Hexaware Technologies appointed Vivek Jetley as its new Chief Executive Officer effective October 28, 2026. The Board also accepted the resignation of Srikrishna Ramakarthikeyan from his roles as CEO and Whole-time Director on the same date.

Leadership transition details

The change marks a shift from a co-CEO structure at Hexaware Technologies. Srikrishna Ramakarthikeyan’s exit on October 28, 2026 paved the way for Vivek Jetley to assume the role of CEO. Ramakarthikeyan will continue with the company as a Senior Advisor starting from his departure date.

The appointment was announced on September 2, 2026. Larry Quinlan, Non-Executive Chairman of Hexaware, thanked Ramakarthikeyan for his contributions over the past 12 years and expressed excitement about welcoming Jetley. Sandra Horbach, Hexaware Board Member and Chair of Americas Corporate Private Equity at Carlyle, noted that Carlyle is excited to support Jetley as he steps into the role.

New CEO profile

Vivek Jetley brings more than 25 years of experience in AI, data, and enterprise transformation. He joins Hexaware from EXL, where he served as President leading Insurance, Healthcare, and Life Science businesses. Prior to this, he led EXL analytics and was instrumental in transforming the firm into a data and AI-led enterprise. Jetley holds an MBA from the Indian Institute of Management Calcutta.

Jetley joined EXL in 2006 through the acquisition of Inductis, a specialized analytics consulting firm where he was a partner. During two decades at EXL, he held various leadership roles with responsibility for corporate strategy, strategic partnerships, innovation and led several acquisitions.

EXL announced on September 2, 2026 that Jetley would depart effective October 26, 2026 to assume the Hexaware CEO role. Rohit Kapoor, chairman and chief executive officer of EXL, noted Jetley’s instrumental part in EXL’s evolution over nearly 20 years. Jetley will assist with the transition of his responsibilities at EXL over the coming months.

Jetley stated that AI adoption is fundamentally changing how services are delivered and how enterprises create value. He aims to shape Hexaware into a leading AI-led services company.

Analyst view

HSBC maintained a Hold rating on Hexaware with a target price of ₹575. The broker noted that incoming CEO Vivek Jetley takes over with a mandate to reaccelerate growth through sharper execution. However, HSBC highlighted that near-term business weakness remains a concern for investors.

HDFC Mutual Fund has crossed the 5% ownership threshold in Hexaware Technologies , triggering a mandatory disclosure under SEBI regulations.

The mutual fund house increased its aggregate holding to 5.21% of the paid-up equity share capital as of August 26, 2026. This follows the acquisition of 14,06,254 shares via open market purchases, raising its total stake from 4.98% previously.

Acquisition Details

The increase in holding brings HDFC Mutual Fund’s total shareholding to 3,18,59,815 equity shares. The company’s total paid-up equity capital remains at Rs. 61,10,15,992, comprising 61,10,15,992 equity shares of Rs. 1 each.

The acquisition involved various schemes managed by HDFC Asset Management Company Limited, including the HDFC BSE 500 ETF, HDFC Flexi Cap Fund, and HDFC Technology Fund, among others. No encumbrances or pledges were reported against these holdings.

Regulatory Compliance

The disclosure was filed in accordance with Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. HDFC Mutual Fund notified both the National Stock Exchange of India Ltd. and BSE Limited regarding the change in substantial shareholding.