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Wipro chief Premji says son will never be CEO

PTI
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Azim Premji
Azim Premji

Wipro Chairman Azim Premji has said his son Rishad will never be the Chief Executive of his company, but will represent promoter ownership on the company’s board.

Rishad, 35, joined Wipro in 2007 as Business Head for Special Projects in the banking and financial services vertical and rose to become Chief Strategy Officer three years later. Premji, who founded Wipro, said becoming CEO was not the career path for the eldest of his two sons.

“He (Rishad) is not going to be the Chief Executive Officer, that’s not the career plan for him but, he would be representing ownership obviously,” Premji, Chairman of Wipro, said in television interviews on sidelines of World Economic Forum here.

Azim Premji directly owns 3.7 per cent in the company, while entities related to him own over another 74 per cent. Rishad has a direct ownership of 0.03 per cent shares in Wipro.

Rishad has for long been speculated to be a natural choice for taking over the company’s operations.

(This article was published on January 23, 2013)
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