In a major power transition, HCL's Chairman Shiv Nadar has stepped down from the post on Friday letting his daughter and India's richest woman succeed him to lead the Indian based tech-giant worth of $9.9 billion. 

Paving the way for his daughter 38-year-old Roshni Nadar Malhotra to take over the company's reign, Shiv Nadar (75) will be staying as the company's Managing Director and he will also hold the role of Chief Strategy Officer. The company has said its board of directors has appointed Roshni Nadar Malhotra, Non-Executive Director, as Chairperson of the Board and company with effect from Friday -July 17, replacing Shiv Nadar. 

Before replacing her father, Roshni Nadar had been serving as the Executive Director and Chief Executive Officer (CEO) of HCL Corporation and prior to that, she has held as the Vice-Chairperson on the Board of HCL Technologies and the Chairperson of its CSR Committee and she was also the trustee of the Shiv Nadar Foundation. 

In 2013, she was inducted as an additional director of the HCL's Tech board and she was later elevated as the Executive Director and CEO of HCL Corporation, which is the holding company of HCL Tech and HCL Infosystems. Malhotra has been deeply engaged in brand building activities across the HCL group over the years. 

According to IIFL Wealth Hurun India Rich List 2019, Roshni Nadar is the richest woman in India and she was also ranked 54th on the Forbes 2019 World's 100 Most Powerful Women list. She established 'The Habitats Trust in 2018' as she has a passion for wildlife and conservation. The organization has been working with the aim of protecting India's natural habitats and its indigenous species. 

Roshni grew up in Delhi and studied in Vasant Valley School. She graduated with a specialization in communication from Northwestern University. Following graduation, she has completed a Masters in Business Administration from Kellogg School of Management in the United States. According to the IIFL Wealth Hurun India, Roshni has a net worth of Rs 31,400 crore in 2019.

HCL's Managing Director Shiv Nadar said that the current situation has pushed the businesses to accept the pandemic as a catalyst for change and look at building agility and resilience into every level of their organization. He further stated that HCL, along with its partners, is helping customers embrace digital transformation and innovation to emerge stronger in this new normal. 

Roshni Nadar is Shiv Nadar's only child and in 2010, she has married Shikhar Malhotra, who is the Vice Chairman of HCL Healthcare.