Business

Genpact announced a leadership succession plan. “Tiger” Tyagarajan, President and Chief Executive Officer, has informed the Board of Directors of his intention to retire from the company, effective February 9, 2024. The company’s Board has appointed Balkrishan “BK” Kalra, Genpact’s Global Business Leader, Financial Services and Consumer & Healthcare, as Genpact’s next CEO.

Kalra will join the company’s Board on February 9, 2024, and Tyagarajan will continue as a member of the Board of Directors.

Kalra is a transformative business leader, with more than 30 years of experience helping companies grow from early stage to large, globally competitive enterprises.

He joined Genpact in 1999 and has served in a variety of increasing leadership roles across the company. He leads Genpact’s global transformation efforts across the banking, capital markets, consumer goods, retail, life sciences and healthcare industries, helping companies better leverage technology and AI-enabled solutions.

“We are delighted to announce BK as Genpact’s next CEO, a leader with a proven track record of delivering business results and fostering deep client relationships,” said James Madden, Chairman of Genpact’s Board of Directors. “In planning for Tiger’s retirement, the Board undertook a robust process, assessing a number of internal and external candidates. In the end, BK stood out as the natural successor. He understands the importance of investing in emerging trends and technologies with a particular focus on Genpact’s efforts around advanced analytics and AI-enabled solutions. BK’s strategic vision and deep understanding of our clients and business is exactly what Genpact needs as we enter this new chapter.”

“I am honoured to assume the CEO role and appreciate the confidence and trust that Tiger and the Board have placed in me,” said Kalra. “With an immensely talented workforce and a deep history of developing innovative solutions for our clients, Genpact has a unique opportunity to lead our industry. I look forward to working closely with the Board and our leadership team to accelerate a new chapter of growth for Genpact, one with technology at the forefront of everything we do to unlock tremendous potential for our clients, employees, and shareholders alike.”

Tyagarajan assumed the CEO role in 2011 and led Genpact through a period of tremendous growth. During that time, he helped transform the company into a recognized industry leader with more than $4.3 billion in annual 2022 revenue, leveraging data and technology to better serve its clients.

“On behalf of the Board and the entire organisation, I would like to express our sincere appreciation for Tiger’s leadership of Genpact over the last 12 years,” said Madden. “Tiger has built a strong, diverse, and global team, focused on a clear set of prioritised verticals, geographic markets, and services. We look forward to his continued contributions on the Board.”

Tyagarajan concluded, “Leading Genpact has been the highlight of my career, and I would like to thank the entire team for their support. The world is rapidly changing around us, and I am incredibly proud of what we have achieved, staying ahead of the curve as a true partner to our clients around the world, empowering our employees, and transforming the communities in which we live and operate. BK has been an integral part of Genpact’s success, and I am confident that, under his leadership, we are well positioned for the next phase of our journey and future growth.”