Shareholders approve re-appointment of Shiv Nadar as HCL Tech MD

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Published: October 16, 2017 7:40:48 PM

Shareholders of HCL Technologies have approved the re-appointment of Shiv Nadar as the Managing Director of the company for 5 years, up to January 2022, the software services firm today said.

Shareholders, HCL Technologies, Shiv Nadar, Software services, HCL, BSE filingShareholders of HCL Technologies have approved the re-appointment of Shiv Nadar as the Managing Director of the company for 5 years, up to January 2022, the software services firm today said.(Image: IE)

Shareholders of HCL Technologies have approved the re-appointment of Shiv Nadar as the Managing Director of the company for 5 years, up to January 2022, the software services firm today said.  Nadar will be eligible for salary, perquisites and allowances of Rs 5 crore per annum along with other benefits, HCL Technologies said in a BSE filing on the outcome of the company’s Annual General Meeting held on September 21.  As many as 95.93 per cent of the total votes cast were in favour of the special resolution on the re-appointment of Nadar as the MD of the company, as per the filing.

The resolution pertained to the re-appointment of Nadar “as the MD of the company under the designation of Chairman and Chief Strategy Officer for a period of five years from February 1, 2017 to January 31, 2022…”.  A break-up of the voting pattern across different shareholder categories showed that 100 per cent of the votes cast by promoter and promoter group were in favour of the resolution, while the number stood at 86.83 per cent among public institutional holders.  The retail shareholders category saw 99.9 per cent votes cast in favour of the proposal.

Other proposals considered in the meeting included appointment of Deepak Kapoor as an independent director, which was also passed at the AGM.
HCL Technologies is slated to announce its July-September 2017 quarter results on October 25.

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