Context:

• IT major Wipro Ltd announced that its founder Azim H Premji would retire as executive chairman and MD of the company by the end of July.
• Azim Premji is a recipient of Padma Bhushan and Padma Vibhushan awards.
• He’s going to hand over reins of the firm to his son Rishad.
• Wipro board has also announced that CEO and executive director Abidali Z. Neemuchwala will be re-designated as CEO and MD.