Rishada Premji News Today

Wipro executive chairman Rishad Premji declined variable pay for the second consecutive year due to negative profit growth. He took a 20% pay cut, earning $769,456 in FY24. Former CEO Thierry Delaporte became the highest-paid IT sector CEO with $20.11 million in compensation for FY24, including a $11 million separation payment upon resignation.

India Business News: As the son of Wipro chairman Azim Premji, Rishad Premji is entitled to a commission of 0.35% on the incremental consolidated net profits of Wipro comp

Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in todays ETtech Top 5.

Wipro Q4 net profit falls 7.8% to ₹2,835 cr; new CEO flags uncertainty in macro environment

Wipros board of directors has reappointed Azim H. Premji as Non-Executive, non-independent director of the company while re-appointing Rishad A. Premji as the whole-time director for a period of five years with effect from July 31, 2024, to July 30, 2029.

The board approved the reappointment of Rishad A. Premji as Executive Chairman for a period of five years with effect from July 31, 2024, to July 30, 2029.

(This story has not been edited by THE WEEK and is auto-generated from a PTI

IT services company Wipro on Friday reported an 8% year-on-year (YoY) fall in consolidated net profit to Rs 2,835 crore for the quarter ended March 2024. It was Rs 3,074 crore in the last year quarter.

The slump in remuneration of CEOs across major Indian IT companies is due to multiple reasons. For example, in the case of Wipro Chairman Rishad Premji’s remuneration, the cuts were due to Wipro underperforming in FY23. 

Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firms profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premjis compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. H...