 "N.V. ‘Tiger' Tyagarajan, president and chief executive officer (CEO) of Genpact")
N V ‘Tiger' Tyagarajan will step down as the president and chief executive officer (CEO) of the global professional services firm Genpact in February next year, the company has announced.
Balkrishan ‘BK’ Kalra — the company’s global business leader for financial services, consumer and healthcare — will take over the top role from February 9, while Tiger will continue as a member of the Board of Directors, it said on
late Wednesday.
Tyagarajan was appointed as Genpact’s second CEO in 2011 after serving as the Chief Operating Officer (COO) of the company.
At that time, the firm’s net revenues stood at $1.60 billion. In 2021, its revenues from clients other than GE reached $3.6 billion or 91 per cent of its 2021 total net revenues.
He pioneered a new global business model for the company and transformed it from a division of General Electric (GE Capital International Services) to a global professional services firm, that advises its clients on digital transformation solutions.
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In 2022, the company merged GE’s contribution in the total revenue, making it just another client out of the 800 firms in its portfolio.
Another major change that Tyagarajan brought was to introduce and leverage emerging technologies as the key revenue generator for the company.
As of December 31, 2022, the company’s annual revenue was at $4.37 billion and revenue from Data-Tech and AI services division represented 44 per cent of the total revenue.
Genpact is now betting big on Generative AI, both for its customers as well as internally, Tyagarajan told Business Standard.
“AI is not a new thing for us. We started our journey on AI in 2015…we have incorporated those into our solutions for many years now. What we are now doing is obviously incorporating GPT 3.5 and 4.0,” he said.
His exit comes while Generative AI is poised to create the new phase for Genpact.
“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,” he said.
Tyagarajan also said Genpact will invest about $600 million over three years in AI broadly under three buckets.
“First is the R&D spend to build solutions. The second bucket is the capital allocation that is used for acquisitions. The third bucket is the investment in training because we cannot do the first two without this one,” he said.
The total headcount of the firm has more than doubled during the last 12 years from around 55,000 professionals in 2011 to over 115,000 in 2022.
Geographically, the company was present across 16 countries with 57 delivery centres, which increased to more than 80 delivery centres in 20 countries.
