Azim Premji envisions Wipro’s 4 big future bets in his last letter to shareholders
In his final letter to the company shareholders, Azim Premji, Founder and Chairman, Wipro, recalled 70 years journey of his company, which transformed from a vegetable oil company into a leading information technology player.
Azim Premji, says the IT major would increase focus on four big bets -Digital, Cloud, Engineering Services and Cyber Security, subject to the board’s approval Wipro would step up investments significantly in these bets.as per ET reports
Takeaways from Azim Premji’s last letter to shareholders:
Rishad Premji, Chief Strategy Officer and member of the board, will take over as the Executive Chairman of Wipro with effect from July 31, 2019.
The total value of his philanthropic endowment corpus contributed over time is around $21 billion, which includes 67 per cent of economic ownership of Wipro.
The company has identified four technologies that will lead them into the future, which include Digital, Cloud, Engineering Services and Cyber Security.
For the FY 2018-19, the company’s earnings per share grew 18.60 per cent year-on-year, which was best in last five years.
Wipro has two important considerations for investors, one is, building long-term stakeholder value, and two, making required investments for future growth.
The company has evolved by constantly re-inventing itself and tapping newer opportunities, possible only because of the deep commitment and hard work of Wiproites. It employs 1,70,000-plus employees.
Technologies like digital and artificial intelligence are disrupting the way services are rendered and the ability to learn becomes vital for our employees.
The company has made significant investment in re-skilling its employees in digital technologies.
Economic progress of the world has come at the cost of climate change and, therefore, Wipro has a responsibility towards creating a sustainable community.
Wipro Earthian, a sustainability education program focused on water and bio-diversity, has reached out to 8,600 schools over last nine years.
The company has partnered with 166 organisations working in school education.
By: Abhinav Ranjan, Business Writer, DKODING Media