The country's third largest software firm Wipro today announced the appointment Rishad Premji as the Chief Strategy Officer of its IT business.

Rishad Premji is the son of Wipro founder Azim Premji.

"Rishad Premji will assume responsibilities as the Chief Strategy Officer of the IT Business," Wipro Technologies Senior Vice President (Human Resources) Saurabh Govil said in a press statement.

Premji is currently serving as the General Manager (Treasury and Investor Relations).

Taking over from Lakshminarayana K R, Rishad will report to joint CEO (IT Business) Suresh Vaswani and Girish Paranjpe in his new role.

Lakshminarayana will be moving as the Chief Endowment Officer of the philanthropic trust set up by Azim Premji.

He will be responsible for managing investments from the corpus of the trust for Azim Premji Foundation and affiliated entities.

With an MBA degree from Harvard Business School, Rishad has worked with GE Capital and consulting firm Bain&Co before joining Wipro in July 2007.