Hexaware Technologies appoints HCL Tech's R Srikrishna as CEO

Mid-sized IT services firm Hexaware Technologies has appointed R Srikrishna as its new Chief Executive Officer, effective Monday. Srikrishna will take over the role from Vice Chairman and CEO P R Chandrasekar, Hexaware said in a statement.

Prior to this Srikrishna was President of Infrastructure and Life Sciences Businesses at HCL Technologies, it added.

"After a thorough succession planning exercise and a comprehensive search process, the board is pleased to have found an exceptional individual to assume leadership of this growing organisation," Hexaware Technologies Chairman Atul Nishar said. Chandrasekar will retire from the CEO role today but continue as Vice Chairman, Nishar added.

Srikrishna is credited with establishing Infrastructure Services business and growing the Lifesciences & Healthcare business for HCL Technologies.

Hexaware Technologies posted a 21.8 per cent fall in its consolidated net profit at Rs 76.57 crore for the quarter ended June 30, 2014, against Rs 97.90 crore in the same quarter last year. Consolidated income, however, rose by 13.7 per cent to Rs 610.38 crore in the April-June quarter of the current fiscal as against Rs 536.60 crore in Q2, 2013.

The Mumbai-based firm said it expects revenues in the July-September quarter to be in the range of US $ 98.1-100 million, a quarter-on-quarter growth of 3.5-5.5 per cent.