Sell-out not on cards, Azim Premji assures Wipro staff
06 June 2017
Wipro chairman Azim Premji on Monday wrote to employees expressing confidence in the company's capabilities to achieve growth after a news report appeared claiming that ''promoters of Wipro are at early stage of evaluating sale of part or whole holding in the company''.
''Over the past 50 years, I have seen Wipro grow from a small regional player in vegetable oils to a global leader in technology. I continue to be incredibly excited about the potential of the IT industry and Wipro. I see enormous energy within the company to power the success of our clients and therefore the success of Wipro,'' Premji wrote.
''I remain as committed to Wipro as I have ever been,'' he said, adding that ''the news article about promoters of Wipro evaluating sale of their holding in the company is baseless and malicious. There is no truth to these unsubstantiated rumours.''
Premji, who owns a 73.25 per cent stake in Wipro, took home 63 per cent less compensation for the last financial year as the country's third largest software exporter saw profits declining due to shifts in business and technology.(See: Wipro's Azim Premji takes 63% pay cut as profit dips)
Earlier this year, Premji had called on employees to stick to the company's ''core values'' to deal with business challenges and said that the company enables making a difference to some of the most disadvantaged people in the world.