Archive · 3 Sep 2026
Hexaware Names EXL Veteran Jetley CEO as Srikrishna Steps Down
Hexaware is an information technology company that is changing its chief executive.
Vivek Jetley, who worked at a company called EXL, will become the new CEO.
Ramakarthikeyan Srikrishna, also called Keech, is leaving the CEO role after 12 years.
He will stay temporarily as a senior advisor to help with the change.
Jetley has worked in consulting, analytics, data and artificial intelligence.
He wants to help Hexaware become a stronger AI-focused services company.
Hexaware grew its revenue last year, but its growth was slower than some similar companies.
Its stock has also fallen substantially compared with several peers.
One Hexaware service, called Zero License, aims to let customers use its software without paying some outside licensing costs.
Hexaware appointed EXL executive Vivek Jetley as CEO for a four-year term.
Ramakarthikeyan Srikrishna, known as Keech, will step down after 12 years and become a senior advisor.
Jetley is scheduled to take over on October 28, 2026, when Srikrishna will leave Hexaware’s board.
Jetley previously led EXL’s $1.4 billion insurance, healthcare and life sciences business and has more than 25 years of experience.
Hexaware reported $1.54 billion in annual revenue, while its shares have significantly underperformed several technology-services peers.
- Who
- Hexaware Technologies, incoming CEO Vivek Jetley, outgoing CEO Ramakarthikeyan Srikrishna, and majority shareholder Carlyle.
- What
- Hexaware appointed Jetley as CEO and accepted Srikrishna’s resignation after his 12-year tenure.
- When
- The appointment was reported on Tuesday and Wednesday; Jetley is scheduled to take over on October 28, 2026.
- Where
- Hexaware is headquartered in Mumbai, while Jetley joins from New York-headquartered EXL.
- Why
- The board is changing leadership as Hexaware seeks its next phase of growth and expands its data- and AI-led services.
Leadership opportunity
Performance concerns
External successor
Leadership opportunity
Hexaware and Carlyle described Jetley as capable of scaling businesses, strengthening enterprise relationships, and building data- and AI-led growth platforms.
Performance concerns
Jetley is an external hire taking over after Srikrishna’s long tenure, creating a leadership transition while Hexaware faces slower growth than some peers.
AI-led strategy
Leadership opportunity
Jetley said AI is reshaping IT services and that Hexaware has an opportunity to become a leading AI-led services company. A brokerage also called the company’s Zero License offering differentiated.
Performance concerns
The Zero License strategy still needs to generate deal wins and revenue, and its long-term commercial impact remains to be demonstrated.
Business and shareholder results
Leadership opportunity
Under Srikrishna, Hexaware returned to the stock exchanges, joined the billion-dollar technology-services group, and improved its operating margin to 14.4%.
Performance concerns
Hexaware’s revenue growth lagged Coforge and Persistent Systems, while its shares underperformed the peers cited in the reports.
- Incoming CEO
- Vivek Jetley, formerly president of EXL’s insurance, healthcare and life sciences businesses
- Outgoing CEO
- Ramakarthikeyan Srikrishna, also known as Keech
- Leadership transition
- Jetley is expected to take over on October 28, 2026; Srikrishna will become senior advisor and leave the board
- Jetley’s appointment
- Four-year CEO term
- Carlyle ownership
- 74.3% of Hexaware
- Annual revenue
- $1.54 billion last year, up 7.6% year over year
- Operating margin
- 14.4%, up 80 basis points year over year
- Share performance
- One report said Hexaware stock fell 1.3% on Wednesday and was down 28.72% during the year; another reported different declines for separate market dates
