Wipro’s focus has been on breaking hierarchy and bringing flexibility: Rishad Premji

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Updated: February 16, 2017 4:28:22 PM

Wipro's Wholetime Director Rishad Premji on Thursday said that the IT company's focus has been on breaking hierarchy and bringing flexibility.

Talking about the buyback plan, Premji said, "We are always open to evaluating buybacks, special dividends. We conducted a buyback in July." He further said, "We are comfortable with levels of cash currently."Talking about the buyback plan, Premji said, “We are always open to evaluating buybacks, special dividends. We conducted a buyback in July.” He further said, “We are comfortable with levels of cash currently.”

Wipro’s Wholetime Director Rishad Premji on Thursday said that the IT company’s focus has been on breaking hierarchy and bringing flexibility. In a conversation with ET Now he said that “quantum of change in technology is becoming more real. Companies need to design themselves to deal with macro uncertainities.” Talking about the buyback plan, Premji said, “We are always open to evaluating buybacks, special dividends. We conducted a buyback in July.” He further said, “We are comfortable with levels of cash currently.”

Recently Wipro chairman Azim Premji, in a letter to employees, urged them not to ignore the obstacles that have arisen from political developments and instead find a common ground to deal with the issues that arose last year.

In a letter addressed to the employees of Wipro, Premji said, “On the eve of the coming New Year, I must say that the year 2016, seems to have raised questions and obstacles, on the path to a better world, which cannot be ignored. These questions have arisen from developments in the political arena, from the fast unfolding environmental crisis and from forces that want to shape the world in to a place of exclusion, conflict and suspicion.” The year 2016 witnessed events decided by popular mandate of United Kingdom (UK) exiting the European Union and the unexpected victory of US President elect Donald Trump. These events have raised fears of protectionism which is likely to hinder free global trade.

Premji in his letter said, “We must find common ground, rather than focusing on conflicts. The reality of the world is that there will always be disagreement and differences between people, but finding common ground is the only way of moving forward. This is as true in business as in politics and social issues, and as true in personal as in public life.”

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There are concerns that UK’s exit from the EU and election of Trump could usher in protectionist measures which would be very negative for sectors like the information technology (IT) industry in India, which is heavily dependent on movement of skilled professionals. At the same time, Premji also enunciated certain principles which would help in alleviating the standards of the lesser privileged people as he has been undertaking certain efforts through its philanthropic arm Azim Premji Foundation.

“The importance of this success of Wipro has become manifold more, because it’s the success of Wipro that enables the possibility of making a difference to some of the most disadvantaged people in the world. This is because almost 40% of Wipro is owned by a philanthropic trust,” he said in his letter.

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