{"id":1875,"date":"2026-09-03T08:32:19","date_gmt":"2026-09-03T08:32:19","guid":{"rendered":"https:\/\/newsraise.com\/in\/2026\/09\/03\/hexaware-appoints-vivek-jetley-ceo\/"},"modified":"2026-09-03T08:32:19","modified_gmt":"2026-09-03T08:32:19","slug":"hexaware-appoints-vivek-jetley-ceo","status":"publish","type":"post","link":"https:\/\/newsraise.com\/in\/2026\/09\/03\/hexaware-appoints-vivek-jetley-ceo\/","title":{"rendered":"Hexaware appoints EXL veteran Vivek Jetley as CEO, ending Srikrishna\u2019s 12\u2011year run"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"9fece8afa224fd09e54b043d0febfb58\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- NR ATF -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-8898941184964366\"\r\n     data-ad-slot=\"4839033563\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>Hexaware Technologies Ltd announced on Wednesday that its chief executive officer, Ramakarthikeyan Srikrishna, will step down after a twelve\u2011year tenure. The company\u2019s 11\u2011member board approved the appointment of Vivek Jetley, a two\u2011decade veteran of New York\u2011based business\u2011process outsourcing firm EXL, to a four\u2011year term as Hexaware\u2019s new CEO. The board\u2019s decision, made in an 18\u2011minute meeting, marks the first time the firm has installed an external successor.<\/p>\n<h2>Background of the incoming chief executive<\/h2>\n<p>Vivek Jetley joins Hexaware after leading a $1.4\u202fbillion segment at EXL that covered insurance, healthcare and life\u2011sciences businesses. He entered EXL in 2006 and spent twenty years rising through the ranks before being tapped for the top role at Hexaware. In the board\u2019s statement, Sandra Horbach, a Hexaware board member and chair of Americas Corporate Private Equity at Carlyle, highlighted Jetley\u2019s \u201cproven ability to scale businesses, deepen enterprise relationships and build Data and AI\u2011led growth platforms.\u201d Carlyle, a Pennsylvania\u2011based private\u2011equity firm, holds a 74.3\u202f% stake in Hexaware and expressed enthusiasm for the new leadership.<\/p>\n<h2>Details of Srikrishna\u2019s exit and legacy<\/h2>\n<p>Ramakarthikeyan Srikrishna, aged 56, is among India\u2019s longest\u2011serving CEOs in the technology services sector. He guided Hexaware back to the public markets in February of the previous year, positioning the firm within the \u201cbillion\u2011dollar club\u201d of Indian IT services firms. In his resignation letter, Srikrishna described his tenure as \u201cone of the most fulfilling chapters of my professional life,\u201d and thanked the board, shareholders and the broader Hexaware family for their trust. He will remain on\u2011board as a senior advisor and is slated to hand over responsibilities to Jetley on 28\u202fOctober\u202f2026, well before the end of his current five\u2011year term scheduled for 1\u202fMarch\u202f2028.<\/p>\n<p>Under Srikrishna\u2019s stewardship, Hexaware reported revenue of $1.54\u202fbillion for the fiscal year ending December, a 7.6\u202f% increase year\u2011on\u2011year. The firm posted the third\u2011fastest growth among thirteen tech\u2011services companies with revenues exceeding $1\u202fbillion, trailing only Coforge Ltd (29.2\u202f% growth) and Persistent Systems Ltd (17.4\u202f% growth). Operating margin rose 80 basis points to 14.4\u202f%, a modest improvement that placed Hexaware just above Mphasis, whose margin held at 15.3\u202f%.<\/p>\n<h2>Performance challenges and strategic moves<\/h2>\n<p>Despite the revenue uplift, Hexaware\u2019s compounded quarterly growth between March\u202f2025 and July\u202f2026 slowed to 1.76\u202f%, lagging peers Coforge (7.62\u202f%), Mphasis (1.82\u202f%) and Persistent Systems (3.81\u202f%). Analysts have linked the tepid growth to reliance on two of the company\u2019s five largest accounts\u2014Freddie\u202fMac and Fannie\u202fMae\u2014which together contributed roughly $150\u202fmillion in revenue as of June last year.<\/p>\n<p>In response to competitive pressure, Srikrishna\u2019s final initiative introduced a \u201cZero License\u201d service offering. The model enables clients to deploy software created by Hexaware\u2019s AI teams on their own servers, sidestepping traditional licensing fees paid to cloud giants such as Microsoft and Google. Motilal\u202fOswal Financial Services analysts Abhishek\u202fPathak, Keval\u202fBhagat and Suket\u202fKothari praised the differentiated proposition, noting that the market narrative around \u201call SaaS is worthless\u201d has softened and that per\u2011seat SaaS replacement in niche pockets remains a credible long\u2011term opportunity.<\/p>\n<p>Market reaction to the leadership change was muted. Hexaware\u2019s shares closed 1.3\u202f% lower at \u20b9545.00 on the Bombay Stock Exchange on Wednesday. Over the calendar year, the stock has fallen 28.72\u202f%, the steepest decline among its billion\u2011dollar peers, while Coforge\u2019s shares rose 18\u202f% and Mphasis and Persistent Systems slipped roughly 11\u202f% and 9\u202f% respectively.<\/p>\n<h2>Industry context and peer comparisons<\/h2>\n<p>Hexaware\u2019s external appointment mirrors a broader reshuffling in India\u2019s high\u2011value IT services landscape. Sonata Software Ltd named Rajsekhar\u202fDatta\u202fRoy, a former chief delivery officer, as CEO on 9\u202fMay for a three\u2011year term, succeeding Samir\u202fDhir. Two months later, Infosys Ltd announced Ashiss\u202fKumar\u202fDash as its CEO\u2011designate on 23\u202fJuly, with a planned transition on 1\u202fApril\u202f2027 when Salil\u202fParekh\u2019s second term concludes. Unlike Roy and Dash, who have spent more than two decades within their respective firms, Jetley arrives from outside, underscoring Hexaware\u2019s intent to inject fresh perspective as it pursues AI\u2011driven growth.<\/p>\n<p>Hexaware\u2019s fiscal calendar runs from January to December, differing from the April\u2011to\u2011March schedule of most Indian IT companies. The company\u2019s strategic focus on AI, data platforms and the Zero License model reflects an effort to diversify revenue streams beyond traditional outsourcing contracts, a move that may influence its competitive positioning in the coming years.<\/p>\n<p>With Carlyle\u2019s substantial equity stake and the board\u2019s confidence in Jetley\u2019s track record, Hexaware appears poised to navigate the challenges that have tempered its recent growth. The upcoming transition on 28\u202fOctober\u202f2026 will be closely watched by investors and industry observers seeking signs of accelerated performance under new leadership.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Hexaware Technologies named EXL\u2019s Vivek Jetley as chief executive, succeeding Ramakarthikeyan Srikrishna after a 12\u2011year tenure, as the firm seeks to accelerate data\u2011AI growth.<\/p>\n","protected":false},"author":3,"featured_media":1876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[299],"tags":[1880,1801,1881,1878,1879],"class_list":["post-1875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-carlyle","tag-ceo-transition","tag-exl","tag-hexaware","tag-it-services","entry"],"_links":{"self":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/1875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/comments?post=1875"}],"version-history":[{"count":0,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/1875\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media\/1876"}],"wp:attachment":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media?parent=1875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/categories?post=1875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/tags?post=1875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}