Azim Premji says son Rishad will never be CEO of Wipro
- In US, Manohar Parrikar hits out at Pakistan, says Modi govt 'pro-active' in curbing violence in Valley
- 'Is this Modi model of democracy?': Arvind Kejriwal complains about officers being transferred by L-G
- India, US sign military logistics pact
- Kyrgyzstan: Three hurt, suicide bomber killed, in blast at Chinese embassy
- Kashmir: Non-lethal options to pellets were cleared in 2012 but file gathers dust
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.
Prior to joining Wipro, Rishad, a management graduate from Harvard Business School, worked with Bain & Co, working across segments like consumer products, automobiles, telecom and insurance.
There have been speculations of him being appointed as the CEO of the now demerged entity of Wipro, which will include the non-IT business.
The non-IT businesses of Wipro, which includes lighting, furniture, consumer care products and infrastructure engineering services, was hived off last year to focus on the core information technology business. It contributes about 10 per cent of the company's revenues.
There have also been discussions around succession plans at Wipro after the retirement of Azim Premji, who is 67 now.
Asked about succession plans, Premji said, "We are always working with succession planning. It was right from the top to senior management level and that is the key responsibility of the board."
Hinting at a bigger role for CEO T K Kurien, Premji said Kurien "certainly" could become the Managing Director.
"We have T K Kurien now in charge. So, very obviously he has taken over from me the mantel of the chief executive officer's role...He certainly stands a chance of becoming the managing director. Our restructuring is going to make some changes," he said.
Stocks More on Wipro
Company INFO More on Wipro
- Who wants Prevention of Corruption Act amended, and why, is the question
- Maneka Gandhi’s reservations on paternity leave are based on gender stereotypes
- Garbage generation has reached frightening proportions
- Cotton, mustard, two GM debates
- Kashmiris must use fresh methods, free of radical Islam, free of violence
- Kalburgi, Pansare and Dabholkar melded modern sensibilities with tradition