Genpact has officially announced the impending retirement of President and CEO NV ‘Tiger’ Tyagarajan on February 9, 2024. In response to this, the company’s board has strategically appointed Balkrishan ‘BK’ Kalra to assume the pivotal role.
Tyagarajan assumed the position of CEO in 2011, guiding Genpact through a phase of remarkable expansion. Under his leadership, the company underwent a transformative journey, emerging as an industry frontrunner with an annual revenue surpassing $4.3 billion in 2022. Tyagarajan’s strategic acumen was instrumental in harnessing the power of data and technology to enhance client services. With a tenure spanning nearly 19 years, his contributions have been pivotal to Genpact’s sustained success.
Having commenced his tenure at Genpact in 1999, Kalra presently serves as the global business leader for financial services and the consumer & healthcare segments within the company. Effective February 9, he assumes the role of CEO and also becomes a member of the company’s board. Meanwhile, Tyagarajan will maintain his presence on the board of directors.
Kalra comes with over 30 years of experience in helping companies grow from early stage to large, at globally competitive enterprises. At Genpact, he 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,” the company said.
James Madden, Chairman of Genpact’s Board of Directors, said, “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.”
“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,” Madden added.
Kalra said, “I am honoured to assume the CEO role and appreciate the confidence and trust that Tiger and the Board have placed in me.”
“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. 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,” Madden said.
Tyagarajan added, “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.”
In February 2005, Tyagarajan joined Genpact as Executive Vice President, steadily advancing through the ranks to attain the esteemed positions of President and CEO in July 2011. Notably, he also serves on the boards of Kantar and Catalyst Inc.
Tyagarajan commenced his professional journey as the regional sales manager at Unilever in 1985. Subsequently, he assumed the role of Vice President at Citibank in 1991. From 1999 to 2002, he held the position of CEO GCF at GECIS, followed by his appointment as Senior Vice President of Global Operations Six Sigma at GE Commercial Finance from 2002 to 2005.
Comments
0 comment