New Delhi: Tariq Premji, the younger son of billionaire and philanthropist Azim Premji, has been appointed to the board of Wipro Enterprises.
Tariq will join in his father and brother Rishad Premji on the board of the unlisted Wipro Enterprises as a non-executive director.
"Wipro Enterprises (P) Ltd has appointed Tariq Premji as a non-executive director on the board of the company," Wipro Enterprises said in a statement.
"His independent objective view will add value to the board's deliberations," the company added.
Wipro Enterprises (P) Ltd comprises of two main businesses -- Wipro Consumer Care and Wipro Infrastructure Engineering.
Wipro Consumer Care is primarily into personal care products, lighting solutions and office furniture, while Wipro Infrastructure Engineering provides hydraulic solutions for a wide range of applications including aerospace and defence and complete end-to-end solutions in water and wastewater treatment for industrial applications.
Wipro Enterprises' board is headed by Azim Premji. Other board members include Suresh C Senapaty, Vineet Agrawal who is he of CEO ? Consumer Care & Lighting and Executive Director of Wipro Enterprises, Pratik Kumar who is CEO ? Wipro Infrastructure Engineering & Executive Director of Wipro Enterprises.
Tariq's brother Rishad Premji is also on the company's board as a non-executive director. Rishad Premji is also the chief Strategy Officer & Member of the board of Wipro Ltd.
In fiscal 2016-17, Wipro Enterprises reported 34 percent increase in consolidated net profit to Rs 949.3 crore for the current year as against Rs 710.5 crore in the previous year.
Its sales increased by 10 percent to Rs 8,248 crore in 2016-17 as against Rs 7,477 crore in the previous year.
Promoter and promoter group shareholding in Wipro Enterprises is at 98.45 percent.