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Shiv Nadar steps down as HCL Tech MD, C Vijayakumar to take over

Shiv Nadar steps down as HCL Tech MD, C Vijayakumar to take over
Image Source : FILE/PTI

Shiv Nadar steps down as HCL Tech MD, C Vijayakumar to take over 

Shiv Nadar, a pioneer within the Indian IT sector, has stepped down as the managing director and board member of HCL Technologies, a 12 months after handing over the reins of the IT main to his daughter, Roshni Nadar Malhotra. In July final 12 months, Nadar had stepped down from the chairman’s position and Roshni succeeded him, turning into the primary lady to chair a listed Indian IT agency.

The firm has appointed C Vijayakumar, president and CEO of the corporate, as the managing director with a title of CEO and MD for a time period of 5 years with impact from July 20.

Shiv Nadar, who has accomplished 76 years of age, will now take on the position of Chairman Emeritus and Strategic Advisor to the corporate’s board, in accordance to a regulatory submitting on Monday.

“In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the board…approved the appointment of Shri Shiv Nadar as the Chairman Emeritus and Strategic Advisor to the Board for a term of five years with effect from July 20, 2021,” the submitting stated.

It added that cost of remuneration or offering any amenities beneath this position shall be topic to shareholder approval.

Shiv Nadar is a pioneer of the computing and IT business in India. In 1976, he based the HCL Group that began off as a expertise {hardware} firm, manufacturing the nation’s first indigenous computer systems after which developed right into a extra complete software program companies world organisation.

Under Nadar’s management, HCL is credited with the primary ‘Made in India’ IT product improvements with the primary 8-bit microprocessor-based laptop in 1978 and the world’s first fine-grained multi-processor UNIX set up in 1989, amongst others. HCL performed a key position in supporting India’s telecom revolution by the creation of the most important cellular distribution community with Nokia.

Like his business peer Azim Premji, Nadar has additionally focussed his efforts on philanthropic actions and supporting numerous initiatives, together with round schooling. In 1994, the Padma Bhushan recipient established Shiv Nadar Foundation.

As of March 2021, the Shiv Nadar Foundation had invested round USD 988 million to create establishments of transformational schooling which can be nurturing India’s subsequent technology of leaders. The Foundation has immediately touched over 34,000 college students.

Notably, over the previous few years, promoters of assorted IT firms have carved out succession plans for the following technology. In 2019, Wipro had introduced Azim Premji will retire as government chairman of Wipro and his son Rishad, who was serving as chief technique officer and a board member at the moment, took over as the manager chairman of the corporate.

Recently, NIIT Ltd had introduced the growth of its board with 4 new members, together with promoters’ kids Udai S Pawar and Leher V Thadani.

In a separate regulatory submitting on Monday, HCL Technologies stated it has appointed former IBM government, Vanitha Narayanan to the board of administrators.

Narayanan, as a further director on the HCL Technologies’ board, will maintain workplace as an impartial director of the corporate, the submitting stated.

With the addition of Narayanan, the corporate’s board contains 4 ladies administrators.

Her appointment is efficient July 19, 2021.

In 2020, Vanitha retired after a profession spanning three a long time at IBM the place she held a number of key roles main massive companies in geographies like US, Asia-Pacific and India. These roles included serving as managing director and chairman of IBM India and different management positions within the world 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. She brings rich and diverse experience of navigating organisations through digital transformation journeys,” HCL Technologies Chairperson Roshni Nadar Malhotra stated.

Malhotra added that her deep information and understanding of the evolving advertising and expertise panorama shall be an incredible asset to HCL’s concentrate on driving development.

“Her expertise of viewing evolution and improvements in expertise from a multi-geography lens will add worth to HCL as we increase our footprints globally. We look ahead to working collectively.

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