Bangalore, India - March 6, 2013:
Wipro Limited (NYSE: WIT) today announced that it has been recognized by the Ethisphere Institute, a leading business ethics think-tank, as one of the 2013 World's Most Ethical (WME) Companies, for the second year in a row. This recognition is for Wipro's strong commitment to ethical leadership, compliance practices, and corporate citizenship.
The Ethisphere Institute is a leading international organization dedicated to the creation, advancement and sharing of best practices in business ethics, governance, anti-corruption and sustainability. This is the seventh annual selection of the World's Most Ethical ("WME") Companies, a recognition that highlights companies that outperform industry peers when it comes to ethical behavior. The 2013 WME companies are those that truly embrace ethical business practice and demonstrate industry leadership, forcing peers to follow suit or fall behind.
Speaking about this achievement, Anurag Behar, Chief Sustainability Officer, Wipro said, "At Wipro, integrity and ethics have always been a core part of how we think and act. Our constant endeavor is to keep raising the bar for ourselves and to do so collaboratively with our key stakeholders – employees, customers, suppliers, investors. We are happy at Ethisphere's recognition for the second year in succession and see it as a reaffirmation of what we stand for."
"Not only did more companies apply for the World's Most Ethical Companies recognition this year than any year in the past, which demonstrates that ethical activity is an important part of many of these companies' business models, but we are also seeing more companies be proactive and create new initiatives that expand ethics programs and cultures across entire industries, such as industry-based ethics associations and other activities," said Alex Brigham, Executive Director of Ethisphere. "We are excited to see the 2013 World's Most Ethical Companies take these leadership positions, and embrace the correlation between ethical behavior and improved financial performance."
Through in-depth research and a multi-step analysis, Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. The methodology for the World's Most Ethical Companies includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
The Ethisphere recognition follows a long list of recognitions for Wipro in the last one year, including the Dow Jones Sustainability Index for the 3rd year in a row, part of the Carbon Disclosure Leadership Index and ranked No.2 in Newsweek magazine's Global Green companies' rankings.
Read about the methodology and view the complete list of the 2013 World's Most Ethical Companies at http://ethisphere.com/wme.
For Further Information, please contact:
Media
Chaya Ganapathy
Wipro Limited
+91 80 39916163
chaya.ganapathy@wipro.com
Investors
Mr. Aravind Viswanathan, Investor Relations, Wipro Limited
+91 – 80 – 39916143
aravind.viswanathan@wipro.com
About Wipro Limited (NYSE: WIT)
Wipro provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. Wipro also has a strong presence in niche market segments of Infrastructure Engineering and Consumer Products & Lighting.
For more information, please visit our websites at www.wipro.com.
About Ethisphere Institute:
The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com
Wipro's forward looking and cautionary statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
