HCL Technologies announced on Monday that Shiv Nadar, the company’s founder, will serve as Chairman Emeritus and Strategic Advisor to the board of directors. According to a regulatory filing, Nadar, the company’s Chief Strategy Officer and Managing Director, has tendered his resignation as MD and Director with effect from close of business hours on July 19, as he approaches his 76th birthday.
‘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 Shiv Nadar as the ‘Chairman Emeritus and Strategic Advisor to the Board’ for a term of five years with effect from July 20, 2021,’ it added.
Nadar stepped down as Chairman in July of last year, and his daughter, Roshni Nadar Malhotra, took over. Roshni was the first Indian woman to lead a publicly traded IT company. Shiv Nadar is a pioneer in India’s computing and information technology industries.
He founded the HCL Group in 1976, which began as a technology hardware company, producing the country’s first indigenous computers, and has since evolved into a more comprehensive global software services organisation.
In 1994, he founded the Shiv Nadar Foundation, a philanthropic organization. The Shiv Nadar Foundation had invested around USD 988 million in transformational education institutions that are nurturing India’s next generation of leaders as of March 2021.
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