Wipro informed that the company's chief executive officer and managing director Abidali Z Neemuchwala has decided to step down due to family commitments.
The scrip was currently trading 2.18% lower at Rs 235.55. it has traded in the range of Rs 235.30 and Rs 240 so far during the day.
Wipro added that the board of directors has initiated a search to identify the next chief executive officer. Abid will continue to hold the office of CEO & managing director until a successor is appointed for a smooth transition and to ensure that business continues as usual. The announcement was made before market hours today.
Rishad Premji, Chairman said, We thank Abid for his leadership and his contributions to Wipro. Over the last four years, Abid helped build a strong execution mindset, drove key acquisitions and scaled our digital business globally. We wish him the very best for the future.
Wipro is a global information technology, consulting and business process services company.
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