Information technology (IT) company HCL Technologies has undergone major changes on Friday (17 July). The company said that Shiv Nadar has stepped down as chairman. Nadar's daughter Roshni Nadar malhotra has replaced her with immediate effect. Roshni is also India's richest woman and is the first woman to head a listed Indian IT company.
The company said that the board of directors has decided to appoint Shiv Nadar's daughter and the company's non-executive director Roshni Nadar Malhotra as the board and chairman of the company. Her appointment is effective from Friday (July 17). The company said that Shiv Nadar had expressed his desire to step down and he would remain the company's MD with the designation of Chief Strategy Officer.
So who is Roshni Nadar Malhotra?
According to Forbes in the year 2019, Roshni Nadar Malhotra was 54th in the list of the world's 100 most powerful women. Also, according to the IIFL Wealth Hurun India Rich List, she is the richest woman in India. Talking about her early life, she grew up in the national capital, Delhi. Studied at Vasant Valley School. Roshni is an alumnus of Northwestern University. She majored in communications, with a focus on radio / TV / film.
She holds a master's (MBA) in business administration from the Kellogg School of Management and has been focused on social enterprise management and strategy.
Prior to joining HCL, she worked as a producer in several companies. She also worked with Sky News UK and CNN America as a news producer. Within a year of joining HCL, she was promoted as executive director and CEO of HCL Corporation. Also, she is the founder of HCL and The Habitats Trust in 2018, a coalition of passionate individuals coming together with the aim of securing key habitats and their indigenous species.
According to the latest Hurun Rich List, Roshni is India’s richest woman with a net worth of ₹36,800 crore.
She also worked as a trustee of Shiv Nadar Foundation before becoming the CEO of HCL Corporation. She is also the chairperson of the VidyaGyan Leadership Academy, which runs the academy for the economically weak.
Roshni married Shikhar Malhotra in 2010. Shikhar works as Vice Chairman of HCL Healthcare. The couple has two sons Armaan and Jahan. As a trustee, Shikhar plays many roles in the Shiv Nadar Foundation and aims to shape his vision of nation-building through transformational leadership. He is also the founding CEO of Shiv Nadar schools. Shikhar co-founded The Habitats Trust in 2018 with his wife.
Due to her outstanding work in business and philanthropy, she has received many honors and accolades. She was included in the list of 100 most powerful women in the world compiled and released by Forbes in 2017, 2018, and 2019. Also, she was awarded the Lewis Institute Community Changemaker Award by Bubson College in 2017. Recognized by Horacis, an internationally renowned think tank as Indian Business Leader of the Year 2019.
HCL Technologies also reported that its net profit in the June 2020 quarter increased by 31.7% to Rs 2,925 crore. The company told the stock market that it had reported a net profit of Rs 2,220 crore in the April-June 2019 quarter. The company's revenue grew 8.6% to Rs 17,841 crore in the quarter under review, from Rs 16,425 crore in the same quarter last year. However, there has been a decrease of around 4% in income over the March 2020 quarter.