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Wipro CEO Abidali Neemuchwala steps down, co looking for a successor

Neemuchwala will continue to hold the office of CEO and MD until a successor is appointed, the company added.

January 31, 2020 / 08:59 AM IST
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Wipro CEO Abidali Neemuchwala has stepped down from the company due to family commitments. However, he will continue as CEO till a successor is found, the company said in a statement, adding that the Board has initiated a search to identify the next CEO.

Rishad Premji, its Chairman, said, “We thank Abid for his leadership and his contributions to Wipro. Over the last four years, Abid helped build a strong execution mind set, drove key acquisitions and scaled our digital business globally. We wish him the very best for the future."

Commenting on his exit, Neemuchwala said, "lt 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."

Neemuchwala took over as the Wipro CEO on February 1, 2016. After Azim Premji’s exit, he became the MD and CEO in July 31, 2019. Prior to that, he was appointed and COO in April 2015 after working in Tata Consultancy Services (TCS) for 23 years.

During his four-year tenure as COO and CEO, he was instrumental in laying the digital strategy, which was beginning to payoff. The strategy focuses on business, operations and infrastructure and IT architecture and technology to cater to the growing digital transformation landscape. Digital now contributes to over 40 percent of Wipro’s overall revenue.

Under his leadership, the company was beginning to see a rival in growth after it was displaced by HCL Technologies as the third largest software services company. Wipro has been growing in low single-digits compared to its peers TCS, Infosys and HCL Tech.
Moneycontrol News
first published: Jan 31, 2020 07:53 am
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