Key takeaways
- Tiger Tyagarajan is retiring after over a decade as CEO of Genpact.
- He led Genpact to annual revenues exceeding $4.3 billion in 2022.
- Tyagarajan emphasized that digital transformation focuses on people, not just technology.
- He views his tenure at Genpact as a life-changing opportunity for growth and learning.
- Under his leadership, Genpact became a key player in shaping business practices.
Tiger Tyagarajan, the long-standing CEO of Genpact, is gearing up for his retirement -- and the news is making waves in the corporate world. Serving as the company's CEO since 2011, he led Genpact through a remarkable period of growth.
Under his leadership, the company evolved into a major industry player with annual revenues exceeding $4.3 billion in 2022, thanks to innovative strategies leveraging data and technology.
“To call it work is not the way I saw it... it was life, a life full of unbelievable learnings, driven by a hyper-curious team,” said Tiger in his LinkedIn post. “It's very rare in life to have the opportunity to be part of the creation of “an industry”, “an economic trajectory”, and establish the way businesses are run, and the way work is done today.”
He added that leading Genpact has been the highlight of his career. “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.
'Digital Transformation is not about technology, it’s about people'
Tiger did his B.Tech in Mechanical Engineering from IIT Bombay and later an MBA from IIM Ahmedabad. Later on, he became the regional sales manager at Unilever India. After working at Citibank, GE Capital, Catalyst Inc, and Kantar, he joined Genpact as EVP in 2005.
Tiger Tyagarajan's journey has been remarkable. He was responsible for turning a division of General Electric into the global industry leader Genpact. He was also recognised by INvolve on their Empower Executives Role Models list for Genpact's continued advancement of diversity, equity, and inclusion (DEI) in the workplace.
Tyagarajan's unique perspective lay in understanding that digital transformation wasn't merely about adopting new technology, but fundamentally rethinking how businesses operated. He believed that real digital transformation went beyond automation, involving a complete reimagination of the entire business by leveraging technology, data, and AI.
He believes in "the relentless pursuit of a world that works better for people".
The global shift towards cloud computing, data analytics, and predictive insights for decision-making has made the business world increasingly virtual. Additionally, there is a growing emphasis on Environmental, Social, and Governance (ESG) concerns, with climate sustainability taking centre stage, particularly among the younger generations.
Genpact's strategy integrates diversity and inclusion, aligning it with business goals and leveraging cognitive diversity for better insights. The company aims to assist clients in building sustainable supply chain ecosystems and achieving ESG goals.
As a leader, Tyagarajan values speed and believes in the balance between speed and perfection, often leaning towards iterating and testing solutions in the marketplace. He promotes an environment where curiosity is encouraged and nurtured, fostering a culture of continuous learning.
Moreover, he advocates for individuals to bring their "whole selves" to work, emphasising the congruence between personal and professional life.
Tyagarajan's leadership principles are deeply rooted in enabling employees to realise their untapped potential while fostering a collaborative and open learning environment. He remains open to learning from younger talent in fields like NFTs, blockchains, Bitcoins, and the metaverse. He approaches new leadership roles with humility, embracing the challenge while acknowledging the significance of the team that surrounds him.
Industry leaders wish the best for Tiger
His nearly two-decade journey with Genpact was nothing short of impressive. The board's chairman, William Madden, expressed his gratitude and admiration for Tyagarajan's leadership, emphasising the diverse and global team he built during his 12-year tenure.
“On behalf of the Board and the entire organisation, I would like to express our sincere appreciation for Tiger’s leadership of Genpact over the last 12 years. Tiger has built a strong, diverse, and global team, focused on a clear set of prioritised verticals, geographic markets, and services. We look forward to his continued contributions on the board,” Madden said.
Kurush Irani, president of Bajaj Finance called it an end of another era for Genpact. “Tiger Tyagarajan, congratulations on the legacy created at Genpact and the many-many successes. Lots of great learning and memories with you.”
In response, Tyagarajan expressed his deep appreciation for the support he had received from the Genpact team. He reflected on the dynamic global landscape and the company's impressive achievements, emphasising their ability to stay ahead of industry trends, support clients worldwide, empower employees, and positively impact the communities in which they operated.
Post retirement, Tyagarajan will continue to be part of the board of directors for Genpact. His successor, BK Kalra, will assume the CEO position from February 2024. Tyagarajan has been enthusiastic and happy about Kalra’s appointment.
