New Delhi: IT firm HCL Technologies has announced that founder and billionaire Shiv Nadar has stepped down from the Chairman’s role. Nadar’s daughter, Roshni Nadar Malhotra, will succeed him with immediate effect. Shiv Nadar will be stepping down from the position of the Chairman but will retain the position of company’s managing director.
Nadar will also be appointed as company’s chief strategy officer as he will continue to oversee strategic direction of the firm.
“The Board of Directors has appointed Ms. Roshni Nadar Malhotra, Non-Executive Director as the Chairperson of the Board of Directors and the Company w.e.f. July 17, 2020, in place of Mr. Shiv Nadar who expressed his desire to step down from the position of the Chairman. Mr. Shiv Nadar would continue to be the Managing Director of the Company with the designation as the Chief Strategy Officer of the Company,” company’s release said.