“Rishad Premji, elder son of Wipro promoter Azim Premji, has been appointed to the board of directors of the $7-billion company effective May 1. The move was widely expected. Azim Premji will be 70 in July this year, and Rishad’s elevation to the board clearly indicates he will represent the ownership interest in India’s third-largest IT firm. Azim Premji and family own 73.39% of the shares in the company. Peter Bendor Samuel, CEO of Everest Group, said Rishad’s induction to the board had been coming for some time. “With the family owning such a large proportion of Wipro, this makes a lot of sense. If anything, the family is under-represented on the board. Rishad has certainly paid his dues working in a wide variety of roles in Wipro and learning the business,” he said.” Read More.
