Premji’s son set to join Wipro empire
But the company is not yet sure if he would fill the shoes of his father who controls 80% of the company worth about Rs 64,000 cr, reports Narayanan Madhavan.Updated: Jun 05, 2007 04:27 IST
Billionaire Azim Premji’s elder son Rishad is set to join the Wipro empire as a humble-sounding business manager, but the company is not yet sure if he would fill the shoes of his father who controls 80 per cent of the company worth about Rs 64,000 crore, or $20 billion, in the market.
The Harvard Business School graduate Rishad’s profile fits well into the software business, said Pratik Kumar, executive vice-president of human resources at Bangalore-based Wipro.
“He is coming in like any other employee. There is no special benefit or treatment,” Kumar said. “One day he could be on the board. Given the shareholding position, one day that could be a possibility.”
Very little is known about Rishad, who has maintained an elusive low profile, much like his 61-year-old father who has for years kept his hand secret on who would succeed him as the head of Wipro Ltd, the 70,000-employee-strong software-led conglomerate that also makes computers, light bulbs and Santoor soap.
About 30 years of age, Rishad has worked in the United States for General Electric, a key Wipro client, and Bain & Company, a respected strategy consulting firm that helps global companies in mergers, acquisitions, technology and operations. Wipro’s board has approved his appointment.
Premji has so far been cryptic about who would succeed him. “I think you need to divorce the ownership issue from management of the company,” he told Mint in an interview last month.