HCL Technologies said on Monday that its founder Shiv Nadar has stepped down as the Managing Director of the company and has been appointed Chairman Emeritus and Strategic Advisor to the company’s board. Nadar, who was the MD and Chief Strategy Officer, tendered his resignation with effect from the close of business hours on July 19, as mentioned in a regulatory filing.”In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the Board of Directors in its meeting held today, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of Shri Shiv Nadar as the ‘Chairman Emeritus and Strategic Advisor to the Board’ for a term of five years with effect from July 20, 2021,” it added.
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