New Delhi: The eldest son of software baron and Wipro Chairman Azim Premji is following in his father's footsteps and has decided to join Wipro.
"Rishad Premji is going to join Wipro at a level commensurate with his background and experience," a Wipro statement was quoted by news agency PTI as saying.
The move is being seen as a signal of eventual succession plans at India's third-largest software services exporter.
However, the company insists that he is being inducted as an “employee, not as a successor” to his father.
Nevertheless, with Premji turning 61 next month, the announcement has fuelled speculation over his succession plans.
A spokeswoman said Rishad currently works with a global consultancy firm in Europe. Because Rishad Premji is a relative of a director, his employment required shareholder approval, the statement said.
Having graduated from Wesleyan University in the US, Rishad worked briefly with General Electric before getting himself a management degree from Harvard and joining the consulting firm of Bain & Co in #London.
His joining has been approved by the Board and is subject to shareholder approval,it said, adding,this was required statutorily because he is a relative of a director.
IT czar Azim Premji,who holds about 80 per cent of stock in Wipro, had joined the company, then known as Western India Vegetable Oils company, at the age of 21 after his father's sudden demise in 1966
New York-listed Wipro, which provides IT solutions and services such as system integration, software application development and maintenance, has minor interests in computer hardware and consumer goods such as lighting and soaps.
(With inputs from agencies)
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