Hexaware names Vivek Jetley as CEO after Srikrishna Ramakarthikeyan steps down

Hexaware Technologies has announced a leadership transition, with Chief Executive Officer and Whole-time Director Srikrishna Ramakarthikeyan resigning from the company, effective 28 October 2026. The board has simultaneously approved the appointment of Vivek Jetley as the company’s next CEO, marking a significant change at the top of the IT services firm.

According to disclosures made by the company, Ramakarthikeyan has also resigned from his positions at Hexaware Technologies Inc. (HTI), the company’s wholly owned subsidiary, with effect from the same date.

While stepping down from executive responsibilities, Ramakarthikeyan will continue to be associated with Hexaware as a Senior Advisor from 28 October to support the leadership transition.

Board moves to ensure continuity

The appointment of Vivek Jetley follows a recommendation from the company's Nomination and Remuneration Committee. The board approved his appointment as Chief Executive Officer for a four-year term beginning on 28 October 2026.

Jetley joins Hexaware from EXL, where he currently serves as President, leading the company's insurance, healthcare and life sciences businesses. His experience spans large-scale digital transformation, business operations and industry-focused technology services.

The leadership change comes at a time when IT services firms are navigating shifting client spending patterns, AI-led transformation programmes and evolving demand across key industry sectors.

Outgoing CEO to remain as advisor

In his resignation letter, Ramakarthikeyan said he was stepping down to pursue personal interests after leading the company through a period of transformation.

He stated that serving as CEO had been one of the most fulfilling chapters of his professional career and expressed gratitude to the board, shareholders and employees for their support.

He also said he would remain available to assist with the transition process and expressed confidence in the company's future growth prospects.

Key leadership changes

• Srikrishna Ramakarthikeyan will step down as CEO and Whole-time Director of Hexaware on 28 October 2026.
• He has also resigned from leadership positions at Hexaware Technologies Inc.
• Ramakarthikeyan will continue as Senior Advisor to support a smooth handover.
• Vivek Jetley has been appointed CEO for a four-year term beginning 28 October 2026.
• Jetley joins from EXL, where he serves as President overseeing insurance, healthcare and life sciences operations.

Leadership transition comes amid business challenges

The management change arrives during a period of market pressure for the company. Hexaware shares have declined 28.13% year-to-date, compared with a 19% decline in the BSE Information Technology Index.

The company recently reduced its revenue guidance for 2026. According to a recent note from Motilal Oswal Financial Services (MOFSL), the moderation in growth appears to be largely deferred rather than permanently lost. The brokerage said delayed deal ramp-ups, continued demand for modernisation programmes and growth across banking, healthcare and manufacturing could support stronger momentum towards the end of 2026 and into 2027.

Despite the revised outlook, several brokerages, including CLSA, Kotak Institutional Equities and Axis Capital, have maintained positive ratings on the stock following the company's recent AI-focused strategy presentations, according to market reports.

Focus shifts to the next phase

The transition places responsibility on Jetley to guide Hexaware through its next stage of growth while managing an increasingly competitive technology services landscape. His appointment also signals the company's intention to strengthen its position in industry-focused digital transformation and AI-driven services.

With Ramakarthikeyan remaining involved during the handover period and Jetley set to assume leadership in late October, investors and clients will be watching closely for signs of execution against the company's growth plans and revised business outlook.