HCL Technologies shareholders approve Shiv Nadar's reappointment as MD

The retail shareholder's category saw 99.9% votes cast in favour of the proposal

Shareholders of HCL Technologies have approved the re-appointment of Shiv Nadar as the Managing Director of the company for 5 years, up to January 2022, the software services firm today said.

Nadar will be eligible for salary, perquisites and allowances of Rs 5 crore per annum along with other benefits, HCL Technologies said in a BSE filing on the outcome of the company's Annual General Meeting held on September 21.

As many as 95.93 per cent of the total votes cast were in favour of the special resolution on the re-appointment of Nadar as the MD of the company, as per the filing.

The resolution pertained to the re-appointment of Nadar "as the MD of the company under the designation of Chairman and Chief Strategy Officer for a period of five years from February 1, 2017, to January 31, 2022...".

A break-up of the voting pattern across different shareholder categories showed that 100 per cent of the votes cast by promoter and promoter group were in favour of the resolution, while the number stood at 86.83 per cent among public institutional holders.

The retail shareholder's category saw 99.9 per cent votes cast in favour of the proposal.

Other proposals considered in the meeting included the appointment of Deepak Kapoor as an independent director, which was also passed at the AGM.

HCL Technologies is slated to announce its July-September 2017 quarter results on October 25.