Latest News | Wipro to Seek Shareholder's Nod on Jul 18 for Re-appointment of Azim, Rishad Premji on Board

New Delhi, Jun 24 (PTI) IT company Wipro will next month seek shareholder's nod for the re-appointment of Azim H Premji and his son Rishad Premji on the company's board for a five-year period, a regulatory filing said on Monday.

The Wipro board approved the re-appointment of Azim Premji as a non-executive, non-independent director and Rishad Premji as a whole-time director, designated as executive chairman, on April 19 for a five year period from July 31, 2024 to July 30, 2029.

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"The Seventy Eighth Annual General Meeting (AGM) of Wipro Limited will be held on Thursday, July 18, 2024 ... To consider appointment of a Director in place of Mr. Azim H. Premji who retires by rotation and being eligible, offers himself for reappointment" and "Re-appointment of Mr. Rishad A. Premjias a Whole Time Director of the Company", the filing said.

The board had approved remuneration of Rishad Premji in the range of Rs 5 crore to Rs 12 crore per annum which is 11-33 per cent higher compared to pay approved in the previous five-year cycle.

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The board has approved remuneration of up to Rs 1 crore for Azim Premji besides Rs 1 lakh sitting fees, reimbursement business expenses etc.

Wipro will seek approval on the proposals approved by the board at AGM on July 18, according to the filing.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)