HCL Infosystems makes 3 new subsidiaries operational
VARINDIA- INDIA'S FRONTLINE IT MAGAZINE
In order to enable dedicated focus and customized strategic approach for different businesses, HCL Infosystems has introduced a new Scheme of arrangement with effect from 1st November, 2013. This will help the company to make distribution and services as key growth engines. Under the restructured organization, the Company’s businesses of Solutions, Services and Learning have been transferred to the wholly-owned subsidiaries HCL Infotech Ltd, HCL Services Ltd and HCL Learning Ltd, respectively, while the Products Distribution business would be with the parent entity HCL Infosystems.
Harsh Chitale, CEO & Managing Director, HCL Infosystems, said, This restructuring process was initiated with a clear objective of enabling each business to meet its individual requirements and build an organization customized to that business. Now there would be independence as well as accountability for each of the businesses. There will be greater visibility on the financial and operational performance of each business. Restructuring would also address more effectively the funding and capability acquisition needs of these businesses.
This restructuring would now enable us to have undivided focus and attention on our key growth engines Distribution and Services. This restructuring would also enable our Services business, carved out in HCL Services Ltd, the flexibility to invest in capability building and rapid expansion across markets. Our Services business has built a healthy order book on the back of large Managed Services and Break-fix services outsourcing deals. At the same time, our Services business would explore growth in emerging technologies. The restructuring also bodes well for one of the new businesses, Learning, which is now ready to stand on its own feet as a separate subsidiary. The restructuring will allow our Learning business to pursue strategy best suited to meet its large expansion goals, added Chitale.
Amongst all the growth-oriented changes, certain aspects of HCLI’s core DNA will remain same including the way HCLI deals with its customers, the brand assurance, quality, and capabilities. For customers, alliance partners and vendors there will be no changes in HCL........See More
Harsh Chitale, CEO & Managing Director, HCL Infosystems, said, This restructuring process was initiated with a clear objective of enabling each business to meet its individual requirements and build an organization customized to that business. Now there would be independence as well as accountability for each of the businesses. There will be greater visibility on the financial and operational performance of each business. Restructuring would also address more effectively the funding and capability acquisition needs of these businesses.
This restructuring would now enable us to have undivided focus and attention on our key growth engines Distribution and Services. This restructuring would also enable our Services business, carved out in HCL Services Ltd, the flexibility to invest in capability building and rapid expansion across markets. Our Services business has built a healthy order book on the back of large Managed Services and Break-fix services outsourcing deals. At the same time, our Services business would explore growth in emerging technologies. The restructuring also bodes well for one of the new businesses, Learning, which is now ready to stand on its own feet as a separate subsidiary. The restructuring will allow our Learning business to pursue strategy best suited to meet its large expansion goals, added Chitale.
Amongst all the growth-oriented changes, certain aspects of HCLI’s core DNA will remain same including the way HCLI deals with its customers, the brand assurance, quality, and capabilities. For customers, alliance partners and vendors there will be no changes in HCL........See More
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