HCL founder and chairman Shiv Nadar has stepped down as managing director as well as from the board of the company. He will remain as chairman emeritus & strategic advisor for HCL Technologies, the company said.
C Vijayakumar, President and CEO will also be the managing director for five years, HCL Technologies informed in a BSE filing. Nadar’s daughter Roshni Malhotra-Nadar took over as chairperson of HCL technologies last July.
In 2008, Nadar was honoured with the Padma Bhushan.
For over a decade, Nadar has stepped away from running HCL, trusting his executives to build the business, while he focused on setting strategy and philanthropy as the chairman of the Shiv Nadar Foundation.
Like Azim Premji, who stepped down as the chairman of Wipro in July last year to focus on philanthropy, Nadar believes India needs foundations that would build solutions at scale to solve problems in society.
Image Credit : Business Standard
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