Wipro's CEO, Neemuchwala, resigns; look for his successor
BENGALURU: Abidali Z resigned as CEO and MD of Wipro almost a year before he finished his five-year term in 2021. Neemuchwala decided to continue citing family commitments, the company said.
The Board of Directors has initiated a search to identify the next Executive Director. Neemuchwala will continue to serve as CEO and managing director until a successor is appointed for a smooth transition and to ensure that the business continues as usual.
Rishad Premji, President, said: “We thank Abid for his leadership and his contributions to Wipro. Over the past four years, Abid helped build a solid execution mindset, boosted key acquisitions and expanded our digital business worldwide. We wish him the best for the future.
Neemuchwala said: “It has been an honor and a privilege to serve Wipro, a company with a rich legacy of almost 75 years. We have progressed considerably in our transformation journey, improved our delivery engine and institutionalized greater customer centralization. I appreciate Azim Premji , Rishad, our Board of Directors, my colleagues and Wipro clients for their support over the years.
Wipro has been lagging behind its peers to an enormous extent caught in cyclic challenges. What is more worrying for investors is that the company provides a very modest orientation during some quarters due to the slow pace in the BFSI sector, the soft macroeconomic environment and geopolitical risks.