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September 23, 2020
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Business

Wipro CEO MD resignes, citing family responsibilities as reason

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  • Remain in office until new CEO-MD is appointed
  • Neemuchwala joined Wipro in 2015, became CEO in 2016

Abidali Z Neemuchwala (52), CEO and MD of IT company Wipro, will resign. Wipro reported on Friday that Neemuchwala decided to resign due to family responsibilities. However, he will continue in office until his option is found. The company has started looking for a new CEO-MD.

The responsibility for the post of MD with CEO was given last year

Neemuchwala left TCS and joined Wipro as Group President and COO in April 2015. He became the CEO in February 2016. On July 31 last year, he was made CEO-MD. His current term was until next year. Neemuchwala is a post-graduate in Industrial Management from IIT Bombay. He graduated in Electronics and Communication from NIT Raipur.

Wipro’s profit down 2% in December quarter

Wipro’s growth has been slow in the last few quarters. Profit in the December quarter declined 2.17% to Rs 2,455.9 crore. However, revenue rose 2.7% to 15,470.5. On the quarterly results, Neemuchwala said that the growth of the company’s financial services segment was affected due to weak macro-economic conditions. However, he expressed confidence that the company would continue to get new deals. At the same time, he had also raised concerns about the uncertainties caused by the risks of global politics.

Neemuchwala boosts digital business worldwide: Wipro

Rishad Premji, chairman of Wipro, said, “We are grateful to Neemuchwala for his leadership and contribution. In the last four years, he has helped to take strong decisions, make major acquisitions and grow the digital business globally. ‘ At the same time, Neemuchwala said, ‘Wipro made a lot of progress in the transition phase. The company improved the delivery process by focusing on the client. I am grateful to Azim Premji, Rishad Premji, the Board of Directors, colleagues and clients for their support.

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