HCL Technologies announced that their founder Shiv Nadar will be taking on the role of Chairman Emeritus and Strategic Advisor to the company's board.
On completing 76 years of age, Shiv Nadar has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing.
The step down brings an end to a path-breaking journey of a man who started manufacturing India's first indigenous computers in 1976 and then evolved the company into a more comprehensive software services global organization.
Under Nadar's leadership, HCL is credited with the first 'Made in India' IT product innovations with the first 8-bit microprocessor-based computer in 1978 and world's first fine-grained multi-processor UNIX installation in 1989, among others. It also played a key role in supporting India's telecom revolution through the creation of the largest mobile distribution network with Nokia.
In 1994, he established the philanthropic organization, Shiv Nadar Foundation. As of March 2021, the Shiv Nadar Foundation had invested around USD 988 million to create institutions of transformational education that are nurturing India's next generation of leaders.
Replacing him at the company is C Vijayakumar - current President and CEO of the company - who will be appointed as the Managing Director with the title of CEO and MD for five years. It would be interesting to see what direction he takes to expand the company’s brand exposure.
(picture credits- MoneyControl.com)