Roshni Nadar replaces her father as HCL chief

Father & daughter: Shiv Nadar and Roshni Nadar
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Father & daughter: Shiv Nadar and Roshni Nadar

Highlights

Founder Shiv Nadar will guide as Chief Strategy Officer; She is India's wealthiest woman

New Delhi: IT major HCL Technologies on Friday announced that its Chairman Shiv Nadar was stepping down and his daughter Roshni Nadar Malhotra will succeed him with immediate effect. Believed to be India's wealthiest woman, Nadar's daughter will now be the new chairperson of the IT major. The appointment of non-executive director Roshni Nadar Malhotra to the new role takes effect immediately, the company said.

Shiv Nadar, however, will continue to be HCL's Managing Director, with a new designation of chief strategy officer. "Shiv Nadar, who expressed his desire to step down from position of Chairman. Nadar would continue to be MD of the company with designation as Chief Strategy Officer," the company said in a regulatory filing.

Roshni Nadar Malhotra has held the posts of executive director and CEO of HCL Corporation, vice chairperson of the board of HCL Technologies, and is also a trustee of the Shiv Nadar Foundation. At HCL Corporation, Roshni has had the task of providing strategic advice to the organisation.

She has done her schooling from Vasant Valley School in the national capital and later graduated from the Northwestern University in Illinois, United States. She has done her Master's in Business Administration from the Kellogg School of Management, Northwestern University.

HCL Technologies on Friday registered a 31.7 per cent rise in its consolidated net profit for the June 2020 quarter at Rs 2,925 crore, and further said it expects to see a growth trajectory in the coming quarters.

The Noida-based IT firm, which had posted a net profit of Rs 2,220 crore in the April-June 2019 quarter, has said it will not offer any salary increments to its staff in the current fiscal.

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