Shiv Nadar of HCL has quietly completed his succession planning by elevating his daughter Roshni Nadar as the executive director and CEO of HCL Corporation, the holding company of HCL Tech and HCL Info.
Roshni, an MBA from the Kellogg Graduate School of Management, joined the company in April.
HCL with a turnover of over Rs 5,000 crore is the fifth largest IT company in the country. Its market capitalisation is around Rs 12,500 crore and annual profit is around Rs 1,000 crore.
After finishing her college. Roshni tried her hand in TV journalism with Sky Television. It is learnt that she had covered the US attack on Iraq very closely in 2003. She was one of the first few journalists who covered the arrest of Iraq’s dethroned president Saddam Hussein.
Nadar clarified that Roshni will only be responsible for the holding company and not for any of the operational companies in which HCL has a stake. She will also be in charge of the treasury operations as well, Nadar said on Wednesday.
“These organisations are run by highly corporatised boards. And with an organisation structure, at the moment, she is responsible for the holding company. She runs the treasury, all the new investment decisions will be taken by her,” he said.
Nadar said Roshni will steer the future directions for the company. HCL Corp owns 44.3% stake in HCL Info and 49.6% stake in HCL Tech.
The company is in the midst of absorbing the UK-based SAP implementing company Axon, which it had acquired for $800 million in early 2008. Because of the recession in the developed world, the main markets for exports, Indian software companies are facing one of the toughest challenges in the recent times for maintaining growth.
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