Hexaware Technologies appoints HCL Tech's R Srikrishna as its CEO

MUMBAI: Hexaware Technologies said on Monday it appointed HCL Tech’s R Srikrishna as its CEO, less than a year after Barings Private Equity Asia bought in a majority stake in the Mumbai-based information technology company.

Since the acquisition by Barings, Hexaware’s growth had faltered and the company brought in a consultancy firms to advise it on boosting margins and to improve its sales effectiveness. Earlier this month, ET had reported that Srikrishna would be taking over as CEO of Hexaware, a management change being pushed by the company’s private equity owners.

"Hexaware has a great foundation of highly talented employees, deep customer relationships and differentiated solutions. We will build on this foundation to create a powerful organization for the future; a future where insights from data, consumerism, mobility, sensors, security and cloud take centre stage." Srikrishna said in a statement.

Srikrishna, who is sometimes called Keech, built HCL infrastructure services offering from scratch to a $1.3-billion business. He also led the healthcare business for HCL, where he focused on building solutions for insurers and the pharma industry. Healthcare and insurance account for 15% of Hexaware's revenue, and infrastructure management service contributes to 6%.

"Keech’s track record of identifying business opportunities ahead of competition, his ability to engage clients and build an organization capable of sustained growth, make him uniquely qualified to lead Hexaware.” Atul Nishar, Chairman of Hexaware said.

P R Chandrasekar will retire from his role as CEO of the company effective immediately and will continue as Vice-Chairman.