Genpact has announced its president and chief executive officer (CEO) ‘Tiger’ Tyagarajan will retire from the professional services company on February 9 next year. Balkrishan ‘B K’ Kalra, the company’s global business leader for financial services and consumer and healthcare, will be the new CEO.
Kalra led business transformation, a focus area of Genpact, and he has more than 30 years of experience in helping companies grow from early stage to global enterprises. He joined Genpact in 1999 and has served in a variety of leadership roles. His transformation efforts involved banking, capital markets, consumer goods, retail, life sciences and healthcare industries.
“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 a company statement.
Tyagarajan, who was made CEO in 2011, helped transform the company into a recognised industry leader that had more than $4.3 billion in annual revenue in 2022.
“In planning for Tiger’s retirement, the Board undertook a robust process, assessing a number of internal and external candidates. In the end, B K 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. B K’s strategic vision and deep understanding of our clients and business is exactly what Genpact needs as we enter this new chapter,” said Madden, referring to artificial intelligence.
Genpact was founded in Delhi in 1997 as a unit of General Electric. It has transitioned from a business process management firm to a digital transformation services provider to clients many of whom are in the Global Fortune 500 list.
“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,” said Kalra.
Tyagarajan will continue as a member of the board. “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,” he said.
