You are here: Home » Companies » News
Thrasio-like startup GlobalBees raises $150 mn to create a house of brands
Moody's places Sri Lanka's Caa1 rating under review for downgrade
Business Standard

Shiv Nadar resigns as MD of HCL Technologies, named Chairman Emeritus

C Vijayakumar has been appointed as Managing Director of the IT firm

Topics
Shiv Nadar | HCL Technologies

Press Trust of India  |  New Delhi 



shiv nadar, hcl
File photo of Shiv Nadar

on Monday said its founder will take on the role of Chairman Emeritus and Strategic Advisor to the company's board.

Nadar, Chief Strategy Officer and Managing Director of the company, on completing 76 years of age, has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing.

"In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the Board of Directors in its meeting held today, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of Shri as the 'Chairman Emeritus and Strategic Advisor to the Board' for a term of five years with effect from July 20, 2021," it added.

The payment of remuneration or providing any facilities under this role will be subject to the approval of the shareholders.

The company has appointed C Vijayakumar - President and CEO of the company - as the Managing Director with the title of CEO and MD for five years with effect from July 20, it added.

In July last year, Nadar had stepped down from the Chairman's role and his daughter, Roshni Nadar Malhotra, succeeded him. Roshni was the first woman to chair a listed Indian IT firm. is a pioneer of the computing and IT industry in India.

In 1976, he founded the HCL Group that started off as a technology hardware company, manufacturing the country's first indigenous computers and then evolved into a more comprehensive software services global organisation.

Under Nadar's leadership, HCL is credited with the first 'Made in India' IT product innovations with the first 8-bit microprocessor-based computer in 1978 and world's first fine-grained multi-processor UNIX installation in 1989, among others.

HCL played a key role in supporting India's telecom revolution through the creation of the largest mobile distribution network with Nokia.

In 1994, he established the philanthropic organisation, Shiv Nadar Foundation. As of March 2021, the Shiv Nadar Foundation had invested around USD 988 million to create institutions of transformational education that are nurturing India's next generation of leaders.

In a separate regulatory filing, said it has appointed former IBM executive, Vanitha Narayanan, to the Board of Directors. Narayanan, as an Additional Director on the board, will hold office as an Independent Director. Her appointment is effective July 19.

In 2020, Vanitha retired after a career spanning three decades at IBM where she held multiple key roles leading large businesses in geographies like US, Asia-Pacific and India. These roles included serving as Managing Director and Chairman of IBM India and other leadership positions in the global communications and telecommunications industries.

"I am pleased to welcome Vanitha to the board of HCL and appreciate her decision to become a part of the HCL family.

"... her deep knowledge and understanding of the evolving marketing and technology landscape will be a great asset to HCL's focus on driving growth. Her experience of viewing evolution and innovations in technology from a multi-geography lens will add value to HCL as we expand our footprints globally," Chairperson Roshni Nadar Malhotra said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Mon, July 19 2021. 19:42 IST

RECOMMENDED FOR YOU

.