Wipro succession plan includes Rishad Premji
Wipro Technologies, the third largest software services exporter from India, is finally being unveiled. Wipro chairman Azim Premji’s elder son, Rishad Premji, is joining the company, through as an employee. Rishad will be joining the company in July end to long term speculation.
Wipro stated in a formal an-nouncement that Rishad Premji is going to join Wipro Technologies at a level commensurate with his background and experience. Wipro also stated that his joining had been approved by the board and was subject to shareholder approval.
Persons familiar with the company said there is no prescribed retirement age for the chairman. The tenure is decided by the nomination and corporate governance committee of the board that comprises external directors.
Rishad Premji is believed to be studying management at Harvard University after brief stints with a few companies including General Electric. The younger son, Tariq is involved with Azim Premji Foundation which was set up with financial resources contributed by Premji.
Premji had said then that his sons might not even join Wipro Corporation. He said that there was a lot of talent within Wipro Corporation. He also said that they we identify at least two potential successors. He added that he had no immediate plans to hang up his boots.
He had then said that Wipro Technologies has a powerful succession plan in place for the top 10 percent and bottom 10 percent of employees, those who have put in five years and those who are critical for the company.
