Shiv Nadar’s reappointment as HCL Tech MD approved by shareholders
New Delhi: Shareholders of HCL Technologies Ltd have approved the reappointment of Shiv Nadar as the managing director of the company for five years, up to January 2022, the software services firm Monday said.
Nadar will be eligible for salary, perquisites and allowances of Rs5 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 21 September.
As many as 95.93% of the total votes cast were in favour of the special resolution on the reappointment of Nadar as the managing director 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 1 February 2017 to 31 January 2022...”.
A break-up of the voting pattern across different shareholder categories showed that 100% of the votes cast by promoter and promoter group were in favour of the resolution, while the number stood at 86.83% among public institutional holders.
The retail shareholders category saw 99.9% 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 25 October.