Shiv Nadar, the co-founder of HCL Technologies, had stepped down as the Managing director, effective July 19, 2021. Shiv Nadar would still continue as a Chairman Emeritus and Strategic Advisor to the Board. The HCL Group was founded in 1976 by Shiv Nadar and seven others.
A BSE filing mentioned that Shiv Nadar on the completion of 76 years of age had tendered his resignation as the Managing Director as well as the Director of the Company with the effect from close of business hours on July 19, 2021.
Shiv Nadar was the Chief Strategy Officer and the Managing Director of the Company.
The company in a statement has said that C Vijayakumar has been appointed as the Managing Director who was the CEO of the company. In the previous year his daughter, Roshni Nadar-Malhotra was appointed as the chairperson of the company.
In India, Shiv Nadar was one of the pioneers of the computing and IT Industry. The HCL group was founded by Shiv Nadar in 1976, which led the computing revolution as India’s original garage startup, and under his guidance, the company continued to ride the waves of the changing IT landscape for over 45 years.
The HCL company started off as a technology hardware company, and manufactured the first indigenous computers for the country and introduced it to Indian customers, and evolved into software services global organization. The company is one of the few global IT companies founded in the early ’70s and has still remained to exist to date.
Shiv Nadar, the founder of HCL, is the third richest person in India and is ranked as the 71st richest person globally. His net worth is USD 23.5 billion.