News: Shiv Nadar steps down as Chairman, Roshni Nadar Malhotra takes over


Shiv Nadar steps down as Chairman, Roshni Nadar Malhotra takes over

Shiv Nadar would continue to be the Managing Director of the company with the designation as the Chief Strategy Officer of HCL Technologies.
Shiv Nadar steps down as Chairman, Roshni Nadar Malhotra takes over

Roshni Nadar Malhotra, the daughter of Shiv Nadar who founded HCL along with Ajai Chowdhry, Arjun Malhotra and five others, is all set to take over the responsibilities of the Chairperson of the Board of Directors with effect from July 17, 2020.

Nadar founded HCL in the mid-1970s and transformed the IT hardware company into an IT enterprise over the next three decades by constantly reinventing his company's focus. In 2008, he was even awarded Padma Bhushan for his efforts in the IT industry. Besides IT Nadar's focus has also been on education and healthcare. Nicknamed by friends as 'Magus' (Old Persian for "wizard"), since the mid-1990s has focused his efforts on developing the educational system of India through the Shiv Nadar Foundation. His daughter, Roshni had also been serving as the trustee of the Shiv Nadar Foundation, which runs on the not-for-profit Sri Sivasubramaniya Nadar College of Engineering in Chennai.

Roshni had also been involved in brand building across the HCL Group. before joining HCL, she worked in various companies as a producer. And now Nadar passes on the reign to Roshni and entrusts her with new responsibilities. 

As Roshni takes over the responsibilities, she has newer challenges ahead of her with the pandemic impacting the revenues of all Indian IT firms as global customers cut down on IT spending and have put several projects on hold. HCL Technologies reported a 7.3% drop in net profit at Rs. 2925 crore for the three months ending 30 June 2020 as compared to the same period last year.

While announcing the company's financial results for the June quarter of fiscal year 2020-21, Shiv Nadar said, “We are living in unprecedented times where organizations 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 organization.”

How under the new leadership of Roshni HCL keeps its promise to emerge stronger in this new normal by leveraging digital momentum and sustainable business practices is to look forward to. 

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Topics: Leadership, Appointments, #Movements

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