Wipro stocks fall over two per cent after CEO Neemuchwala steps down

MD Abidali Z Neemuchwala will continue to hold the office of the CEO and Managing Director, until a successor is appointed for a smooth transition.

NEW DELHI: The scrip of IT major Wipro fell over 2 per cent on Friday after the company's CEO and MD Abidali Z Neemuchwala decided to step down.

The firm's shares dropped 2.28 per cent to Rs 235.30 on the BSE.

On the NSE, it declined 2.28 per cent to Rs 235.20.

Wipro early on Friday announced that Neemuchwala has decided to step down due to family commitments.

He will continue to hold the office of the CEO and Managing Director, until a successor is appointed for a smooth transition and to ensure that business continues as usual, the company said in a BSE filing.