HCL Tech Appoints Shiv Walia As New CFO, Prateek Aggarwal To Step Down

HCL Technologies Ltd. announced the appointment of Shiv Walia as the new Chief Financial Officer on Monday, effective from the close of business on Sept. 6. The announcement comes after the resignation of the current CFO, Prateek Aggarwal, who has decided to pursue opportunities outside of HCLTech, according to the exchange filing. 

The decision was finalised during a board of directors meeting on Sunday, where the recommendations of the nomination and remuneration committee and the audit committee were also considered.

Walia, who has been a part of HCLTech for over three decades, will now step into this role, assuming the responsibilities of the CFO and key managerial personnel of the company.

Walia, who is currently serving as the corporate vice president and global head of financial planning, analysis and business finance operations, started his career with HCL in 1993.

"His (Walia's) financial acumen, international experience, and pragmatic approach will be invaluable as we respond to technology shifts with speed and continue our profitable growth journey over the coming years," said C Vijayakumar, CEO and MD of HCLTech. 

Aggarwal, who has served as CFO since October 2018, will continue in his role until Sept. 6.

Vijayakumar added, "I also want to thank Prateek for his contributions to HCLTech over the last 12 years and wish him the very best for his future endeavours."

Aggarwal, in his resignation letter, expressed his gratitude for the opportunity to serve the company and his admiration for its entrepreneurial spirit. He assured a smooth transition and assistance in the handover process.

Shares of the IT company closed 0.61% higher at Rs 1678.50 per share, compared to a 0.13% advance in the NSE Nifty 50. The stock has risen 42.34% year-to-date and 14.49% over the past 12 months.