Genpact, a global professional services firm focused on delivering outcomes that transform businesses, announced financial results for the third quarter ended September 30, 2023. Recently, the company has announced a leadership succession plan.
Tiger Tyagarajan, Genpact President and CEO, said, “During the third quarter, we saw increasing pressure in short-cycle advisory and other project work as clients remained sharply focused on large transformation deals that prioritize cost reductions.”
“This resulted in total revenue below our expectations. However, bookings remain strong and on pace to grow at least 25% in 2023,” said Tiger Tyagarajan.
“In addition, we continue to make significant progress in the use and deployment of generative AI, as we move into live production environments with early demonstrated results”, Tiger Tyagarajan added.
Tiger Tyagarajan further said, “This is leading to many new inflows as clients prepare to embed large language models into their operations”
The company’s President and Chief Executive Officer Tiger Tyagarajan shared his intention to retire from the company, effective February 9, 2024. In this role as CEO, Tiger Tyagarajan has led tremendous growth of the company.
As a replacement as Genpact’s next President and Chief Executive Officer, the company has appointed Balkrishan “BK” Kalra, Genpact’s Global Business Leader, Financial Services and Consumer & Healthcare effective February 9, 2024.
“I am honored to assume the CEO role and appreciate the confidence and trust that Tiger and the Board have placed in me,” said Kalra.
“I look forward to working closely with the Board and our leadership team to accelerate a new chapter of growth for Genpact”, Kalra added.
BK Kalra is a leader with a proven track record of delivering business results and fostering deep client relationships. He is a business leader with more than 30 years of experience.
Note: (We are on WhatsApp. To get the latest news updates, Join our Channel. Click here)
