Wipro to seek shareholder nod on July 18 for reappointment of Azim Premji, Rishad Premji on board
The Wipro board approved the reappointment 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.
IT company Wipro will seek shareholders' nod next month for the reappointment of Azim H Premji and his son Rishad Premji on the company's board for a five-year period.
According to a regulatory filing on Monday, the Wipro board approved the reappointment 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.
"The Seventy Eighth Annual General Meeting 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 the remuneration of Rishad Premji in the range of Rs 5 crore to Rs 12 crore per annum which is 11-33% higher than the pay approved in the previous five-year cycle.
The board has approved a 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.
Edited by Swetha Kannan
