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Grooming for Premji Junior begins, Rishad joins Wipro
THE succession plan at Wipro, the third largest software services exporter from India, seems to be well laid out with the owner’s son coming into the company, though for now, as an employee. Rishad Premji, the elder son of Azim Premji, chairman Wipro, will be joining the company in July putting an end to long-term speculation on to whom Premji Sr. would pass on the baton.
“Rishad Premji is going to join Wipro at a level commensurate with his background and experience. His joining has been approved by the Board and is subject to shareholder approval. This is required statutorily because he is a relative of a director,” Wipro stated in a formal announcement.
In a conference call from the US, Pratik Kumar, executive VP - HR, Wipro, pointed out that it was not the company which took the initiative in bringing in Rishad, but he (Rishad) had expressed his desire to come back to India. “He has high level of familiarity with Wipro,” he added. Rishad would be joining the financial services vertical as business manager and would be reporting to a senior VP. He is an MBA from Harvard Business School and has had stints in GE and Bain & Co. His last place of work was with Bain in London as business development executive handling financial systems, Mr. Kumar clarified that Rishad was coming into Wipro as an employee and not on the board of directors, though adding, “it is a logical possibility given the shareholding structure that he may come on the board.
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