Xpheno gears up for IPO with new CEO-designate and bold GCC growth strategy

Xpheno, a leading specialist staffing firm, has announced the appointment of Francis Padamadan as its CEO-designate. This strategic leadership transition comes as the company intensifies its expansion plans and prepares for its initial public offering (IPO), positioning itself as the premier staffing partner for the anticipated wave of Greenfield Global Capability Centres (GCCs) in India.

As Xpheno embarks on a detailed two-year growth plan, it is sharpening its focus on specialist staffing and aiming to partner with the estimated 200 new Greenfield GCCs expected to be established in India over the next two to three years. To support this trajectory, Xpheno has restructured its leadership, transferring key responsibilities previously handled by co-founders Kamal Karanth and Anil Ethanur to Padamadan—enhancing agility and strengthening the company’s IPO readiness.

Padamadan brings with him 22 years of deep staffing industry expertise, having held leadership roles at prominent global recruitment firms such as NASDAQ-listed Kelly Services and UK-based TritonExec. His experience spans executive search, recruitment process outsourcing (RPO), and global staffing operations—positioning him as a strategic asset as Xpheno scales up.

“We are at a pivotal stage in our growth, and anchoring our leadership team with Francis is a crucial step to be a dominant player in the specialist staffing space,” said Kamal Karanth, co-founder of Xpheno. “Francis Padamadan brings a rare combination of expertise in staffing, executive search, and scaling Greenfield GCCs in the banking and automotive sectors. His deep understanding of GCCs, RPO and executive search makes him a crucial hire for us to scale and deliver at speed.”

Padamadan expressed his enthusiasm, stating: “I am elated to join Xpheno at an inflection point of acceleration. The opportunity to drive growth in the specialist staffing segment, build strategic global GCC partnerships, and expand into new geographies aligns perfectly with my experience and aspirations. Xpheno has a strong reputation in the industry, and I look forward to working with the founders and leadership team to achieve our vision to lead the GCC recruitment space.”

As Xpheno marks its ninth year, it has set bold targets—surpassing INR 500 crore in turnover, forming partnerships with over 100 GCCs for tech staff augmentation, completing acquisitions in the RPO and executive search space, and expanding into Europe to support global GCCs entering India.

“Xpheno’s data-driven and experiential approach to recruitment has enabled us to scale over 40 Greenfield GCCs with specialised skills at speed,” said Anil Ethanur, co-founder of Xpheno. “With our strategic roadmap in place, we are ready to leverage our specialist recruiting capabilities and stride towards the IPO.”

India’s $6 billion specialist staffing market is undergoing rapid change, with over 40 new GCCs entering the country annually and hiring around 20,000 professionals. This presents a significant opportunity for Xpheno. Furthermore, as more than 80% of hiring for GCCs and product firms involves niche skills, domain-rich RPO services are becoming essential—aligning well with Xpheno’s strengths.

With over 4,500 tech leaders in GM, VP and director roles having switched jobs in the past year alone, demand for executive search services is soaring. Xpheno’s expertise in placing senior talent strengthens its position as a key player in shaping the future of GCC staffing.

Padamadan’s leadership is expected to be instrumental in deepening strategic partnerships, expanding RPO and executive search capabilities, and driving international growth. With a clear vision and robust roadmap, Xpheno is set to redefine specialist staffing in India and beyond.