Genpact has unveiled its leadership succession plan. Tiger Tyagarajan, who currently serves as the President and CEO, has informed the company’s Board of Directors of his retirement intentions, which will take effect on February 9, 2024. In response to Tyagarajan’s retirement, the Board has appointed Balkrishan “BK” Kalra, Genpact’s Global Business Leader for Financial Services and Consumer & Healthcare, as the next CEO.
Kalra is set to join the Board on the same date, while Tyagarajan will continue as a member of the Board of Directors. BK Kalra is a seasoned business leader with over three decades of experience in aiding companies’ growth, from their early stages to becoming global competitive enterprises.
Having joined Genpact in 1999, he has held various leadership roles within the organisation. Kalra is responsible for overseeing Genpact’s global transformation efforts in industries such as banking, capital markets, consumer goods, retail, life sciences, and healthcare, facilitating companies in effectively harnessing technology and AI-enabled solutions.
James Madden, Chairman of Genpact’s Board of Directors, expressed his satisfaction with the leadership change, stating, “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.
Madden highlighted that Kalra 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.”
Expressing his enthusiasm, 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. 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.”
Tiger Tyagarajan, who took on the CEO role in 2011, has played a pivotal role in leading Genpact through a period of remarkable growth. Under his leadership, the company transformed into an industry leader with annual revenue exceeding $4.3 billion in 2022, primarily by leveraging data and technology to enhance client services.
James Madden acknowledged Tyagarajan’s contributions, stating, “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.”
Tyagarajan expressed his gratitude, saying, “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.”
Also read: Genpact, NASSCOM Partner to Bring Generative AI Playbook
The post Genpact Announces BK Kalra as the New CEO appeared first on Analytics India Magazine.
