Rishad Premji became chairman of WiproNSE -0.85 % on Wednesday, taking over from father Azim Premji in a low key handover at the company. The senior Premji will continue to be on the board of Wipro. Rishad takes control at a time when the Bengaluru based company has penciled in slower growth at the beginning of the fiscal year and amid uncertainties over profitability.
The company also has to focus on creating an executive bench within senior management that can go on to produce technology leaders.
Premji’s role will be more challenging as he will have to drive growth in IP-led revenue, said Sanchit Vir Gogia, chief executive, Greyhound Research. “While Premji Jr is focusing on IP-led growth, he has to see how that gets embedded in the broader Wipro systems, how revenue starts moving towards being IP-led,” he added.
Cross-town rival Infosys drew flak earlier over a feud between the management and founders, and one of Premji’s key duties will be to ensure better management and owner coordination for faster growth, Gogia pointed out. “What Rishad represents here is ownership, not management. The focus of the owners and focus of the management must match for it to be relevant in the new-age technology driven world,” said Gogia.
Analyst:
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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