One of India’s largest family businesses is keeping observers guessing on succession, despite speculation in the Indian media that a successor has been chosen.
Holding company HCL Corporation, which controls a number of telecoms and IT businesses, would not confirm that Roshni Nadar will succeed her father Shiv Nadar as chairperson. That’s despite a report in the leading Indian newspaper the Hindustan Times saying Roshni, 31, will succeed her father.
A spokeswoman for the family told CampdenFB that HCL could neither deny nor confirm that only-child Roshni Nadar would take over from her father.
“From our perspective there is no story at all. It is a conversational piece of news,” said a spokesperson, referring to the Hindustan article. “HCL is a holding company and a family-owned entity. It is natural to talk in passing about it being received by the next generation.”
The spokeswoman added: “Roshni has no operational involvement in either of the subsidiary company, both of which are professionally controlled. Her major involvement in the company is through the [Shiv Nadar] foundation.”
HCL Corporation is the holding company of two publicly listed firms: HCL Technologies, India’s fourth-largest software services firm, and HCL Infosystems, a hardware company manufacturing personal computers and tablets. Current chairman Shiv Nadar established HCL in 1976 as one of India’s first garage start-ups.
The Nadar foundation is an Indian education initiative. Roshni holds an MBA in social enterprise and has also been involved in brand redevelopment across the HCL group.