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Azim Premji steps down: Rishad has very big shoes to fill at Wipro

NEW DELHI: It's son-rise at Wipro. In a transition that was once on expected strains and set in movement over a decade in the past, Rishad Premji, Azim Premji’s first born, will take over as Wipro chairman in July.

Premji Jr, the Cathedral boy from Mumbai with a industry stage from Harvard Business School, has performed more than one gigs at Wipro. As the head of investor relations and company affairs and as chief strategy officer he was once instrumental in aligning Wipro’s strategy with the long run wishes of the industry. He may be credited with putting in the $100-million Wipro Ventures, its corporate VC arm to again startups growing solutions that complement Wipro’s long term businesses.

One of the top credits he earned at Wipro was once when he spearheaded the mixing of Citi Technology Services, following Wipro’s acquisition of the Citibank captive within the application and infrastructure space. Citi is one among Wipro's most sensible shoppers within the BFSI space. On the day Premji handed over the baton to his son, the previous had this to mention about Rishad to workers: “Rishad brings to this position new tactics of thinking, revel in, and competence that will lead Wipro to bigger heights. He has been an integral part of the leadership workforce since 2007, maximum not too long ago as chief strategy officer, and has an intimate figuring out of our corporate – from operations to strategy.”

Azim Premji, IT’s marathon man, to name it an afternoon after 53 years

Azim Premji, who reworked the cooking oil corporate his father began in 1945 into a $25 billion (Rs 1.8 lakh crore) IT powerhouse, will retire as govt chairman on July 30. Premji will probably be succeeded by his elder son, Rishad Premji, a Harvard Business School and London School of Economics graduate, who joined the company in 2007.

Rishad was once until not too long ago the chairman of the business frame Nasscom, where he helped chart the course of India’s $170-billion instrument trade. "His diverse and cross-industry experiences give him the benefit of a broad view of global business. He is firmly rooted in the values that are the bedrock of the company -- his commitment to the Spirit of Wipro is absolute," Premji Sr confident his 1.7 lakh plus workers.

Rishad takes over at a time when the Indian IT products and services trade is going through difficult instances as emerging applied sciences like cloud and analytics are changing the tech panorama dramatically. Its closest rival HCL pipped it remaining yr to turn into the 3rd greatest Indian IT products and services corporate by earnings.

Rishad walks in thus into a difficult atmosphere. “Wipro has lagged its better peers largely because of its publicity to sure sectors like oil and gas and telecom where industry adjustments had been profound because of the marketplace prerequisites. But they appear to be catching up and showing some aggression to get again to expansion trajectory,” mentioned Sampath Reddy, CIO, Bajaj Allianz Life Insurance.

Azim Premji - Living small, giving large

Azim Premji, lately India’s second richest man (after Mukesh Ambani) with a wealth of $21-billion, was once so embarrassed when he was once named by Forbes as the rustic’s richest man, again within the heydays of India’s IT products and services — overdue 90s — that he didn’t take any congratulatory calls. It fell on Ashok Soota, who ran the IT products and services industry that made Premji a billionaire, to talk about his boss and what made him special.

Pratik Kumar, CEO of Wipro Infrastructure Engineering, mentioned Wipro’s change of guard is an absolute case learn about on how succession must be deliberate. “Obviously, Premji’s are giant shoes to be stuffed. But Rishad will carry his personal leadership flavour as chairman and it all augurs smartly.”

Rishad and his spouse Aditi (school sweethearts from Cathedral) are moderately widespread in Bengaluru’s social circles and with their younger, school-going kids Rohaan and Rhea, are noticed about town in contrast to Azim Premji.

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