Wipro, a leading global information technology, consulting and outsourcing company today announced that two of its independent directors B.C. Prabhakar and Shyam Saran have conveyed their intention not to seek re-election in order to pursue other personal and professional interests. Dr Henning Kagermann, an independent director on the board of the company has resigned.
"I wish to thank B C Prabhakar, Shyam Saran and Henning Kagermann for their invaluable contribution to Wipro over the years. The company has immensely benefited from their deep insights and vast experience. I wish them all success in their future endeavours," said Azim Premji, chairman, Wipro.
"B C Prabhakar, Shyam Saran and Dr Henning Kagermann have played a pivotal role in shaping strategy, enhancing shareholder value and upholding the highest standards of corporate governance. The board will miss their sagacity and expertise. I wish them all the best for the future," said Dr. S. Ashok Ganguly, independent director and chairman of the board governance, nomination and compensation committee, Wipro.
Wipro's other existing independent directors who will be re-appointed as independent directors at its Annual General Meeting on July 23, 2014 are Ireena Vittal, Vyomesh Joshi, M K Sharma, Bill Owens, N Vaghul, Dr Ashok Ganguly and Dr Jagdish Sheth.
Shares of the company gained Rs 7.25, or 1.37%, to settle at Rs 535.65. The total volume of shares traded was 120,113 at the BSE (Thursday).