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Premji's son Rishad to join Wipro as business manager
Putting years of speculation to rest, Wipro Ltd said on Monday that Mr Rishad Premji, the eldest son of Chairman Mr Azim Premji, would join the company in July after the annual general meeting.
Thirty-year-old Mr Rishad, an MBA from Harvard Business School, had worked briefly with a few companies including General Electric (GE) in the US and Bain Consulting in the UK.
As of March 31, 2007, he held 6,18,000 shares of Wipro, amounting to about 0.04 per cent of the company's equity. Mr Premji's younger son, Mr Tariq Premji, is working with Azim Premji Investments.
Employee status
Mr Kumar clarified that Mr Rishad would be joining Wipro as an employee. "We have benchmarked him alongside other professionals in the organisation. His coming in is like any other employee of the organisation and no other benefits or treatment is envisaged for him," he said.
"However, given the shareholding pattern, it is possible that he would be on the board of Wipro one day," Mr Kumar said.
The latest announcement assumes significance as it is seen as a signal of an eventual succession at Wipro Ltd, in which Mr Premji owns 80 per cent stake.
