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Shiv Nadar steps down as HCL Tech chairman; daughter Roshni Nadar Malhotra to replace him

Shiv Nadar steps down as HCL Tech chairman; daughter Roshni Nadar Malhotra to replace him

Shiv Nadar steps down as HCL Tech chairman; daughter Roshni Nadar Malhotra to replace him
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By Kritika Saxena  Jul 17, 2020 3:10:18 PM IST (Updated)

The next generation is set to take over the chairperson seat at HCL Tech with Roshni Nadar Malhotra being appointed for the post with immediate effect. Shiv Nadar will be stepping down from the chairman's post but will retain his MD position. He will also be appointed the chief strategy officer of the company and will oversee the strategic direction of the firm.

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In its release, HCL Tech said, "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."
Roshni is also the executive director of HCL Enterprise and is the only child of Shiv Nadar. The 38-year-old was ranked 54th on the Forbes' World's 100 Most Powerful Women list in 2019. She is also considered one of the wealthiest women in the country. In 2019, IIFL Wealth Hurun rankings estimated her wealth at Rs 36,800 crore.
Roshni graduated with a Master's degree in Business Administration from the Kellogg School Of Management. She worked as a producer in various companies prior to joining the HCL Group. Within a year of her joining HCL Tech, she was elevated as the CEO and executive director of HCL Corporation.
Roshni has also played a critical role in growing and defining the vision of the Shiv Nadar Foundation as a trustee. Aside from CSR, she has also overseen the group's education focus. She is also the chairperson of VidyaGyan Leadership Academy, a leadership academy for the economically underprivileged.
HCL Tech will be the second IT company to appoint gen-next to take over the top seat. Earlier, Rishad Premji was appointed chairman of Wipro, replacing his father Azim Premji, in July 2019.
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