Vineet Nayyar to become Tech Mahindra Vice Chairman

Tech Mahindra, India's fifth-largest software services firm on Wednesday said its Executive Vice Chairman Vineet Nayyar will assume the role of Vice Chairman of the firm with effect from August 10.

"Nayyar's term as Executive Vice Chairman of the company expires at the close of business hours on August 9, 2015. The Board of Directors (have) appointed him as an Additional Director.

"He will be a non-executive director and has been designated as 'Vice Chairman'," the Mumbai-based firm said in a filing to the Bombay Stocking Exchange (BSE).

Besides, the Board has approved the appointment of V S Parthasarathy as an Additional Director.

"Both these appointments will be effective from August 10, 2015," the company added.

In a career spanning over 40 years, Nayyar has worked with the Government of India, international multilateral agencies and in the corporate sector (both public and private).

He worked with the World Bank for over 10 years and was the founding Chairman and Managing Director of state-owned Gas Authority of India (GAIL). He has also served as the managing director of HCL Corporation and as the Vice Chairman of HCL Technologies.

In addition to his responsibilities at Tech Mahindra, Nayyar has served as a director on the boards of Venturbay Consultants, Mahindra Logisoft Business Solutions, Mahindra Holidays and Resorts India, The Great Eastern Shipping Company, Greatship (India), Vidya Investments and Tech Mahindra Foundation.