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Azim Premji will be retired from Wipro's executive chairmanship

Azim Premji will be retired from Wipro's executive chairmanship

Wipro Chairman Azim Premji announced retirement on June 06, 2019.

Azim Premji will be retired from the post of Executive Chairman of Wipro on July 30  2019. He is retiring after guiding the company 53 years.

Wipro released the statement on June 06, 2019 and said that Azim Premji will remain in the Board of Directors as non-executive director and founder chairman.

His son will take the charge of Chief Executive Officer and Executive Chairman of the Board of Directors Rishad Premji.

Wipro Board has decided to give the responsibility of the Managing Director (MD) along with the CEO to Abidali Z. Neemuchwala, the current CEO.

The company said that these changes will be effective from July 31, 2019 after receiving shareholders' approval.

Azim Premji

  • Wipro founder Azim Premji is among the few big munificent of the world.
  • Azim Premji has donated 34 per cent shares of Wipro Limited this year too.
  • The market value of these shares is Rs 52,750 crore.
  • In the hands of Azim Premji, the company has been commanding for nearly 53 years.
  • In the Forbes list, Azim Premji is ranked 38th in the world. His total net worth is Rs 510 crore.
  • Azim Premji started his donation journey in 2001, inspired by his mother's charitable work.
  • He started 'The Azim Premji Foundation' with a total of about 875 crores. After this he donated around 280 billion rupees and donated it.
  • World knows Premji as a donor too.
  • He is also called the ‘Emperor of the Indian IT industry’.
  • He was included in TIME Magazine's list of 100 Most Effective People in Year 2004 and Year 2011.

Rishad Premji (Son of Azim Premji)

  • Rishad Premji was associated with Wipro in the year 2007.
  • He started work on Investor Relations and Corporate Affairs here.
  • Prior to starting work in Wipro, Rishad Premji used to be working in Bev Company London.
  • He has also worked with GE Capital.
  • Rishad is also looking at works related to social and education being run by Wipro.
  • Rishad Premji has studied MBA from Howard Business School and a graduate in Economics from Wesleyan University of America.
  • Rishad has also done a special course from the London School of Economics.
  • World Economic Forum honored Rishad as the Young Global Leader in 2014. Rishad was also the Chairman of IT companies NASSCOM.

Wipro Limited

  • Wipro is the country's third largest IT company.
  • It was founded by M H Hasham Premji.
  • Wipro has around one thousand thirty thousand employees worldwide.
  • It has branches in 54 countries.
  • Wipro is headquartered in Bangaluru.
Q.1 Who is the founder of Wipro Limited?
A. Azim Premji
B. Rishad Premji
C. MH Hasham Premji
D. Tariq Premji
Ans: MH Hasham Premji
Q.2 Where is Wipro Limited's headquarter located?
A. Chennai
B. Bangaluru
C. Ahmedabad
D. Hyderabad
Ans: Bangaluru

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