Abidali Z Neemuchwala has quit as the Chief Executive Officer and Managing Director of Wipro.
According to a release by Wipro, Neemuchwala is leaving due to family commitments and will continue to hold office until a successor is appointed.
Neemuchwala joined Wipro in April 2015 as the President and Chief Operating Officer, after having served at larger rival Tata Consultancy Services. Neemuchwala was made CEO the following year and took on the additional role of managing director in 2019 when billionaire and philanthropist Azim Premji step down as the company’s chairman and his son Rishad Premji was appointed in his place.
Wipro's stock rose about 13 per cent under Neemuchwala's tenure as the CEO, compared to a 59 per cent rise in India's blue-chip NSE Nifty 50 index, reported news agency Reuters.
On his resignation, Neemuchwala shared in the press release by Wipro, "lt has been my honour and privilege to serve Wipro, a company with a rich legacy of almost 75 years.”
Talking about his journey, Neemuchwala said, “We have made considerable progress in our transformation journey, improved our delivery engine and institutionalized deeper client centricity…"
Rishad Premji, chairman of Wipro Ltd said, “We thank Abid for his leadership and his contributions to Wipro. Over the last four years, Abid helped build a strong execution mindset, drove key acquisitions and scaled our digital business globally. We wish him the very best for the future."
The company has shared that the board of directors has initiated a search to identify the next chief executive officer. Abid will continue to hold the office of CEO & managing director until a successor is appointed for a smooth transition and to ensure that business continues as usual.
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