Vineet Nayyar, the former Vice-Chairman of Tech Mahindra, passed away on Thursday at the age of 85. A towering figure in the Indian business landscape, Nayyar’s career spanned several decades and encompassed a range of leadership roles in both the public and private sectors.
Nayyar began his career as an Indian Administrative Service (IAS) officer. He then moved on to the World Bank, where he served for over 10 years in a series of senior assignments, including the Chief for the Energy, Infrastructure, and the Finance Divisions for East Asia and Pacific. He was also the first Chairman of state-owned GAIL (India) Ltd from 1986 to 1991.
In the private sector, Nayyar served as the Managing Director of HCL Corporation and as the Vice Chairman of HCL Technologies. He was also the founder & CEO of HCL Perot Systems. His leadership was instrumental in Tech Mahindra’s acquisition of fraud-hit Satyam in 2009.
Nayyar’s contributions extended beyond his primary roles. He served on the boards of various companies, including Indian Oil Corporation, Great Eastern Shipping, and Kotak Life Insurance. In October 2018, he was appointed as the Vice Chairman and Managing Director of crisis-hit Infrastructure Leasing and Financial Services (IL&FS) by the government. He resigned from the IL&FS board due to his health in 2020.
Mahindra Group Chairman Anand Mahindra expressed his condolences on X (formerly Twitter), writing, “It saddens me to share the news of the passing of Vineet Nayyar this morning. Vineet was a larger than life figure in the Indian Business landscape. Thank you Vineet, for your wisdom, your leadership and for committing the crowning part of your career to the Mahindra Group.”
It saddens me to share the news of the passing of Vineet Nayyar this morning.
Vineet was a larger than life figure in the Indian Business landscape.
A distinguished IAS officer, who then served with the World Bank, he became the first Chairman of GAIL
He then made a hugely… pic.twitter.com/ZLlfzNXJ2K
— anand mahindra (@anandmahindra) May 16, 2024
Nayyar’s passing is a significant loss for the Indian business community. His leadership, wisdom, and commitment to excellence have left an indelible mark on the organizations he served and the individuals he mentored. His legacy will continue to inspire future generations of leaders in the business world. Our thoughts are with his family and loved ones during this difficult time.
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