Hours earlier it announced its minute quarter results, HCL Technologies on Fri announced that it has a novel principal executive officer. The company said its CEO Anant Gupta has resigned as well as volition live on replaced past times C Vijayakumar who was the principal operating officer. On his part, Gupta took footling time to denote the launch of Techcelx, a draw of piece of work organization acceleration as well as applied scientific discipline investment theatre focused on developing digital products as well as platforms for enterprises.
Though the succession was planned, the timing took everyone past times surprise, including a host of senior managers at HCL. At HCL Technologies, ordinarily a six-month transition menstruation is given to the incumbent CEO, who for the field holds the set of COO. In Vijayakumar’s case, it was merely four months.
“What nosotros know is that inwards July 2016, Vijayakumar was announced every bit the adjacent CEO of the fellowship as well as Gupta was supposed to mitt over the reigns in December. But this was a abrupt determination which nosotros came to know virtually afterwards the board coming together on Fri morning. Chairman Shiv Nadar as well as the board members took the determination to direct keep Gupta’s resignation,” said a fellowship insider. Sources also added that inwards the past times 48 hours, during the meetings of the boards of directors, the determination was taken.
While about people claimed the determination was taken past times the transcend boss, Nadar, who was patently unhappy alongside the company’s overall performance, others said it was Gupta who wanted an early on difference because he was on the verge of launching his ain start-up.
“Nadar holds a meaning chunk of the fellowship shares as well as he was concerned alongside the increment of the fellowship for the past times few quarters,” said a source who has worked alongside HCL Technologies inwards the recent past.
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