Madhavan Hariharan to take over as Birlasoft CEO

Madhavan Hariharan will take over as Birlasoft Ltd’s CEO after the company reported two consecutive years of revenue decline under former chief executive Angan Guha, while peers continued to grow.

Hariharan, previously the chief financial officer of the $3 billion CKA Birla Group, will take over the reins on 8 December. He will replace Guha, who joined the firm as CEO in December 2022.

"Technology is undergoing one of the most significant transformations in its history. As clients rethink their businesses in an AI-driven world, Birlasoft has a unique opportunity to deepen its relevance, strengthen client partnerships and accelerate growth. Madhavan brings a unique combination of strategic vision, operational discipline and deep familiarity with Birlasoft,” said Amita Birla, co-chairman of CKA Birla Group.

“His wide leadership experience across the CKA Birla Group, coupled with his proven ability to drive business transformation and long-term value creation, makes him ideally positioned to lead Birlasoft into its next chapter,” Birla added.

The leadership change comes as Birlasoft struggled to scale while peers outpaced it during Guha’s tenure.

The company’s compound annual growth rate (CAGR) stood at 0.15% FY23 and FY26. In comparison, Zensar Technologies Ltd, Sonata Software Ltd, and Firstsource Solutions Ltd saw a CAGR of 2.13%, 9.36%, and 13%, respectively. Sonata Software and Firstsource Solutions even entered Indian IT’s $1 billion club during this time.

Birlasoft could not capitalize on the growth momentum of the country's mid-sized IT firms. Companies earning less than $3 billion in revenue have been outperforming their larger peers for the last two years, especially in an uncertain demand environment and the threat of AI eating into their work.

This was compounded by an exodus of senior executives. The company also saw almost half a dozen senior executives leave the firm in the last 24 months, putting a spanner in the works of any possible turnaround after its revenue decline in FY25. The departures included its COO, CFO, CHRO and key business heads.

Guha, meanwhile, is moving to a company that is also struggling to regain its footing.

Less than an hour after Birlasoft announced the exit of CEO Angan Guha, Wipro announced his appointment as the head of one of its largest market units, Americas 2.

The Americas 2 business includes the company’s entire business in Canada and the industry sectors in the United States including banking and financial services, energy, manufacturing and resources, capital markets and insurance, and hi-tech. This market unit makes up about a fourth of its business, as of Q2FY27.

Like Birlasoft, Wipro ended the last two years with a full-year revenue decline and the company’s September quarter guidance factors in another lacklustre year. The Americas 2 unit was the company’s largest cash cow as of two years ago, making up about a third of its revenue. It is now the third-largest of the company’s four units.

Guha has his task cut out. He will “focus on strengthening the business and market momentum across BFSI, Energy & Utilities, and Manufacturing, and to accelerate growth, deepen client relationships, and deliver greater value to our clients in the region,” said Wipro in a release.

“Angan brings considerable experience in precisely these areas. I believe this is a smart appointment by Srini Pallia, bringing back someone who understands how Wipro operates but has also gained valuable perspective from leading another major services business,” said Phil Fersht, chief executive of HFS Research.

With this, Guha will join his former stomping ground, where he spent almost three decades, most recently as the chief executive of its Americas business, which then made up a third of its revenue.

“We are delighted to welcome Angan to Wipro’s leadership team,” said Srini Pallia, CEO of Wipro, as part of a press release uploaded to the stock exchanges late on Friday. “His experience in driving business growth, combined with his focus on innovation and execution, will be valuable as we strengthen our Americas business,” Pallia added.

Guha replaces Suzanne Dann, who left as CEO of Americas 2 in May this year.

Jas Bardia is a Bengaluru-based business journalist covering India’s information technology (IT) services sector and Global Capability Centres (GCCs). Known for his investigative depth and attention to detail, Jas has a knack for breaking stories on leadership shifts, high-stakes deals, and evolving industry trends long before they hit the mainstream. If the news is anything IT-related, chances are this author has broken it. Before joining Mint in November 2023, Jas honed his financial reporting skills at Bloomberg News in Mumbai, where he covered bonds and currencies following his graduation from the Asian College of Journalism. When he isn’t chasing his next exclusive, Jas is likely scouting the city’s newest culinary spots, cool events, or is immersed in the electric atmosphere of a Bengaluru FC match at the Sree Kanteerava Stadium. Jas has an eye for detail, an ear for history, and a weakness for a great cologne, and values a good conversation as much as a good lead. If you want to talk about your favourite war movie, funny drunk stories, or a supposed “scam”/wrongdoing in a company, get in touch with him at jas.bardia@livemint.com.

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