HCL Technologies has announced that its director and former CEO Vineet Nayar would quit the company. He resigned from the company's board to devote more time to his foundation.
 
He stepped down from the post of CEO in January this year to make way for the next generation of leaders to steer the company. He, however, continued to work as vice-chairman and joint managing director of the company.
 
The company said that Nayar, who has been a director in the company since 2008, has been appointed as senior advisor to HCL Technologies and HCL Corporation. 
 
Vineet will advise HCL Corporation on key strategic issues and also work with the board of HCL Technologies on initiatives such as driving a high performance culture amongst senior managers and new strategies for growth.
 
"Vineet has been a friend and a colleague for over two decades now. His bold ideas and passion for the organisation, has inspired many others to think and dream big. His contribution to HCL and the board has been a benchmark for others to follow and we all are very proud of him. On behalf of the board, I thank him for all that he has done and I look forward to his continued association with HCL as a senior advisor," said Shiv Nadar, chief strategy officer and chairman HCL Technologies.
 
Commenting on this exit, Nayar said, "There are very few organisations where one could rise up the ranks and become the CEO and vice chairman. I applaud Shiv for creating such a culture at HCL and thank him for his mentorship, guidance and friendship over these years."
 
"As I pursue my dream, of creating a 'Million Smiles' through Sampark Foundation, I carry with me goodwill, best wishes and lots of learning. I also hope to continue to add value to both HCL Technologies and HCL Corporation through my continued association. I wish all the HCLites, exciting and energized years ahead," said Nayar.