- Shiva Nadar steps down from the position of Chairman of HCL Technologies
- Daughter Roshni will take charge of the role
- Shiv Nadar will remain the MD of the firm
Co-Founder of HCL Technologies, Shiv Nadar has stepped down from the role of the Chairman of the Board of Directors (BoD) and the role will now be fulfilled by his daughter Roshni Nadar Malhotra who has held the position of a non-executive director in the past.
From yesterday onwards i.e. 17th July 2020, Roshni Nadar Malhotra is the Chairperson of the HCL Board of Directors.
Having said that, Shiv Nadar will retain his position of the Managing Director (MD) of the firm with the designation of the Chief Strategy Officer (CSO) of HCL Technologies, the firm said in a press release.
Commenting on the decision, MD of HCL Technologies, Shiv Nadar said, “We are living in unprecedented times where organizations and people across geographies are dealing with challenges related to the pandemic.”
He added, “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 Technologies posted the Q1 results the same day Shiv Nadar announced of stepping down. The firm reported an increase of 31.70% in Year-on-Year (YoY) Net Profit which stood at Rs. 2,925 crore.
In the corresponding quarter last year, the company posted a profit of over Rs. 2,200 crore.