IT major Wipro India’s Managing Director (MD) and Chief Executive Officer (CEO) Abidali Z Neemuchwala Friday announced his decision to step down citing family commitments.
The company’s board of directors has initiated the search to identify the next CEO, the management said in a statement. Meanwhile, Neemuchwala will continue to hold the position until a successor is appointed to ensure smooth transition, the company added.
Thanking Neemuchwala for his contributions to the company, Wipro Chairman, Rishad Premji 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.”
Abidali Nemuchwala was elevated to the position of CEO from Chief Operating Officer (COO) on February 1, 2016. His appointment came at a time when the company was struggling to hit a double-digit growth rate and had fallen behind peers like TCS, Cognizant and Infosys.
“It has been my honour and privilege to serve Wipro, a company with a rich legacy of almost 75 years. We have made considerable progress in our transformation journey, improved our delivery engine and institutionalised deeper client centricity. I thank Azim Premji, Rishad, our Board of Directors, my Wipro colleagues and customers for their support over the years,” Neemuchwala said in a statement.
Neemuchwala was to continue as CEO until 2021, as his appointment was for a period of five years. Prior to this, he had spent 23 years at Tata Consultancy Services (TCS). He was the second outsider to head Wipro’s IT business after Vivek Paul.