Press Release Summary: Shiv Nadar, Founder HCL and Chairman, HCL Technologies, announced that Vineet Nayar, President HCL Technologies will assume the CEO chair with effect from October 16, 2007. Shiv Nadar will be the Chairman and Chief Strategy Officer of HCL Technologies.
Press Release Body: Shiv Nadar, Founder HCL and Chairman, HCL Technologies, announced that Vineet Nayar, President HCL Technologies will assume the CEO chair with effect from October 16, 2007. Shiv Nadar will be the Chairman and Chief Strategy Officer of HCL Technologies. Commenting on the appointment, Shiv Nadar said, "HCL has been the Pioneer of Modern Computing in India. Three decades ago, six first generation entrepreneurs began their journey that created several landmarks in IT- from shipping out the first PC in 1978 to Remote Infrastructure Management (RIM) in 2001. Over the years, we have developed time-tested ability to spot inflection points and have been ahead of the industry, and proactively adapting to the changing world dynamics.
HCL Technologies has also been a nurturing ground for several entrepreneurs and business leaders and the empowerment that the Employee First policy gives bright individuals in the company paves way for development of future leaders for the industry.
Vineet Nayar joined the company as a management trainee in 1985, was appointed the President of HCL Comnet in 1994. He took over as the company's President since 2005, and I slowly moved away from the daily operations of the company. It has always been important for me to place the company's interests over any individual. Vineet is the right candidate to lead the company at this juncture as the CEO and continue the momentum of growth we have had in the past two years.
The board has felt that having both an executive chairman and a CEO would best serve the organization. I will continue to oversee the company's strategic initiatives through incubation of new ideas, promote good governance and ensure that the company is insulated from risks. I will also be overseeing the BPO business of the company as it needs more nurturing."
Vineet Nayar, CEO of HCL Technologies commented, "I have had a long and rich association with HCL where I have had the opportunities to be disruptive in my thinking and create differentiated models for growth. We will continue to drive the Transformational strategy and continue to focus on Trust, Transparency and Flexibility, that has created the differentiating factor in our customer engagements."
In his new role, Mr. Nadar would mentor the HCL core management team and provide Thought Leadership to them in their endeavour to be the most disruptive and transformational corporation providing technology-leveraged business solutions to corporations across the world. He will also focus on initiatives to bring the benefits of IT to every section of the society, in India and globally.
About HCL Technologies
HCL Technologies is one of India\'s leading global IT Services companies, providing software-led IT solutions, remote infrastructure management services and BPO. Having made a foray into the global IT landscape in 1999 after its IPO, HCL Technologies focuses on Transformational Outsourcing, working with clients in areas that impact and re-define the core of their business. The company leverages an extensive global offshore infrastructure and its global network of offices in 18 countries to deliver solutions across select verticals including Financial Services, Retail & Consumer, Life Sciences & Healthcare, Hi-Tech & Manufacturing, Telecom and Media & Entertainment (M&E). For the quarter ended 30th September 2007, HCL Technologies, along with its subsidiaries had last twelve months (LTM) revenue of US $ 1.5 billion (Rs. 6363 crores) and employed 45,622 professionals. For more information, please visit www.hcltech.com
About HCL Enterprise
HCL Enterprise is a leading Global Technology and IT enterprise that comprises two companies listed in India - HCL Technologies & HCL Infosystems. The 3-decade-old enterprise, founded in 1976, is one of India\'s original IT garage start-ups. Its range of offerings span Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises approximately 51,000 professionals of diverse nationalities, who operate from 18 countries including 360 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.in
Web Site: http://www.hcltech.com
Contact Details: Geetanjali Bhatia External Communication HCL Technologies India
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