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Business News/ Companies / Vineet Nayar to stay: HCL Technologies
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Vineet Nayar to stay: HCL Technologies

Vineet Nayar to stay: HCL Technologies

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New Delhi: HCL Technologies Ltd clarified that vice-chairman and chief executive Vineet Nayar is not resigning.

“As a one-time exception to our stated policy of not responding to speculations and rumors, HCL Technologies confirms that Mr. Vineet Nayar is and will continue to be the vice-chairman and CEO of the company and there is no change in the same," the company said in a filing to the Bombay Stock Exchange.

On Friday, Nayar sold 2.7 million equity shares in the firm, representing a 0.39% stake. The transaction was worth Rs133.58 crore. The company said Nayar offloaded the stake to support his philanthropic activities.

Several reports since have suggested that Nayar was on his way out and Anant Gupta, president of infrastructure services, will take over. Some also claimed that a few other officials were also quitting, which too the company denied.

Shares of HCL Technologies inched up 0.48% to Rs471.80 at 3.22 pm on the Bombay Stock Exchange, while the benchmark Sensex index was up 0.99% at 16,871.27 points.

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Published: 19 Jun 2012, 03:18 PM IST
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