Three independent directors to step down from Wipro board

Tags: News
Country's third largest software services firm Wipro today said three of its independent directors BC Prabhakar, Shyam Saran and Henning Kagermann will leave the company's Board.

Prabhakar and Saran have conveyed their intention not to seek re-election in order to pursue other personal and professional interests, while Kagermann has expressed his intent to resign in keeping with the regulatory requirements in Germany, Wipro said in a statement.

Prabhakar and Saran, who joined the Wipro Board in 1997 and 2010 respectively, will cease to be directors on July 23, 2014, it added.

Kagermann's resignation will take effect on June 30, 2014.

"I wish to thank Mr B C Prabhakar, Mr Shyam Saran and Dr Henning Kagermann for their invaluable contribution to Wipro over the years. The company has immensely benefited from their deep insights and vast experience," Wipro Chairman Azim Premji said.

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, Ashok Ganguly and Jagdish Sheth.

The Companies Act 2013 requires all existing independent directors to be re-appointed as independent directors at the company's AGM.

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