Wipro seeks to reappoint Azim Premji as Executive Chairman, MD

By: | Updated: July 13, 2017 5:25 PM

Wipro Ltd, one of the leading outsourcer of software solutions and third largest Information Technology company by revenues is reportedly seeking the board members nod for reappointment Azim Hashim Premji as Executive Chairman and Managing Director.

Recently, Wipro Consumer Care and Lighting, part of Azim Premji-owned Wipro Enterprises has shut down its manufacturing plant in Mysore affecting 84 employees. (Image: Reuters)

Wipro Ltd, one of the leading outsourcer of software solutions and third largest Information Technology company by revenues, is reportedly seeking the board members’ nod for reappointment Azim Hashim Premji as Executive Chairman and Managing Director. and William Arthur Owens as the Independent Director of the company.

Wipro is also seeking appointment of William Arthur Owens as the Independent Director of the company. Further the IT firm has also in a lookout on the appointment of Director in place of the current position holder Abidali Neemuchwala who retires by rotation, however, he is offering himself for the reappointment of the post.

Recently, Wipro Consumer Care and Lighting, part of Azim Premji-owned Wipro Enterprises has shut down its manufacturing plant in Mysore affecting 84 employees. The unit which was manufacturing CFL lighting products had become unviable as the market has increasingly shifted to LED products.

Wipro Consumer Care and Lighting is part of the privately held Wipro Enterprises. This came into being following the demerger of Wipro business into IT and non-IT.

Earlier in June 2017, Wipro Ltd has denied reports that its promoters are at an early stage of evaluating the sale of a part or the whole business. The IT major has termed the reports which made the said claim as ‘baseless and malicious’. Founder and chairman Azim Premji and his family own just over 73 percent in the company. The stock price of the company was under pressure during early trade but gained around a percent after the company issued the denial.

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