During Q3FY24, Wipro Ltd. executive chairman Rishad Premji claimed an early order booking boost. He said he understood IT “bit better” and stressed AI’s relevance. Son of Azim Premji, Premji took a wage cut for poor IT performance.
A World Economic Forum report by the media quoted Wipro Ltd. executive chairman Rishad Premji as saying the IT company had “an early green shoot” in Q3FY24 for order booking.
Premji said he felt “bit better” about IT than a few months back. Other than that, he said NDTV, “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 discuss Rishad Premji. Rishad is the son of wealthy Azim Premji. He came in first, ahead of Mukesh Ambani and Gautam Adani. His son Rishad joined Wipro in 2007 and rose to Executive Chairman in 2019. For those unfamiliar, Wipro Limited employs over 250,000 individuals on six continents.
Rishad sits on the boards of the Azim Premji Foundation, India’s largest non-profit, Wipro-GE, a healthcare joint venture, and Wipro Enterprises Limited, an FMCG and infrastructure engineering company. To improve public education, the Foundation works with approximately 350,000 government schools in seven Indian states.
Rishad Premji earned an MBA from Harvard Business School after earning a B.A. in economics from Wesleyan University. Rishad Premji’s latest wage decrease virtually half his annual earnings. He lives in Bangalore with his wife and two kids. The Wipro Chairman earned less than 8 crore ($951,353) in 2022–2023. Rishad allegedly voluntarily reduced his remuneration due to Wipro’s IT services division’s poor performance. Rishad took a 31% wage drop in 2019 amid the COVID-19 epidemic.
Conclusion
Wipro Ltd. executive chairman Rishad Premji highlighted an early order booking boost in Q3FY24, emphasizing the relevance of AI. Azim Premji’s son took a wage cut for poor IT performance. He worked for Wipro-GE, the Azim Premji Foundation, and Wipro Enterprises Limited. Premji’s wage decrease virtually half his annual profits since last year. He lives in Bangalore with his wife and two kids. Premji voluntarily reduced his remuneration in 2019 due to Wipro’s IT services division’s poor performance.
