Tiger" Tyagarajan, the CEO of Genpact, will retire in February, and BK Kalra will succeed him

 "Tiger" Tyagarajan, the CEO of Genpact, will retire in February, and BK Kalra will succeed him

Tiger's retirement coincides with a wave of high-level leadership turnover in the IT services and BPM industries in recent quarters. But he will still be serving on the board of directors.

After Tyagarajan was named CEO in 2011, he guided Genpact through a period of explosive expansion.

On February 9, 2024, NV "Tiger" Tyagarajan, president and CEO of Genpact, will retire. Balkrishan "BK" Kalra has been chosen by the board to succeed him in the top position. This occurs at a time when there have been several top-level leadership changes in the IT services and BPM industries in recent quarters.

Since joining Genpact in 1999, Kalra has held the position of global business leader for the company's financial services and consumer & healthcare sectors. On February 9, he takes over and becomes a board member of the corporation. Additionally, Tyagarajan will remain a member of the board of directors.

Customer Tests

With over 30 years of expertise, Kalra has assisted businesses in growing from startup to big, internationally competitive corporations. He has held a number of progressively senior leadership positions at Genpact. "He oversees Genpact's worldwide transformation initiatives in the banking, capital markets, consumer goods, retail, life sciences, and healthcare sectors, assisting businesses in optimizing technology and artificial intelligence-powered solutions," the firm said.

"We are pleased to announce BK as Genpact's next CEO, a leader with an extensive history of delivering business results including fostering deep client relationships," said James Madden, Chairman of the Board of Directors of Genpact.

The Board conducted a thorough process, evaluating a variety of internal and external candidates, in preparation for Tiger's retirement. Ultimately, BK emerged as the obvious heir. With an emphasis on Genpact's initiatives pertaining to advanced analytics and AI-enabled solutions, he is aware of the value of making investments in cutting-edge trends and technologies. As we embark on this new phase, BK's strategic vision and in-depth knowledge of our customers and industry is just what Genpact needs, according to Madden.

"I am honoured to take on the CEO role and I am grateful for the confidence and trust that Tiger and the Board have shown in me," said Kalra.

Tyagarajan's expedition

After Tyagarajan was named CEO in 2011, he guided Genpact through a period of explosive expansion. Using data and technology to better serve its customers, he helped turn the firm during his tenure into an industry leader with over $4.3 billion in yearly sales in 2022. He has spent over 19 years working at Genpact.

I would like to convey our heartfelt gratitude to Tiger for leading Genpact for the last 12 years on behalf of the Board and the whole company. With an emphasis on a distinct set of prioritised verticals, geographic markets, and services, Tiger has assembled a powerful, diversified, and international workforce. We anticipate his further contributions to the Board," said Madden.

"I want to thank the entire team for their support. Leading the company Genpact has been the highlight of my career," Tyagarajan said. The world is changing quickly around us, and I'm very pleased of what we've accomplished—becoming a genuine partner to our customers worldwide, keeping ahead of the curve, empowering our staff, and impacting the communities in which we live and work. The success of Genpact has been greatly attributed to BK, and I have no doubt that under his direction, we are well-positioned for our next stage of development and expansion.

Sector-wide tendency

This year, Tyagarajan is not the first CEO of an IT business to resign. Almost all of the leading IT businesses have seen CEO changes in 2023 as the industry navigates a difficult macro climate and uncertain demand.

On December 19, 2023, CP Gurnani, the CEO of Tech Mahindra, will also retire. Rajesh Gopinathan abruptly left Tata Consultancy Services (TCS), the biggest provider of IT services in the nation, and K Krithivasan was named CEO. Prior to this, Debashis Chatterjee was named CEO of the combined LTIMindtree company.

Mohit Joshi of Infosys is the CEO-designate at Tech Mahindra, whereas Ravi Kumar S, the former president of Infosys, was named as Cognizant's worldwide CEO in January 2023.