AXISCADES Technologies Ltd. [AXISCADES (BSE: 532395 | NSE: AXISCADES], a leading end-to-end engineering and technology solutions provider has announced a significant leadership transition with the appointment of Mr. Abidali Neemuchwala as Chairman and Non-Executive Director. This decision was considered and approved during the Board of Directors' meeting held on October 04, 2023. Mr. Neemuchwala will also assume the role of Additional Director in the company in the category of Non-Executive, Non-Independent Director. This strategic move reflects AXISCADES commitment to harnessing Mr. Neemuchwala's wealth of industry experience and visionary leadership as he succeeds Mr. David Bradley.
With a distinguished career spanning over three decades in the technology industry, Mr. Abidali Neemuchwala has earned a valuable reputation for his expertise in aligning organizations, driving business results, and consistently leading transformative initiatives.
Mr. Neemuchwala began his journey with Tata Consulting Services (TCS) in 1992. During his tenure, he played a pivotal role in conceptualizing and scaling new businesses, including the acquisition of Citi's eServe captive, leading to the scaling of TCS's Digital Operations business. In 2015, he joined Wipro and was subsequently named CEO and Managing Director with a mandate to pivot the company to its digital future. Under his leadership, Wipro's digital business grew to 40% of overall revenues at a 35% CAGR. He initiated assertive actions within the company, including divesting non-core businesses and signing multiple mega deals including Wipro's largest customer deal to date worth $1.5B.
Commenting on his appointment, Mr. Abidali Neemuchwala said, "I am honored to join AXISCADES as Chairman and Non-Executive Director. AXISCADES has a rich legacy, and I am excited about the opportunities that lie ahead. I look forward to working closely with the leadership team to drive innovation, growth, and value for all stakeholders."
Arun Krishnamurthi, CEO and MD at AXISCADES, remarked, "We are delighted to welcome Mr. Abidali Neemuchwala. His wealth of experience and leadership will be instrumental in guiding the company through its next phase of growth. We extend our gratitude to Mr. David Bradley, who during his tenure over the last four years has led AXISCADES through a transformational phase of revenue diversification, expanding verticals and increasing the company's footprint with digital endeavors and prepared the company for the next stage of growth."
With this new change in leadership, AXISCADES looks forward to ushering in an era of continued innovation and success for the company.
Shares of AXISCADES Technologies Limited was last trading in BSE at Rs. 499.00 as compared to the previous close of Rs. 514.25. The total number of shares traded during the day was 1658 in over 81 trades.
The stock hit an intraday high of Rs. 517.00 and intraday low of 492.25. The net turnover during the day was Rs. 837860.00.