hate and misinformation. Premji said technological developments on the digital and social media represent an incredibly powerful opportunity for betterment and the issues arising through its misuse need to be addressed immediately. "Technology, particularly digital and social media, have integrated the world as never before. "They've fostered human connections and solidarity across distances and barriers.
'We are on a whole different level of complexities and fundamental change is happening in the industry. There is a need for organisations to design themselves to deal with such complexities.'
Wipro founder Azim Premji has transferred 1.02 crore equity shares of Wipro held by him to his two sons --Rishad Premji and Tariq Premji-- as 'gift', according to exchange filing. The Wipro scrip is currently valued at Rs 472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs 483 crore.
Rishad joined the company in June 2007.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months. Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting. Last month, Wipro chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls.
IT services major Wipro on Friday said it has appointed Capgemini group veteran Thierry Delaporte as its chief executive officer and managing director, effective July 6, 2020. In January this year, the company had said its CEO and Managing Director Abidali Z Neemuchwala had decided to step down from the company. Abidali Neemuchwala will relinquish his position as CEO and MD on June 1.
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.
There was not a dry eye in sight as 3,024 beneficiaries of a slum rehabilitation project were overwhelmed by emotion as Prime Minister Narendra Damodardas Modi handed them the keys to their new homes at Vigyan Bhawan in New Delhi.
Wipro, has set up a venture capital (VC) fund that will look at investing in early-to-middle stage technology start-ups globally.
Wipro chief executive Abidali Z Neemuchwala saw his pay package grow 41 per cent to $ 3.9 million during 2018-19.
Global tech major IBM, which employs over a lakh individuals in India, on Wednesday termed moonlighting an unethical practice. Moonlighting, the practice of taking up secondary jobs after the regular work hours, has been highlighted by many tech companies of late. IBM's managing director for India and South Asia, Sandip Patel said, at the time of joining, the company's employees sign an agreement saying they will be working only for IBM.
The actress in conversation with the Wipro scion.
He is understood to have been promoted as a vice president,while he would continue in his present role as chief strategy officer.
Wipro Chief Executive Officer Thierry Delaporte drew a pay package of $8.7 million (around Rs 64.3 crore) in the financial year 2020-21, according to a regulatory filing. Delaporte's compensation is for the period from July 6, 2020, to March 31, 2021, and includes components such as a one-time cash award, annual stock grant and one-time grant of RSUs (restricted stock units). The former Capgemini executive had joined the Bengaluru-headquartered Wipro as its chief executive officer and managing director on July 6, succeeding Abidali Neemuchwala.
Infosys has shot off a missive to its employees, asserting that dual employment or 'moonlighting' is not permitted, and has warned that any violation of contract clauses will trigger disciplinary action "which could even lead to termination of employment". "No two timing - no moonlighting!" India's second largest IT services company said in a strong and firm message to employees on Monday. Put simply, moonlighting refers to employees taking up side gigs to work on more than one job at a time.
"...Chief Executive Officer and Managing Director Abidali Z Neemuchwala has decided to step down due to family commitments," the BSE filing said. The board of directors has also initiated a search to identify the next chief executive officer, it added.
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.
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.
Bengaluru-headquartered Wipro has decided to elevate Chairman Azim Premji's elder son Rishad as the chief strategy officer (CSO) of its information technology (IT) business from January 1, 2011.
'There's a lot of continuity in terms of basic values and there's also a lot of new thinking based on the generational shift... it's a combination of continuity and change,' says Wipro Chief Executive Officer Abidali Neemuchwala.
An MBA from Harvard Business School, Rishad, 32, joined the company almost two years ago as a business manager in the Banking and Finance division, which was then headed by Girish Paranjpe, the present joint CEO of the company's IT business. During his stint with GE Capital, Rishad was working in the treasury. Industry analysts say that Wipro is adhering to corporate standards, by treating the chairman's son at par with other employees.
In what is seen by many as a succession plan, Rishad Premji, eldest son of Wipro Ltd chairman Azim Premji, has joined the IT and FMCG major as a business development manager in a low-profile entry.
Wipro on Friday revised upwards its IT services revenue outlook to 8-10 per cent sequential growth in the June 2021 quarter, following the completion of its $1.45 billion buyout of Capco. While announcing its March quarter results earlier this month, Wipro had said it expects to log a sequential growth of 2-4 per cent in its IT services revenues in the June 2021 quarter without including revenue from Capco and Ampion acquisitions. In March, Wipro had announced the acquisition of London-headquartered Capco in a $1.45 billion (over Rs 10,500 crore) deal - its largest ever till date.
Wipro chairman Azim Premzi' son will soon join the country's third largest software exporter.
"Repeat after me: Depression is an illness like any other illness such as cancer and diabetes," Padukone wrote on Twitter.
Wipro said on Thursday that Azim Premji's son Rishad, chief strategy officer and member of the board, will take over as the executive chairman. Azim Premji, however, will continue to serve on the board as non-executive director and founder chairman.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances