Tariq Premji, 40, the younger son of billionaire Azim Premji, has been appointed to the board of Wipro Enterprises as a non-executive director, said a company statement.
“Wipro Enterprises (P) Limited has appointed Mr. Tariq Premji as a non-executive director on the board of the company. Wipro Enterprises is a private limited company and Mr. Tariq Premji’s appointment is in accordance with the provisions of the Companies Act, 2013.”
“His independent objective view will add value to the board’s deliberations,” according to the statement.
Wipro Enterprises (P) Limited comprises of two main businesses —- Wipro Consumer Care, which makes personal care products, lighting solutions & office furniture and Wipro Infrastructure Engineering, which provides hydraulic solutions for a wide range of applications including aerospace & defense and complete end-to-end solutions in water and wastewater treatment for industrial applications.
The board of directors of the company is headed by Mr. Azim Premji, India’s second richest man. Other members include Suresh Senapaty, former CFO of Wipro, Vineet Agarwal, executive director of Wipro Enterprises and CEO of Consumer Care and Lighting, Pratik Kumar, executive director of Wipro Enterprises and Mr. Tariq’s brother Rishad Premji.
Wipro Consumer Care and Lighting crossed revenue of $1 billion during the fiscal ended March 2018. The aerospace business of Wipro Infrastructure Engineering has manufacturing facilities in India, Israel and U.S. It supplies actuators, structural and precision engineered components to major OEMs for aerospace applications.
Wipro Enterprises’ consolidated net profit grew 34% to ₹9,493 million for the year ended March 2017 year-on-year. Sales increased to ₹82,480 million as against ₹74,770 million in the previous year, according to the company’s annual report.
