Vineet Nayyar, one of the doyens of the Indian tech industry, best known for serving as the Vice Chairman of Tech Mahindra, passed away on Thursday, May 16, at the age of 85. He played a crucial role in TechMahindra’s growth, transformation and revival of Satyam Computer Services Ltd.
Born in post-independent India, on November 21, 1947, in India, and equipped with a master’s degree in development economics from Williams College, Massachusetts, Nayyar donned many hats before becoming a tech evangelist.
A former Indian Administrative Service (IAS) officer, Nayyar worked with the World Bank for eight years as their Chief and Head of the Energy Department, East Asia and Pacific. He then went on to serve as the first chairman and managing director of GAIL, a public sector undertaking, for five years from 1986-1991.
Sharing a note on his death, Anand Mahindra said it was during this time that Nayyar made a “hugely successful transition to the private sector becoming the Managing Director of HCL Corporation Ltd., and the Vice Chairman of HCL Technologies Ltd”.
“And it was from there that he and two of his close colleagues journeyed to Mahindra British Telecom. We called them the Three Musketeers! They came in with a startup mentality, determined to take MBT (which they renamed Tech Mahindra) into the top ranks of the Indian IT industry—and that’s exactly what they did,” Mahindra wrote.
Nayyar was also the founder and MD of Perot Systems India. But his longest stint was with TechM which he joined in 2005 as the Vice Chairman, and in 2009, under his watch, TechM had taken over scam-tainted Satyam Computer.
Under his leadership, Satyam was stabilised, client confidence was restored and Satyam computers eventually became Mahindra Satyam. TechM needed Satyam Computer as much as Satyam needed a new home.
Tech Mahindra at the time was fully dependent on telecom for its revenue, Satyam brought with it customers in banking, health care and retail. Today Tech Mahindra is a ₹50,000 crore + topline company.
Remembering the time, Mahindra wrote on Satyam, too, mentioning that the deal was “spearheaded by Vineet”.
Adding about Nayyar’s death, Mahindra said: “Vineet was a larger than life figure in the Indian Business landscape… But I will personally be most grateful to him for his vision in exhorting us to establish Mahindra University, on the campus of the erstwhile Satyam Computer. He provoked us to create what will perhaps be one of the most important legacies of our group. Thank you, Vineet, for your wisdom, your leadership and for committing the crowning part of your career to the Mahindra Group. Above all, thank you for your friendship. You will always live on in our hearts.”
CP Gurnani, Nayyar’s comrade in arm at TechM, tweeted: “Heartbreaking news… India has lost one its finest leaders today… Personally, it’s like losing the light that has led me for decades… He was friend, philosopher, brother, guide & statesman par excellence… My heart and thoughts with Reva and family. #OmShanti.”
A few months ago, sharing a note on Guru Purab day, Gurnani shared five powerful leadership lessons he picked from Vineet Nayyar.
In a LinkedIn post, Gurnani noted: “Bold is beautiful: Vineet taught me how one could make difficult decisions with clarity and grace. The acquisition of Satyam is the biggest example. And then, there are the multiple joint ventures. I learnt that fearless, right decision-making not only helped set a good precedence but gave an extra shot of confidence to every member on the team. On dot, between the lines: Beyond fearlessness, Vineet’s sharp numerical acumen and deep understanding of legal intricacies significantly impacted my approach to leadership. These skills have not only streamlined our decision-making processes but also empowered us to handle complex situations, such as the legal uncertainties surrounding the Satyam acquisition. The actual cost of handling these issues turned out to be a mere fraction of our initial concerns. Humility and humour: I have always found Vineet to be transparent, direct, and fair: To me, it is a gold standard for leadership. But along with it, I learnt another secret mantra from him – the importance of humour and humility in success. The ability to laugh at oneself was an important life skill I discovered. This too shall pass: His ability to manage stress was phenomenal. During the Satyam days, it was his resilience and calmness that kept us going. In the bleakest of moments he would debate, discuss and then finally assure us with the four words : This too shall pass. Less is more: Vineet’s ability to manage resources efficiently while maintaining optimal performance is truly inspiring. In a world often consumed by excess, Vineet’s frugal approach has taught us the importance of judicious resource utilisation.”
Mohot Joshi, CEO and MD at TechM, also took to X to share his condolences: “Quite saddened to hear about the passing of the legendary Vineet Nayyar. As an institution builder, Vineet’s contributions were foundational and his ambitious vision will continue to guide us. I’ve been fortunate to have had the opportunity to meet with him both in person and virtually, and each time, I was struck by his energy, passion, and dedication to the community. His deep love for literature and fine arts truly made him a Renaissance man, and his impact will always be remembered.”
Nayyar’s contribution goes beyond technology, he was also the go-to person when trouble was brewing in India Inc.
When IL&FS trouble erupted, Nayyar was appointed the Executive Vice President in 2018 of the group. This was a critical phase in the company, IL&FS was battling a severe liquidity crisis and corporate governance concerns.
Nayyar’s efforts brought in stability, governance oversight and viability. When he stepped down from the board of IL&FS in October 2020 for medical reasons, Uday Kotak, non-executive Chairman, IL&FS said: “Vineet brought with him unique insights and conviction with respect to our challenges over the last two years. I wish him a speedy recovery.”
Parting with words once said by Nayyar to the graduating students: “You are fortunate to live in an India that’s a brand today. Tap into your education, capabilities and the power of brand India and you will succeed.”
