Azim Premji's letter to Wipro employees: Full text

NEW DELHI: Wipro founder Azim Premji on Thursday announced that he is going to step down as the company head on July 30. Premji, who turns 74 next month, will retire as executive chairman upon the of entirety of his present time period, after having led the company for 53 years, Wipro stated in a remark.

Premji, India’s second richest man and well-known philanthropist, has led Wipro’s evolution from a vegetable oil company founded in 1946 into a global IT company.

Rishad Premji has very big sneakers to fill at Wipro

It's son-rise at Wipro. In a transition that was once on expected traces and set in movement over a decade ago, Rishad Premji, Azim Premji’s firstborn, will take over as Wipro chairman in July. Premji Jr, the Cathedral boy from Mumbai with a trade degree from Harvard Business School, has accomplished more than one gigs at Wipro.

“It has been an extended and fulfilling adventure for me. As I glance into the future, I plan to devote extra time to focus on our philanthropic actions,” Azim Premji, who were at the helm for more than 50 years, stated in a remark.

Here's all the text of Azim Premji's letter to Wipro workers:

Dear Wiproites,

I'm more than happy to announce that Rishad Premji will take over as the Executive Chairman of Wipro Limited with impact from July 31, 2019.

Rishad brings to this position new tactics of thinking, revel in, and competence that will lead Wipro to greater heights. He has been an integral part of the leadership staff since 2007, maximum just lately as Chief Strategy Officer, and has an intimate understanding of our company – from operations to strategy. He has a deep knowledge of the worldwide technology industry and was once till just lately the Chairman of the industry frame NASSCOM, the place he helped chart the course of India’s $170 billion tool industry on this era of virtual transformation. His various and cross-industry stories give him the advantage of a huge view of worldwide trade. He is firmly rooted in the values which might be the bedrock of the company -- his dedication to the Spirit of Wipro is absolute.

Rishad will continue to serve at the Board of the Azim Premji Foundation, the philanthropic group, which now owns 67% of the commercial interest of Wipro Limited. Thus, in his new position, he's going to also constitute the biggest stakeholder of Wipro.

I'm also pleased to announce that Abidali Neemuchwala will be the Managing Director of Wipro Limited from July 31, 2019, whilst continuing to be the Chief Executive Officer. I have complete confidence in Abid to steer our nice company. Rishad and Abid make an excellent leadership staff and I believe this will probably be an excellent power for Wipro.

Azim Premji, IT’s marathon man, to name it an afternoon after 53 years

Azim Premji, who reworked the cooking oil company his father began in 1945 right into a $25 billion (Rs 1.eight lakh crore) IT powerhouse, will retire as executive chairman on July 30. Premji will probably be succeeded via his elder son, Rishad Premji, a Harvard Business School and London School of Economics graduate, who joined the company in 2007.

I will continue to serve at the Board of Wipro Limited whilst dedicating maximum of my time and energy to the philanthropic efforts of the Foundation. I will remain the Chairman of Wipro Enterprises Limited which incorporates our Consumer Care and Infrastructure Engineering Businesses, and the Wipro-GE Healthcare joint venture, with general revenues of approximately $2 billion. I will also continue to Chair the Board of Wipro-GE Healthcare.

Leading Wipro from 1966 till now has been the greatest privilege of my life. It has been an unusual adventure – rising from being a small vegetable oil company to the various world trade that we are lately. It is the deep dedication and hard work of Wiproites across generations that has helped shape the organisation of lately. Wipro is an exemplar of a a hit, ethical and a socially responsible organisation. I want to thank all of you in addition to all my colleagues from the previous for his or her contribution and willpower.

Wipro will regularly transform to scale new heights as the world changes whilst final firmly committed to its values. Rishad and Abid will lead this modification along with all of you. I'm assured that the future of Wipro will a ways outshine anything that we've got accomplished before.

I want you all the very best.

With profound appreciation,

Azim Premji