HCL Chairman Shiv Nadar steps down, his daughter, Roshni Nadar Malhotra takes over
HCL Technologies, Co-founder Shiv Nadar has stepped down from the position of the Chairman of the Board of directors. His daughter, Roshni Nadar Malhotra, currently a non-executive director has been appointed as the Chairperson of the Board of Directors with effect from July 17, 2020.
However, Shiv Nadar would continue to be the Managing Director of the company with the designation as the Chief Strategy Officer of the company, HCL Technologies said in a press release.
Commenting on the move, Shiv Nadar said, “We are living in unprecedented times where organizations and people across geographies are dealing with challenges related to the pandemic. However, this has also pushed businesses to accept the pandemic as a catalyst for change and look at building agility and resilience into every level of their organization,”
HCL CEO C Vijayakumar said “We as a company really pride ourselves in very strong succession planning, be it of the CFO, CEO or others… I’m sure this is also part of succession planning and the Board has made the time to make this announcement. And we’re all very happy with it.”
It may be noted that HCL also posted its Q1 company results today. The company reported a 31.70 per cent rise in net profit on a YoY (year-on-year) at Rs 2,925 crore. It is more than Rs 2,220 crore profit it posted in the corresponding quarter last year.