Roshni Nadar takes charge at HCL Tech
NEWDELHI/MUMBAI: Roshni Nadar Malhotra, the only child of billionaire industrialist Shiv Nadar, has been named chairperson of HCL Technologies Ltd, India’s third largest information technology (IT) services firm, as part of a succession plan.
Nadar Malhotra, 38, a non-executive director and vice-chairman of HCL Technologies, has taken over as chairperson from July 17, as her 75-year-old father stepped down from the position.
Nadar, who set up the company in 1976, continues to be the managing director with the designation of chief strategy officer of HCL Technologies.
Peers and analysts said Nadar Malhotra, who has so far focused on the Shiv Nadar Foundation and worked in the shadow of her illustrious father, will come into her own with this step and infuse fresh energy into the more than four-decade-old company.
“Shiv Nadar is an institution in himself, one of the key architects of the technology and innovation ecosystem of our country. His intellect and passion have created a $10-billion legacy, which I am certain now under its new leader will reach greater heights. Roshni is a worthy successor and I look forward to seeing her lead the company with purpose, conviction and pride,” said CP Gurnani, managing director and chief executive officer (CEO) of Tech Mahindra.
This is part of the succession planning at the IT firm and there will be no change in strategy, C Vijayakumar, president and CEO, HCL Tech, said in a postearnings call on Friday.
HCL Tech, HCL Infosystems and HCL Healthcare are part of the $9.9 billion HCL Corp. Nadar Malhotra was appointed CEO and executive director of HCL Corp. in 2013 and offered strategic guidance to the organisation.
She was ranked 54th on the Forbes list of the world’s 100 most powerful women in 2019 and is the richest woman in India, according to IIFL Wealth Hurun India Rich List of 2019. She will now become the first woman to head an Indian publicly traded software firm.