Noida-based HCL Technologies has said that its board of directors has approved the resignation of Shiv Nadar as managing director and has appointed him as chairman emeritus and strategic advisor to the board.
According to a regulatory filing given to the Bombay Stock Exchange, C. Vijayakumar has been appointed as the Managing Director of HCL Technologies. “Shiv Nadar, Chief Strategy Officer and Managing Director of the Company, has tendered his resignation as the Managing Director of the Company as well as Director of the Company with effect from the close of business hours on July 19, 2021, on attaining the age of 76 years The filing noted.
The HCL Tech statement read as flow: “In order to benefit from its vast knowledge, experience and knowledge in an advisory role, the Board of Directors, in its meeting held today, decided to consider the recommendations of the ‘Nomination and Remuneration Committee’. has approved the appointment of Shiv Nadar as ‘Honorary Chairman and Strategic Adviser of the Board’ for a period of five years with effect from July 20, 2021. Payment of remuneration or providing any facility under this role will be subject to the approval of the shareholders.”