Bangalore: Technology major Wipro has decided to elevate Chairman Azim Premji's elder son Rishad as the Chief Strategy Officer (CSO) of the company's infotech business from January 1, 2011. The new development is seen as a move to give him maximum exposure to various roles in the company, where Premji holds close to 80 percent. The 33 year Rishad would report to the Joint CEOs of Wipro's IT business, the company said in a statement. In his new role as CSO, Rishad, who is widely perceived as Premji's successor at Wipro, will chart future strategy, identify new business areas and help draw up a vision plan. "Rishad Premji will assume responsibilities as the CSO of the IT Business. He is currently General Manager - Treasury & Investor Relations, and brings with him a diversified experience of consulting, finance, treasury and operations," said Saurabh Govil, Senior Vice-President, Human Resources, Wipro Technologies. Last July, Rishad was elevated to head the Investor Relations' Department as a General Manager. He has an MBA degree from Harvard Business School and joined Wipro on 18 July 2007 in the banking, financial services and insurance business after working with GE Capital and Bain and Co. The company has also decided to shift K R Lakshminarayana (Lan), the current CSO, to Premji Trust as its Chief Endowment Officer. The trust funds the philanthropic activities of Azim Premji. In his new role, Lan would be responsible for managing investments from the corpus of the trust for the Azim Premji Foundation and other affiliated entities.