Home >companies >news >Five-member board set up at Wipro Enterprises

Bangalore: Wipro Enterprises Ltd, the non-information technology business that was recently separated from Wipro Ltd, has finalized a five-member board, a person familiar with the matter said. Wipro, India’s third largest software services provider, said in November it would separate its consumer, medical diagnostics and infrastructure businesses into a new firm and focus on its IT business, which is grappling with slowing revenue and strong competition. The split was effective 31 March.

Wipro Enterprises’ board will consist of Azim Premji as non-executive chairman, Vineet Agrawal, Wipro finance chief Suresh Senapaty, Rishad Premji and human resources head Pratik Kumar, the person said, requesting anonymity. Wipro Enterprises declined to comment.

Earlier in April, Azim Premji said during an earnings meet that Wipro Enterprises’ board will have no outside directors. On the same day, Agrawal, who heads Wipro’s consumer business, said in an interview the firm will formalize Wipro Enterprises’ board in a few days. Wipro’s non-IT businesses contributed less than 15% of sales and less than 10% of profits. Wipro Enterprises will remain unlisted.

Wipro, which competes with Tata Consultancy Services Ltd and Infosys Ltd, has reported weak earnings for the past few quarters and is struggling to boost growth. The company’s shares have dropped over 10% since its latest earnings, when it gave weaker-than-expected sales forecast for the June quarter.

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