HEXAWARE SHARES FALL AS CEO EXIT CLOUDS GROWTH RECOVERY

Shares of Hexaware Technologies declined as much as 3.8% on September 3 after the IT services company announced that CEO Srikrishna Ramakarthikeyan had resigned to pursue personal interests. The leadership change prompted investors to reassess the company’s growth outlook. Hexaware has appointed Vivek Jetley, a senior executive at Nasdaq-listed EXL, as its new CEO, effective October 28. Analysts raised concerns over the timing of the leadership transition, noting that the change comes midway through Hexaware’s efforts to revive growth. According to the brokerage, the transition could raise execution risks and potentially extend the company’s recovery period. A CEO transition at a technology services company can also have broader organisational implications, analysts noted, as senior business heads and other key executives may follow the outgoing leader. Ramakarthikeyan’s departure comes at a challenging time for the Indian IT services sector, which is navigating AI-driven disruption and continued macroeconomic uncertainty. These factors have led several clients to reassess and moderate their technology spending. Hexaware, the 10th-largest Indian IT services company by revenue, lowered its CY26 revenue growth guidance to 6–7% following its June-quarter results, compared with its earlier expectation of at least 7.6%.