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Tech magnate and Wipro Ltd founder Azim Premji, who turned a small maker of vegetable oil into a USD 8.5 billion software behemoth, will retire as the company head by July-end and hand over reins of the firm to his son, Rishad. Premji, who turns 74 next month, will retire as executive chairman upon the completion of his current term on July 30, 2019, after having led the company for 53 years, Wipro said in a statement. Rishad Azim Hasham Premji is Wipro's Chief Strategy Officer since May 2015 and has been on the company board since 2018.
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Wipro is making significant investment in digital, cloud, engineering services and cyber security as the company aims to outshine its previous performance, its founder and outgoing chairman Azim Premji said Tuesday. Premji will pass the baton over to his son Rishad in July-end after leading the charge at the company for over five decades. He will continue to serve on the Board of Wipro as Non-Executive Director and Founder Chairman.
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