HCLTech names Shiv Walia as new Chief Financial Officer, succeeding Prateek Aggarwal

In a strategic move aimed at reinforcing its financial leadership, HCLTech, a prominent global technology company listed on the National Stock Exchange of India (NSE) under the ticker HCLTECH and the Bombay Stock Exchange (BSE) with the code 532281, has announced the appointment of Shiv Walia as the new Chief Financial Officer (CFO). This change, effective September 6, 2024, marks a significant transition as Walia succeeds Prateek Aggarwal, who will step down after a notable tenure that began on October 1, 2018. Aggarwal will remain with the company until the transition is complete.

Shiv Walia, a long-standing member of the HCLTech team, brings a wealth of experience to the role. Having started his career with the company in 1993, Walia’s journey within HCLTech has seen him assume several key finance leadership roles. Currently serving as the Corporate Vice President and Global Head of Financial Planning and Analysis (FP&A) and Business Finance Operations, Walia has been instrumental in shaping HCLTech’s financial strategies and overseeing critical operations.

Leadership Transition and Future Outlook

C Vijayakumar, the CEO and Managing Director of HCLTech, expressed strong confidence in Walia’s ability to lead the company’s financial operations. Vijayakumar highlighted Walia’s extensive experience and deep understanding of the company’s operations, stating, “Shiv Walia has been integral to our success over the last many years. As a seasoned finance leader, he has played key roles across our various geographies and businesses through multiple business cycles and has extensive knowledge of HCLTech’s businesses and clients.” Vijayakumar further emphasized Walia’s ability to navigate technological shifts and drive the company’s continued growth, noting, “His 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.”

Shiv Walia’s Extensive Background

Shiv Walia’s professional journey is marked by significant achievements and a diverse range of experiences. He holds a degree in Commerce from Shri Ram College of Commerce (SRCC), Delhi, and has earned credentials as a Cost Accountant and Chartered Accountant in both India and Australia. Walia’s tenure with HCLTech began in April 1998, following his earlier roles within HCL subsidiaries from April 1993 to March 1998. His career spans over three decades, during which he has held pivotal positions in finance across multiple global markets, including India, Singapore, Australia, and the United Kingdom.

In his recent role as Corporate Vice President – Finance, Walia was responsible for Financial Planning and Analysis, as well as overseeing the finance operations of HCLTech’s acquired entities. His extensive background and strategic insights are expected to drive HCLTech’s financial planning and operational efficiency moving forward.

Acknowledging Prateek Aggarwal’s Contributions

As HCLTech prepares for this leadership transition, the company acknowledges the significant contributions of Prateek Aggarwal. Vijayakumar expressed appreciation for Aggarwal’s dedicated service over the past 12 years and wished him success in his future endeavors. Aggarwal’s tenure has been marked by substantial achievements in enhancing HCLTech’s financial performance and strategic positioning.

Industry Context and HCLTech’s Financial Strategy

HCLTech’s decision to appoint Shiv Walia aligns with its broader strategy to strengthen its financial leadership amid a rapidly evolving technological landscape. The company has been focusing on expanding its global footprint and enhancing its capabilities in key areas such as digital transformation, cloud computing, and cybersecurity. The new CFO’s role will be crucial in navigating these changes and ensuring continued financial stability and growth.