The leading data analytics and digital operations company, EXL (NASDAQ: EXLS), has announced significant changes to its board of directors and management structure in a bid to enhance its focus on data and AI and position the company for continued growth. These changes, effective as of April 1, 2024, are aimed at driving overall corporate performance and the adoption of data and AI-led solutions.
Rohit Kapoor, who has been serving as the company's Chief Executive Officer (CEO) since 2008, has been appointed as the new Board Chair in addition to his current role. This transition reflects the board's high degree of confidence in EXL's strategic direction under Kapoor's leadership. In turn, Vikram Pandit, the current Board Chair, will transition to the role of Lead Independent Director.
Notably, Vikas Bhalla, the current Executive Vice President and Head of Insurance, and Vivek Jetley, the current Executive Vice President and Head of Analytics, have each been promoted to the position of President of EXL, in addition to their existing business head roles. In their expanded capacities, they will take on broader companywide responsibilities, including supporting the Board Chair & CEO to drive overall corporate performance and the adoption of data and AI-led solutions.
EXL's transformation into a data and AI-led company is further evidenced by these changes, signaling the company's commitment to optimizing its leadership structure to execute on its strategic objectives. This move recognizes Bhalla and Jetley for their past contributions and their ability to generate significant value for EXL going forward.
As of the announcement, EXL boasts a global workforce of more than 54,000 employees spanning six continents. The company partners with clients using a data and AI-led approach to reinvent business models, drive better business outcomes, and unlock growth with speed, harnessing the power of data, analytics, AI, and deep industry knowledge to transform operations for leading corporations across various industries, including insurance, healthcare, banking and financial services, media, and retail. EXL was founded in 1999 with core values of innovation, collaboration, excellence, integrity, and respect and is headquartered in New York.
These changes in leadership and management roles are expected to drive EXL's strategic goals and further solidify its position in the data analytics and digital operations space, setting the stage for continued growth and innovation in the industry. The market has reacted to these announcements by moving the company's shares 0.5% to a price of $31.03. For more information, read the company's full 8-K submission here.
