Meet Azim Premji’s son, took Rs 14000000 pay cut, got Rs 250 crore gift, his salary is…

Azim Premji’s son Rishad Premji has made it to the headlines once again as his company has revealed a bunch of noteworthy stats in its 20-F filing with the US Securities and Exchange Commission. For those who are unaware, Rishad Premji is the executive chairman of Wipro which is one of the biggest IT firms in India with a massive market cap of Rs 243000 crore. Azim Premji took the lead of the IT giant when he was just 21 years old. Azim Premji handed over the reins of the multinational company to his son Rishad Premji after taking the company to new heights for around 53 years. 

Currently staying in Bangalore with his wife and two kids, Rishad Premji took a massive pay cut for the second consecutive year in FY24. The Wipro Chairman took a compensation of around 6.5 crore ($769,456) in the financial year 2023-24 which is down by Rs 14000000 from his compensation of the previous year which stood at Rs 7.9 crore ($951,353). Rishad reportedly opted for a voluntary pay cut in the view of the negative performance at Wipro’s IT services business. Rishad is also on the boards of Wipro Enterprises Limited, Wipro-GE and the Azim Premji Foundation.

Rishad joined Wipro in 2007 and worked in several roles before becoming Executive Chairman in 2019. With An MBA from Harvard Business School and a B.A. in economics from Wesleyan University in the US, Rishad Premji served as a Chairman of NASSCOM for the financial year 2018-19. He is now the Executive Chairman of Wipro Limited which has more than 250,000 employees in six continents.