Posted by East Brunswick, USA – Bangalore, India: IT giant Wipro today said that CEO and MD Abidali Z Neemuchwala has decided to step down due to family commitments.
The Board of Directors has initiated a search to identify the next CEO. Neemuchwala will continue to hold the office of CEO & MD until a successor is appointed for a smooth transition and to ensure that business continues as usual.
“We thank Abid for his leadership and his contributions to Wipro. Over the last four years, Abid helped build a strong execution mindset, drove key acquisitions and scaled our Digital business globally. We wish him the very best for the future,” said Rishad Premji, Chairman – Wipro.
“It has been my honour and privilege to serve Wipro, a company with a rich legacy of almost 75 years. We have made considerable progress in our transformation journey, improved our delivery engine and institutionalised deeper client centricity. I thank Azim Premji, Rishad, our Board of Directors, my Wipro colleagues and customers for their support over the years,” said Abidali Z Neemuchwala, CEO and MD.
Following this announcement, Wipro share price was down 1.52 percent at Rs.237 in the early hours of trade on NSE. Wipro share closed at Rs.240 on Thursday.