Three independent directors to leave Wipro's board

Prabhakar, Saran to leave board to pursue other interests; Kagermann to resign due to German regulations

India's third largest information technology (IT) services company, Wipro, today said its independent directors BC Prabhakar and Shyam Saran have conveyed their intentions to not seek a re-election to the board in order to pursue other personal and professional interests. Another independent director, Henning Kagermann, has decided to resign from Wirpo's board in keeping with German regulatory requirements.

"Prabhakar and Saran, who joined the Wipro board in 1997 and 2010, respectively, will cease to be directors on July 23, 2014 while Kagermann's resignation will take effect on June 30, 2014," the Bangalore-based company said in a release.

The announcement comes ahead of Wipro's Annual General Meeting (AGM), scheduled on July 23, 2014, as The Companies Act 2013 requires independent directors to be re-appointed at a company's AGM. Wipro said, it's other independent directors will be re-appointed at the AGM next month.

Excluding the three who would not be re-appointed at the AGM, Wipro's independent directors now include Ireena Vittal, Vyomesh Joshi, MK Sharma, Bill Owens, N Vaghul, Ashok Ganguly and Jagdish Sheth. The other members on Wipro's board include the company's Chairman Azim H Premji, Chief Executive Officer TK Kurien, and Chief Financial Officer Suresh C Senapaty.

"I wish to thank Prabhakar, Saran and Kagermann for their invaluable contribution to Wipro over the years," said Premji. "The company has immensely benefited from their deep insights and vast experience. I wish them all success in their future endeavours."