Stocks

Wipro falls over 2 per cent after CEO and MD, Neemuchwala, steps down

PTI New Delhi | Updated on January 31, 2020 Published on January 31, 2020

The scrip of Wipro fell over 2 per cent on Friday after the company’s CEO and MD Abidali Z Neemuchwala decided to step down.

The firm’s shares dropped 2.28 per cent to Rs 235.30 on the BSE. On the NSE, it declined 2.28 per cent to Rs 235.20.

Wipro, early on Friday, announced that Neemuchwala has decided to step down due to family commitments.

He will continue to hold the office of the CEO and Managing Director, until a successor is appointed for a smooth transition and to ensure that business continues as usual, the company said in a BSE filing.

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Published on January 31, 2020
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