Vineet Nayar appointed JMD of HCL Tech for 5 years

HCL Technologies Ltd has appointed Mr. Vineet Nayar as the Joint Managing Director (JMD) of the India’s fourth largest locally-listed software exporter company, in a meeting of the Board of Directors of the Company held on May 14, 2012. However, it is subject to the approval of the Shareholders, HCLT informed The Bombay Stock Exchange (BSE).

Mr. Nayar is present CEO (since 2007) and Vice-Chairman (since 2010) of $3.9 billion global information technology services company. His tenure as JMD will be effective for a period of 5 years from today and his remuneration shall remain unchanged.

Vineet joined HCLT in 1985 after earning his MBA from XLRI. He is an acknowledged management visionary and a radical thinker who architected the company’s “Employees First, Customers Second (EFCS)” strategy.In 1993, he founded Comnet, where he incubated the Remote Infrastructure Management (RIM) industry, which is today a multi-billion dollar IT outsourcing segment. It was at Comnet that Vineet developed and implemented many groundbreaking policies and practices, which became core to the EFCS philosophy.

In 2005, Vineet became President of HCL Technologies and during the next five years the Company saw its employee base expand from 30,000 to in excess of 75,000 whilst also tripling its revenues. Today HCL employs over 85,000 people across the globe and continues to expand in size and scale under Vineet’s leadership.