Wipro Ltd. 's executive chairman, Rishad Premji, said that the IT giant experienced "an early green shoot" in Q3FY24 regarding order booking, as reported by Business Today during the World Economic Forum.
Premji stated he feels a "bit better" about the IT sector than he did a few months ago. Other than that, he also talked about AI technology with NDTV, where he mentioned that, "AI is increasingly becoming an integral part of our lives and is enhancing capabilities, therefore adopting the mindset of leveraging AI is now crucial."
However, let's briefly learn about Rishad Premji. Rishad is the son of Azim Premji, who was one the richest men. He topped the list, leaving behind Mukesh Ambani and Gautam Adani. His son Rishad began working at Wipro in 2007 and held a number of positions until being elevated to Executive Chairman in 2019. For those who do not know, Wipro Limited employs over 250,000 people across six continents.
Rishad serves on the boards of the Azim Premji Foundation, one of the biggest not-for-profit organizations in India, Wipro-GE, a joint healthcare venture between Wipro and General Electric, and Wipro Enterprises Limited, a major player in FMCG and infrastructure engineering. The Foundation collaborates with over 350,000 government schools in seven Indian states to enhance public school education.
Having completed his B.A. in economics at Wesleyan University in the US, Rishad Premji holds an MBA from Harvard Business School. In recent months, Rishad Premji took a drastic pay cut that nearly halved his annual earnings from the previous year. He currently resides in Bangalore with his wife and two children. During 2022–2023 fiscal year, the Wipro Chairman received less than 8 crore ($951,353) in compensation. In light of the poor performance at Wipro's IT services division, Rishad allegedly decided to take a voluntary pay reduction. In 2019, Rishad made the decision to take a 31% pay cut during the Covid-19 pandemic.
