Azim Premji

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Azim Hashim Premji

Azim Hashim Premji at the World Economic Forum inDavos, Switzerland in 2007

Born

24 July 1945 (age 66) Mumbai, India [1]

Residence

Bangalore, India[2]

Nationality

Indian

Ethnicity

Kutchhi

Alma mater

Stanford University (dropped out in 1966, completed in 1999)[2]

Occupation

Chairman of Wipro

Net worth

US$16.8 billion (2011)[3]

Religion

Muslim Ismaili

Spouse

Yasmeen

Children

Rishad, Tariq[4]

Signature

Website

Azim Premji

Azim Hashim Premji (born 24 July 1945) is an Indian business tycoon and philanthropist who is the chairman of Wipro Limited, guiding the company through four decades of diversification and growth to emerge as one of the Indian leader in the software industry. According to Forbes, he is currently the third wealthiest Indian, and 36th richest in the world, with a personal wealth of US$16.8 billion in 2011. [3][5]In 2000, he was voted among the 20 most powerful men in the world by Asiaweek. He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011. [6] Premji owns 74% of Wipro Limited, which started off manufacturing hydrogenated cooking fats along with consumer products. It grew from a company of US $2.5 million to a giant of almost $7 billion under Premji's leadership. Wipro Technologies, the Global IT Business of the company, is one of India's largest software companies and is ranked among the top 100 technology companies globally. [7]
Contents
[hide]

1 Business expansion 2 Family 3 Honours and awards 4 Azim Premji's Current Portfolio 5 Philanthropy

o o

5.1 Wipro Equity Reward Trust 5.2 Azim Premji Foundation and University

6 Continuing Education 7 The University Research Centre 8 See also 9 References 10 External links

[edit]Business

expansion

When Azim Premji took over as its head, Wipro dealt in hydrogenated cooking fats and later diversified to bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders. Thereafter Premji made a focused shift from soaps to software.[8] The Amalner-based

vanaspathi manufacturing company, the Western India Products later became Wipro Products Ltd and Wipro Limited subsequently. Under Premjis leadership Wipro embarked on an ambitious phase of expansion and diversification. The Company began manufacturing light bulbs with and other consumer products including soaps, baby care products, shampoos, powder etc. In the 1980s Wipro entered the IT field, taking advantage of the exit of IBM from the Indian market in 1975. Thus, Wipro started manufacturing computer hardware, software development and related items, under a special license from Sentinel. As a result, the $1.5 million company in hydrogenated cooking fats grew within a few decades to an over $6 billion diversified, integrated corporation in services, medical systems, technology products and consumer items with offices worldwide. The companys IT division became the world's first to win SEI CMM level 5 and PCMM Level 5 (People Capability Maturity Model) certification, the latest in quality standards. A large percentage of the companys revenues are generated by the IT division. Wipro works with leading Fortune 500 companies. Wipro also has a joint venture in Medical Systems with General Electric company.[1] Wipro Consumer Care launched brands like Santoor[9] and the Wipro Shikakai[10] in 1986; Santoor Talc[11] and Wipro Baby Soft[12] in 1991; Santoor Facewash,[13] Wipro Sanjeevani Honey[14] and Wipro Safewash[15] in 2004; Santoor Handwash[16] in 2006; Wipro Sweet 'n' Healthy[17] and Chandrika Handwash[18] in 2007 and Santoor Deo[19] in 2010. Wipro Consumer Care acquired brands like Glucovita[20] in 2003; Chandrika[21] in 2004; North West[22] in 2006; Unza[23] in 2007; Enchanteurand Romano[24] in 2008 and Yardley[25] in 2009 and Aramusk in 2011. Azim Premji founded Wipro Lighting[26] and Wipro GE Medical Systems in 1991; Wipro Net[27] in 1999; netKracker[28] in 2000; Wipro Water in 2008; and Wipro EcoEnergy in 2009.

[edit]Family
Azim Premji is married to Yasmeen.The couple have two children, Rishad and Tariq. Rishad is married to Aditi and is currently the Chief Strategy Officer of IT Business, Wipro.[29]

[edit]Honours

and awards

Premji has been recognized by Business Week as one of the Greatest Entrepreneurs[30] for being responsible for Wipro emerging as one of the worlds fastest growing companies. In 2000, he was conferred an honorary doctorate by the Manipal Academy of Higher Education. In 2006, Azim Premji was awarded Lakshya Business Visionary by National Institute of Industrial Engineering, Mumbai.[31] He was awarded a Doctor of Literature (D.Litt.), an honorary degree, from the Aligarh Muslim University on the 18th of June 2008 on the occasion of 58th Convocation Ceremony of the University.

In 2009, he was awarded an honorary doctorate from Wesleyan University in Middletown, Connecticut for his outstanding philanthropic work.[32] In 2005 the government of India honored him with the title of Padma Bhushan for his outstanding work in trade and commerce. In 2011, he has been awarded Padma Vibhushan, the second highest civilian award by the Government of India.[33]

[edit]Azim

Premji's Current Portfolio

Ajim Premji's Portfolio

[edit]Philanthropy [edit]Wipro

Equity Reward Trust

In 1984, Azim Premji established the Wipro Equity Reward Trust[34] to allow employees to acquire stake in Wipro's success and growth. The WERT, which is administered by a Board of Trustees is designed to give eligible employees the right to receive restricted shares and other compensation benefits at the stipulated times and conditions. Such compensation benefits include voluntary contributions, loans, interest and dividends on investments in the WERT and other similar benefits. Shares from the WERT are issued in the joint names of the WERT and the employee until such restrictions and obligations are fulfilled by the employee. After a four-year period, complete ownership of the shares is transferred to the employee. If employment is terminated by death, disability or retirement, his or her restricted shares are transferred to the employees legal heirs or continue to be held by the employee, as the case may be, and such individuals may exercise any rights to those shares for up to 90 days after employment has ceased.

[edit]Azim

Premji Foundation and University

In 2001, he founded Azim Premji Foundation, a not-for-profit organization, with a vision to significantly contribute to achieving quality universal education that facilitates a just, equitable, humane and sustainable society. The Foundation works in the area of elementary education to pilot and develop 'proofs of concept' that have a potential for systemic change in India's 1.3 million government-run schools. A specific focus is on working in rural areas where the majority of these schools exist. This choice to work with elementary education (Class I to VIII) in rural government-run is a response to evidence of educational attainment in India. In December 2010, Premji pledged to donate $2 billion for improving school education in India. This has been done by transferring 213 million equity shares of Wipro Ltd, held by a few entities controlled by him, to the Azim Premji Trust.[39] This donation is the largest of its kind by any Indian billionaire. The Azim Premji University was established under the Azim Premji University Act 2010 of the Government of Karnataka[38] to run programmes to develop education and development professionals, offer alternative models for educational change and also invest in educational research to continuously stretch the boundaries of educational thinking. Currently the university conducts three degree awarding programmes:

Masters in Development

Masters in Education Masters in Teacher Education[35]

[edit]Continuing

Education

The Continuing Education Programme aims to transform existing talent in the fields of education and development. The programme is facilitated by the University Resource Centre which provides learning content and capacity building programmes for professionals in education and development through shortterm certified courses.

[edit]The

University Research Centre

The URC is being developed with a view to conduct relevant and meaningful research into the education system, especially in India. These researches shall be in a manner that facilitates proactive reforms to the existing education system.

[edit]See

also