Hexaware Technologies has announced a major leadership change, with longtime CEO Srikrishna Ramakarthikeyan stepping down to pursue personal interests after a decade at the helm. He will be succeeded by Vivek Jetley, a senior executive with a two-decade tenure at Nasdaq-listed EXL, where he previously led the insurance, healthcare, and life sciences business. Jetley is set to officially take over as CEO on October 28.
Key Context Behind the Leadership Change
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Timing of the Exit: Srikrishna’s departure follows a significant milestone for the firm—overseeing Hexaware’s public listing on the bourses last year—but arrives during a challenging operational climate for Indian IT services.
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Growth Outlook Trimmed: Hexaware, currently India’s 10th-largest IT firm by revenue, recently lowered its calendar-year 2026 growth forecast to 6%–7% (down from an earlier projection of at least 7.6%) following its June quarter results.
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Macro and AI Disruptions: The leadership transition coincides with broader industry pressures, as IT firms grapple with client caution over tech spending, macroeconomic uncertainties, and the ongoing shift toward AI-driven solution implementation.
