Hexaware Appoints HCL's R Srikrishna As CEO
R Srikrishna, a senior executive at HCL Technologies has joined its rival Hexaware Technologies as the CEO. With over two decades of experience in global information services and technology, Srikrishna served as the President of infrastructure services business and life sciences businesses at HCL. Srikrishna will replace PR Chandrasekar, who joined Hexaware from Wipro in 2008. In September last year, Chandrasekar sold his entire stake in Hexaware for Rs.37 Crore.
In his 16 long years in the company, Srikrishna had built HCL infrastructure services offering from scratch to a $1.3 billion business. He has significant business and technology expertise across strategy, acquisition, service excellence, skill building and other strategic areas. Amongst the biggest of them was the conceptualization and execution of Remote Infrastructure Management Services that would eventually lead to the formation of a large Indian Infrastructure Outsourcing industry and HCL achieving a dominant leadership position in that industry due to this effort.
Prior to that, he formulated many similar disruptive value propositions like Satellite Communication, Web Management and Network Management services and he and his team has created many IPs for the organization. He was currently leading the healthcare business for HCL, where he focused on building solutions for insurers and the pharma industry that had contributed to a chunk of the company’s revenue.
“After a thorough succession planning exercise and a comprehensive search process, the board is pleased to have found an exceptional individual in to assume leadership of this growing organization.” said Atul Nishar, Chairman, Hexaware Technologies. He believes that Srikirshna’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.”
Last August, Nishar and PE firm General Atlantic sold their 41.8% stake to Baring for Rs.1,687 crore. While Nishar emphasized on taking a break to live a “stress-free” life for some time, experts opine, investors were no longer happy with Hexawares’ growth performance, which also forced Nishar to let go of his company as buyers wanted to have management control over it.
Srikrishna’s entry at Hexaware will be a boon to revive the company that has over the years, failed to live up to market expectations due to its inability to be more aggressive and was soon overtaken by Cognizant and others, say experts. He is widely respected as one of the most formidable voices in the IT Operations space and is also a thought leader in the area of constructing and managing sustainable large scale outsourcing relationships. has spoken at many prestigious Industry and academic platforms such as Harvard Business School’s (HBS).
With an engineering degree from Indian Institute of Technology, Madras, and a Masters in Business Administration from Indian Institute of Management, Calcutta Srikrishna believes that 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.” he said.
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