New Delhi, NFAPost: HCL appoints Shiv Nadar as Chairman Emeritus and Strategic Advisor To Board after accepting resignation as Chief Strategy Officer and Managing Director.
Shiv Nadar, Chief Strategy Officer & Managing Director of HCL, on Monday tendered his resignation as the Managing Director as well as the Director of the Company with effect from July 19, 2021. His resignation comes after completing 76 years of age.
In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, HCL Board of Directors in its meeting held on Monday, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of 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 payment of remuneration or providing any facilities under this role will be subject to the approval of the shareholders.
In place of Shri Shiv Nadar, the Board of Directors, after considering the recommendations of the Nomination & Remuneration Committee, and subject to the shareholders and regulatory approvals, appointed HCL President & CEO C Vijayakumar as the company’s Managing Director of the Company with a title of CEO & Managing Director’ for a
term of five years with effect from July 20, 2021.
Shiv Nadar is one of the pioneers of the computing and IT industry in India. In 1976, he founded the HCL Group, leading the computing revolution as India’s original garage startup. Under his guidance, HCL has continued to ride the waves of the changing global IT landscape for over 45 years.
A visionary, Shiv Nadar made HCL an engine of innovation and invention turning dreams into reality. Under his leadership, HCL is credited with the first ‘Made in India’ IT product innovations– the first 8-bit microprocessor-based computer in 1978, the first Relational Database Management System in 1983 before some of its global peers, client-server architecture in 1984, world’s first fine-grained multi-processor UNIX installation in 1989, among others.
A pioneer in Remote Infrastructure Management, HCL was instrumental in implementing and managing the infrastructure backbone of one of India’s tallest financial institutions – the National Stock Exchange. HCL played a key role in supporting India’s telecom revolution through the creation of the largest mobile distribution network with Nokia. HCL Technologies, which spun out of HCL’s R&D unit, is currently the third-largest IT Services firms headquartered out of India.
With his strategic vision and leadership, HCL Technologies has achieved the distinction of the Number 1 position in 2 out of the 4 large service lines that power the Indian IT services industry – Engineering & R&D Services and Infrastructure Management Services. Its stellar success in next-generation Digital Services and its recent foray into Software Products, helped HCL Technologies surpass the 10 B$ Revenue milestone in FY21. With this, HCL Technologies is now among the top 10 global IT Services firms in the world.
Throughout his career, he always acknowledged that building successful institutions is dependent on forging result-oriented partnerships and creating new knowledge. He steered HCL to create several valuable joint ventures and alliances with marquee partners such as Hewlett Packard, Cisco, Perot Systems, Deutsche Bank and Toshiba among
others that aided the organization’s emergence as a global technology enterprise.