Hexaware Tech shares in focus as CEO resigns; read full resignation letter

Hexaware Technologies Ltd shares are in focus on Thursday after CEO and Wholetime Director Srikrishna Ramakarthikeyan resigned from the IT firm, effective October 28, 2026. He has also resigned from his positions at Hexaware Technologies Inc (HTI), a wholly owned subsidiary, with effect from the same date.

Ramakarthikeyan will be relieved of his employment with the company and HTI, but will continue to be associated with Hexaware Tech as a Senior Advisor from October 28 to support a smooth transition.

Hexaware Tech shares are down 28.13 per cent year-to-date compared with 19 per cent drop in the BSE Information Technology index. Hexaware recently lowered its 2026 revenue guidance. The management commentary suggested that the growth was largely being deferred rather than lost, MOFSL said in a recent note. The brokerage expected delayed deal ramp-ups, continued momentum in modernisation programs, and healthy growth across banking, healthcare, and manufacturing should support a stronger exit in 2026 and provide a better starting point for 2027.

A host of brokerages, including CLSA, Kotak Institutional Equities and Axis Capital, retained their ‘Buy’ or ‘Accumulate’ ratings on Hexaware Technologies Ltd following its AI Day.

Meanwhile, based on the recommendation of the Nomination and Remuneration Committee, the Hexaware board approved the appointment of Vivek Jetley as CEO, effective October 28, 2026. Jetley will join Hexaware Tech from EXL, where he is President and leads its insurance, healthcare and life sciences businesses.

Jetley will hold office as the Chief Executive Officer, for a period of four years with effect from October 28. He is joining Hexaware Tech from EXL, where he currently serves as President and leads their Insurance, Healthcare and Life Science businesses.

Resignation letter: What Ramakarthikeyan wrote

Ramakarthikeyan said: "I am writing to tender my resignation as (i) the Chief Executive Officer of Hexaware Technologies Limited (the “Company”) and of Hexaware Technologies Inc., a wholly owned subsidiary of the Company (“HTI”); (ii) Whole-time Director of the Company; and (iii) Director of the subsidiaries of the company, in each case, with effect from October 28, 2026, to pursue personal interests.

Serving in this role has been one of the most fulfilling chapters of my professional life, and I am deeply grateful for the trust placed in me by the Board, our shareholders, and the broader Hexaware family.

During my tenure, I have had the privilege of witnessing and contributing to a meaningful transformation of the company, both in terms of financial performance and the positive impact we have had on our associates, clients, and partners.

I request you to kindly acknowledge the receipt of this resignation letter and complete all necessary compliances, including the filing of required filings and e-forms with the stock exchanges and Registrar of Companies in accordance with applicable laws.

I will remain available to the company and its subsidiaries to support a smooth transition and I leave with every confidence in the company’s continued growth and success."