Wipro share falls more than 2% After the CEO resigns, MD Neemuchwala resigns

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CEO and MD Abidali Z Neemuchwala will continue to serve as CEO and Managing Director until a successor is appointed for a smooth transition.

PTI

updated:January 31, 2020, 11:45 a.m.

Wipro, dismissal, Wipro-Sack, fired Wipro employees, performance assessment
This file photo shows the Wipro campus in Bangalore. (Photo: Reuters)

New Delhi: The stake in the large IT group Wipro fell more than 2 percent on Friday after the company's CEO and MD Abidali Z Neemuchwala decided to resign.

The company's shares on the BSE fell 2.28 percent to 235.30 rupees.

The NSE fell 2.28 percent to 235.20 rupees.

Wipro announced early Friday that Neemuchwala has decided to step down due to family commitments.

He will continue to serve as CEO and general manager until a successor is appointed for a smooth transition and to ensure that business continues as usual, the company said in a BSE file.

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