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Shiv Nadar steps down as HCL chairman, daughter takes charge

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HCL Technologies co-founder Shiv Nadar has stepped down from the position of chairman of the board of directors and his daughter Roshni Nadar Malhotra, who held the position of a non-executive director, will now take over.

Roshni Nadar Malhotra will take over as the chairperson of the HCL board of directors from July 17, 2020.

It may be noted Shiv Nadar will continue to be the managing director of the company with a designation of chief strategy officer of the company, HCL said in a release.

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Commenting on the move, Shiv Nadar said, “We are living in unprecedented times where organisations 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 organisation.”

It may be noted that HCL also posted its Q1 company results on Friday. The company reported a 31.70 per cent rise in net profit on a YoY (year-on-year) basis at Rs 2,925 crore. It is more than the profit of Rs 2,220 crore it posted in the corresponding quarter last year.

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