Hexaware Technologies CEO Resigns, EXL's Vivek Jetley Named Successor

Hexaware Technologies is heading into a leadership transition after its Chief Executive Officer and Wholetime Director, Srikrishna Ramakarthikeyan, tendered his resignation, with the company's board naming Vivek Jetley, a two-decade veteran of rival IT and analytics firm EXL, as his successor.

Ramakarthikeyan's resignation takes effect October 28, 2026, and covers his roles at both Hexaware Technologies Limited and its wholly owned US subsidiary, Hexaware Technologies Inc. In his resignation letter, he said he was stepping down "to pursue personal interests," describing his tenure as "one of the most fulfilling chapters" of his professional life and thanking the board, shareholders and what he called "the broader Hexaware family" for their trust. He will continue to be associated with the company as a senior advisor from the date of his departure, a move the company said is intended to support a smooth handover.

Jetley arrives from EXL after nearly 20 years

Based on the recommendation of its Nomination and Remuneration Committee, Hexaware's board approved Vivek Jetley's appointment as the company's next CEO, effective the same date, for an initial term of four years. Jetley currently serves as President at EXL, where he leads the insurance, healthcare and life sciences businesses, roles he has built over close to two decades at the company. His move to Hexaware marks a significant leadership swap between two established players in India's IT and business-process outsourcing landscape.

Transition comes amid a tougher year for Hexaware

The leadership change lands at a difficult stretch for Hexaware's stock, which is down more than 28 percent so far in 2026, a steeper decline than the roughly 19 percent drop in the broader BSE IT index over the same period. The company recently trimmed its 2026 revenue guidance, though brokerage commentary following the cut suggested the softness reflected deal timing rather than a permanent loss of business, with analysts pointing to delayed ramp-ups on modernization programmes and continued momentum in banking, healthcare and manufacturing accounts as reasons for cautious optimism heading into 2027.

Despite the guidance cut and leadership uncertainty, several brokerages, including CLSA, Kotak Institutional Equities and Axis Capital, have maintained "Buy" or "Accumulate" ratings on the stock following the company's recent AI Day presentation, where management laid out its roadmap for artificial intelligence-linked services and platforms.

What it means for investors

Leadership transitions at large listed IT services firms typically draw close scrutiny from investors focused on continuity of client relationships and strategic direction, particularly when guidance has already been under pressure. With close to two months before Jetley formally takes charge, Hexaware's existing management is expected to continue executing on its current strategy, while the incoming CEO's own priorities and any shifts in strategic focus are likely to become clearer only once he assumes the role in late October. Shareholders and analysts will be watching closely for early signals on how Jetley intends to position the company relative to larger peers as competition for AI-linked deals intensifies across the Indian IT sector.

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