Premji’s son Rishad joins Wipro board

Bengaluru, April 21 (IANS) Software major Wipro Ltd. on Tuesday appointed its chairman Azim Premji’s 38-year-old son Rishad Premji to the board as a director from May 1.

“Rishad will continue to run strategy and mergers and acquisitions (M&A) in addition to new responsibilities of overseeing the technology office, investor and government relations and Wipro Ventures,” the company said in a statement here.

The elder of Premji’s two sons, the other being Tariq, Harvard-graduate Rishad joined the global software major in July 2007 after stints at GE Capital for four years and Bain & Co, a global management consulting firm in the US for two years.

“Rishad spearheaded the $100-million fund Wipro Ventures, which is focused on investing in new age start-ups building cutting edge technologies,” the statement said.

Asked if Rishad was being groomed to take over the company’s reins from his father, a company official said it was too early to speculate on the succession plans and who would step into the 70-year-old IT czar’s shoes.

“No succession plans as of now. There is more time for such things. As Rishad is still young, he has a long way to go in moving up the management ladder,” the official told IANS but declined to elaborate.

Rishad is also on the board of Wipro Enterprises Ltd., an FMCG and infrastructure engineering firm, hived off as a separate entity in 2014, and on the board of Wipro-GE, a joint venture in healthcare with the US-based General Electric multinational.

“Rishad was recognised as a Young Global Leader by the World Economic Forum for his leadership, professional accomplishments and commitment to society,” the statement added.

Acknowledging his recognition, Rishad said it was a privilege and honour to join the board of a company built over the past 70 years on the bedrock of integrity and hard work of thousands of Wiprotes.

Wipro’s board governance and nomination committee chairman Ashok S. Ganguly said Rishad had a unique blend of strategic insights, understanding of the technology space and diverse business expertise.

“Working with Wipro over the past eight years has given Rishad an in-depth view of the organisation and makes him well positioned to guide the global firm and carry the mantle of ownership in the years ahead,” Ganguly said.