Hexaware Names Vivek Jetley CEO-Designate, With Leadership Transition Planned for October 28

Hexaware Names Vivek Jetley CEO-Designate, With Leadership Transition Planned for October 28

Hexaware Technologies has appointed Vivek Jetley as CEO-designate, with the senior EXL executive scheduled to take over as chief executive on October 28, 2026, as the IT services company prepares for its next phase of AI-led growth.

Current chief executive Srikrishna Ramakarthikeyan, widely known as Keech, will step down as CEO and as a member of Hexaware's board on the same date after leading the company for 12 years.

Ramakarthikeyan will remain associated with Hexaware as a senior advisor, helping the company manage the leadership transition.

Jetley joins Hexaware after nearly two decades at EXL and brings more than 25 years of experience across artificial intelligence, data and analytics, enterprise transformation and strategy.

At EXL, he currently serves as president and leads the company's insurance, healthcare and life sciences businesses. He previously headed EXL's analytics operations and has held senior responsibilities covering strategy, partnerships, innovation and acquisitions.

The appointment comes at a strategically important moment for Hexaware as generative AI reshapes the global IT services industry and clients reconsider how they buy technology, automation and transformation services.

Vivek Jetley to Become Hexaware CEO on October 28

Jetley will formally assume the position of:

Chief Executive Officer

on:

October 28, 2026.

Until then, he will hold the designation of CEO-designate.

The defined transition date gives Hexaware a structured handover period between the outgoing and incoming leadership teams.

Jetley's appointment is expected to run for a four-year term.

His immediate priorities are likely to include accelerating growth, expanding Hexaware's AI-led services capabilities and strengthening relationships with major global enterprise customers.

Srikrishna Ramakarthikeyan to Step Down After 12 Years

The leadership change marks the end of a long tenure for Srikrishna Ramakarthikeyan.

He has led Hexaware for approximately:

12 years.

During that period, the company expanded its global delivery capabilities, strengthened client relationships and increased its focus on digital transformation and automation.

He also oversaw a period involving changes in Hexaware's ownership structure and the company's return to the public markets.

Ramakarthikeyan has said he is stepping down to pursue personal interests.

Ramakarthikeyan Will Remain Senior Advisor

Although he will relinquish the CEO role and board membership, Ramakarthikeyan will not immediately sever his relationship with Hexaware.

He will remain with the company as:

Senior Advisor.

The arrangement is intended to support continuity.

Leadership transitions in IT services can be particularly sensitive because relationships with large enterprise customers may span many years and involve multiple ongoing transformation programmes.

Keeping the outgoing chief executive available during the transition can help preserve:

client continuity,

institutional knowledge,

employee confidence,

and strategic context.

Vivek Jetley Brings More Than 25 Years of Experience

Jetley brings more than two decades of experience spanning:

AI,

data,

analytics,

consulting,

enterprise transformation,

and business strategy.

His career has coincided with several major technology transitions.

These have included:

enterprise analytics,

cloud computing,

data modernisation,

automation,

and generative AI.

That experience is particularly relevant as the IT services industry undergoes another period of significant change.

Clients increasingly expect service providers to demonstrate how AI can improve productivity and business outcomes rather than simply supply additional technology labour.

Jetley Joins From EXL

Jetley currently serves as president at EXL.

His responsibilities include leadership of the company's:

insurance,

healthcare,

and life sciences

businesses.

These are important global industries with significant demand for:

data analytics,

AI,

automation,

risk management,

and digital transformation.

Experience managing large industry-focused operations could help Jetley strengthen Hexaware's vertical strategy.

Large IT services companies increasingly compete through deep industry expertise rather than generic technology delivery alone.

Jetley Previously Led EXL Analytics

Before his current role, Jetley served as president and head of:

EXL Analytics.

In that position, he helped build and lead capabilities covering:

advanced analytics,

artificial intelligence,

enterprise data management,

and related transformation services.

This background aligns directly with Hexaware's ambition to increase the role of AI in its service portfolio.

Enterprise customers are increasingly looking for providers capable of combining:

industry knowledge,

data infrastructure,

AI models,

and implementation capability.

Jetley's analytics background could therefore become central to Hexaware's future positioning.

Nearly Two Decades at EXL

Jetley joined EXL in:

2006

when the company acquired Inductis, a specialised analytics consulting business where he was a partner.

He subsequently spent roughly two decades in leadership positions across EXL.

His responsibilities during that period included areas such as:

corporate strategy,

strategic partnerships,

innovation,

business growth,

and acquisitions.

That combination of operational and strategic experience could prove useful as Hexaware considers both organic growth and potential inorganic expansion.

AI-Led Growth Is Central to Appointment

Hexaware has explicitly linked the CEO appointment to its next phase of:

AI-led growth.

Artificial intelligence is changing the economics of IT services.

Tasks historically performed manually by large teams can increasingly be assisted or automated through:

generative AI,

coding copilots,

AI agents,

automated testing,

and intelligent operations platforms.

This creates both an opportunity and a risk for conventional IT services companies.

Providers that successfully use AI can potentially deliver projects faster and create new high-value services.

Those that fail to adapt could face pricing and productivity pressure.

Enterprise Technology Services Are Being Reshaped

Generative AI is influencing how enterprises think about technology investment.

Companies are experimenting with AI across:

software development,

customer service,

finance,

operations,

marketing,

cybersecurity,

and knowledge management.

However, moving from experimentation to large-scale deployment requires significant work.

Enterprises must address:

data readiness,

security,

governance,

integration,

model selection,

and return on investment.

This creates an opportunity for IT services firms capable of helping clients operationalise AI responsibly.

Hexaware Wants to Scale AI-Led Services Globally

Jetley's mandate includes expanding Hexaware's AI-led services model across international markets.

Global scaling will require the company to strengthen capabilities in several interconnected areas.

These include:

AI engineering,

data modernisation,

cloud,

automation,

cybersecurity,

and domain-specific transformation.

Enterprise clients increasingly expect service providers to combine all of these capabilities rather than offer them as isolated technology products.

Hexaware's ability to integrate those services could influence its growth trajectory.

Data Capabilities Become More Important in AI Era

AI systems depend heavily on data quality.

Enterprises frequently have information spread across:

legacy applications,

cloud platforms,

data warehouses,

databases,

and unstructured repositories.

Before many AI applications can deliver value, companies need to modernise and organise that data.

Jetley's background in analytics and enterprise data management could therefore be particularly relevant.

IT services firms that control more of the data-modernisation layer may be better positioned to win subsequent AI implementation work.

Industry Expertise Could Become Competitive Advantage

Jetley's experience across insurance, healthcare and life sciences may also strengthen Hexaware's approach to industry specialisation.

AI implementation often differs significantly across industries.

A bank has different:

regulatory requirements,

data structures,

and business processes

from a healthcare company or retailer.

Clients therefore value providers that understand both technology and industry-specific workflows.

Hexaware's ability to combine domain expertise with AI capabilities could become an important differentiator.

Carlyle Backs Leadership Transition

Private-equity firm Carlyle, a major shareholder in Hexaware, has publicly supported the appointment.

Carlyle has indicated that Jetley's experience scaling businesses and building data- and AI-led growth platforms fits Hexaware's next phase.

The backing of a major shareholder provides important governance continuity during the transition.

Private-equity sponsors typically pay close attention to:

revenue growth,

operating margins,

cash generation,

capital allocation,

and strategic positioning.

Jetley's performance will therefore be evaluated across both operational and shareholder-return metrics.

Leadership Change Comes During Growth Recovery

The timing of the transition has attracted investor attention because Hexaware is attempting to improve its growth trajectory.

The company has faced challenges involving:

client-specific issues,

delayed deal closures,

and slower ramp-ups.

These factors have affected growth relative to some peers.

A leadership change during a recovery phase can create uncertainty because a new CEO may revisit:

strategy,

management structure,

investment priorities,

and account leadership.

Investors will therefore closely watch Jetley's first strategic decisions after taking charge.

Hexaware Shares Fall Following Announcement

Hexaware shares came under pressure on September 3 following the leadership announcement.

The stock fell by around:

4%

during the session.

At one point, shares were down roughly:

3.8%

near ₹523.

The decline reflected investor concern about leadership uncertainty during a period when the company is already attempting to improve growth.

Markets often react cautiously when long-serving chief executives leave services companies because client and senior-management relationships can be closely tied to leadership continuity.

Analysts Flag Near-Term Transition Risk

Some analysts have cautioned that the CEO transition could become a near-term overhang for Hexaware shares.

Key concerns include whether the change could lead to:

additional management churn,

changes in strategy,

or delays in the company's growth recovery.

IT services organisations depend heavily on experienced business-unit leaders and client-account executives.

A CEO change can sometimes trigger wider management movement.

Investors will therefore monitor whether Hexaware retains key senior talent through the transition period.

Strategic Clarity Will Be Closely Watched

Once Jetley takes charge, investors are likely to seek clarity on several issues.

These include:

Hexaware's growth priorities,

AI investment strategy,

industry focus,

large-deal approach,

partnerships,

acquisitions,

and margin targets.

Jetley's background could potentially lead to a stronger emphasis on:

insurance,

healthcare,

life sciences,

analytics,

and data-led services.

However, the company's final strategy will become clearer only after the new CEO formally assumes office and communicates his priorities.

Revenue Growth Remains Central Challenge

Like other IT services companies, Hexaware is operating in an uncertain enterprise-spending environment.

Clients are balancing investment in new AI initiatives against pressure to:

reduce costs,

consolidate vendors,

and improve technology productivity.

Large transformation programmes can also take longer to approve when macroeconomic uncertainty is elevated.

The challenge for Hexaware will be converting AI interest into commercial contracts and revenue.

That requires proving measurable business value rather than simply demonstrating technology capabilities.

AI Can Disrupt Traditional Billing Models

The shift toward AI creates a deeper challenge for the IT services industry.

Traditional outsourcing models often charge clients based partly on:

people,

hours,

or project capacity.

AI can reduce the amount of human effort required to complete certain tasks.

That can pressure revenue if pricing remains tied solely to labour.

Service providers are therefore moving toward models based increasingly on:

outcomes,

platforms,

intellectual property,

automation,

and productivity gains.

Hexaware's new leadership will need to manage this business-model transition.

AI Could Also Improve Hexaware Margins

The same technologies creating disruption can create efficiencies.

AI can help automate:

coding,

testing,

documentation,

support,

data analysis,

and internal processes.

If productivity improves faster than price reductions demanded by customers, IT services companies could potentially protect or expand margins.

Success will depend on how productivity benefits are shared between service providers and clients.

The ability to redesign delivery models will therefore become an important competitive factor.

Large Enterprise Relationships Remain Critical

Hexaware serves major enterprises across global markets.

Such relationships can involve:

multiyear contracts,

large delivery teams,

and business-critical systems.

Preserving customer confidence during the leadership transition is therefore essential.

Ramakarthikeyan's continued presence as senior advisor should help maintain continuity.

Jetley will also need to establish relationships with major clients quickly after taking charge.

Leadership Transition Could Create New Business Opportunities

A new CEO can also provide an opportunity to reassess business priorities.

Jetley's background may help Hexaware identify additional growth areas across:

data,

AI,

insurance,

healthcare,

and analytics.

Existing client relationships could potentially be expanded by introducing new AI-based services.

Cross-selling higher-value services into established accounts can be more efficient than winning entirely new customers.

This could become one route to accelerating growth.

Acquisitions Could Remain Part of Strategy

Jetley has experience involving acquisitions and strategic partnerships.

That background could become relevant if Hexaware looks to add specialised capabilities through inorganic expansion.

Potential acquisition areas in the IT services industry can include:

AI consulting,

data engineering,

cloud,

cybersecurity,

and industry-specific technology.

Acquisitions can accelerate capability development but also introduce integration risk.

Any future transactions will therefore need disciplined valuation and strategic fit.

Partnerships Will Matter in AI Ecosystem

AI services companies increasingly depend on partnerships with technology platforms.

Enterprise AI deployments can involve:

cloud providers,

model developers,

data platforms,

cybersecurity vendors,

and software companies.

IT services firms act as integrators across this ecosystem.

Strengthening relationships with major technology vendors can therefore improve access to:

clients,

training,

products,

and joint go-to-market opportunities.

Jetley's previous strategic-partnership experience could support this area.

Employee Skills Will Need to Evolve

AI transformation also requires substantial workforce reskilling.

Employees accustomed to traditional:

application development,

testing,

infrastructure management,

and support

will increasingly need capabilities involving:

AI tools,

prompt engineering,

data,

automation,

and agentic systems.

Hexaware will need to invest continuously in training.

The challenge is not merely hiring new AI specialists.

It is transforming the productivity and capabilities of a large existing workforce.

AI Adoption Can Change Talent Mix

As automation increases, IT services companies may require fewer people for repetitive work while increasing demand for:

architects,

AI engineers,

domain specialists,

data scientists,

and client consultants.

This could gradually change the employee pyramid.

Companies may place greater value on experienced specialists capable of solving complex client problems.

Managing this workforce transition without weakening delivery quality will be an important leadership challenge.

Global Delivery Model Remains Important

Despite AI disruption, the global delivery model remains central to Indian IT services.

India provides a large pool of:

engineering,

technology,

and analytics talent.

Companies such as Hexaware combine this talent base with client-facing operations across international markets.

AI could make the model more productive rather than eliminate it.

The strongest providers may be those capable of combining Indian technology talent with AI-driven automation and deep global industry expertise.

Insurance and Healthcare Could Gain Greater Focus

Jetley's current role at EXL gives him extensive exposure to:

insurance,

healthcare,

and life sciences.

These industries are significant users of technology and analytics.

AI opportunities include:

claims processing,

underwriting,

fraud detection,

clinical workflows,

customer support,

and operational automation.

If Hexaware increases investment in these verticals, Jetley's industry experience could help deepen client relationships.

Analytics Experience Supports Outcome-Based Services

Analytics services often focus directly on business outcomes.

Rather than simply maintaining technology systems, analytics projects may target:

revenue growth,

risk reduction,

customer retention,

or operational efficiency.

That orientation aligns with the broader shift in IT services toward outcome-based engagements.

Jetley's experience could therefore help Hexaware move further up the value chain.

Higher-value consulting and transformation work can potentially improve both differentiation and client stickiness.

Board Continuity Will Be Important

Jetley will assume leadership with the support of Hexaware's board and major shareholders.

Board oversight will be particularly important during the first several quarters.

A new CEO may seek to modify:

investment priorities,

organisational structures,

management responsibilities,

and capital allocation.

Clear governance can help ensure that strategic changes are implemented without destabilising ongoing operations.

The transition period until October 28 provides time for detailed planning.

Four-Year CEO Term Provides Defined Mandate

Jetley's proposed four-year term establishes a clear medium-term leadership horizon.

That period should be sufficient to execute a significant strategic programme.

IT services transformations generally require multiple years because companies must:

develop capabilities,

train employees,

win contracts,

and scale delivery.

Performance will likely be judged through a combination of:

revenue growth,

margins,

large-deal wins,

client retention,

and AI-related business development.

October 28 Becomes Key Milestone

The most important immediate date is:

October 28, 2026.

On that date:

Vivek Jetley will formally become CEO,

Srikrishna Ramakarthikeyan will step down as CEO,

and Ramakarthikeyan will move into his senior-advisor role.

The period between announcement and formal transition allows both executives to coordinate the handover.

For customers and employees, the structured timeline should reduce uncertainty around operational leadership.

Investor Attention Will Shift to First Strategic Update

After Jetley takes charge, the market will focus on his first substantive strategic commentary.

Investors will want to understand whether Hexaware plans meaningful changes in:

vertical priorities,

AI investments,

sales strategy,

management structure,

or acquisitions.

They will also watch whether existing financial guidance remains achievable.

The speed with which the new CEO communicates a credible growth plan could influence investor confidence.

Conclusion

Hexaware Technologies' appointment of Vivek Jetley as CEO-designate marks a major leadership transition as the company seeks to accelerate growth and reposition itself for an increasingly AI-driven IT services market.

Jetley will formally become CEO on October 28, 2026, bringing more than 25 years of experience across AI, analytics, data, enterprise transformation and strategy.

He joins from EXL, where he currently leads the insurance, healthcare and life sciences businesses and previously headed the company's analytics operations.

Outgoing CEO Srikrishna Ramakarthikeyan will step down after 12 years at the helm but remain with Hexaware as senior advisor to support continuity.

The transition comes at a challenging but potentially transformative moment for the global technology-services industry.

Generative AI is creating new consulting and transformation opportunities while simultaneously disrupting conventional outsourcing and labour-based delivery models.

For Hexaware, Jetley's mandate will therefore extend beyond maintaining existing momentum.

He will need to demonstrate that the company can use its domain expertise, global client relationships and expanding AI capabilities to generate stronger growth while navigating rapid changes in how enterprise technology services are delivered.

The market's initial cautious reaction highlights the execution risk surrounding any major leadership change.

The longer-term verdict, however, will depend on whether the transition translates into stronger client growth, successful AI-led services expansion and improved competitive positioning.