Founder of BPO Major Genpact, Pramod Bhasin decided to step down as CEO

Pramod Bhasin, who founded BPO firm Genpact in 1997 decided to step down as president and CEO of the firm.  He passed on the role of CEO of Genpact to the COO, N V Tyagarajan, popularly known as Tiger.

Bhasin  was one of the pioneers of the BPO business in India, will serve as the non-executive vice chairman of Genpact, India's biggest outsourcing firm with a revenue of $1.26 billion. Genpact acquired Headstrong, provider of technologies to capital markets, for $550 million in April 2011. Following the acquisition raised the revenue growth estimate for 2011 to 23-25% from its earlier forecast of 10-13%.

Genpact started as GE Capital International Services when Jack Welch, then CEO of GE, was convinced about outsourcing services to India. Bhasin, who was then India head of GE Capital, was assigned the task of establishing the outsourcing arm. In 2003, GE sold 60% in the outsourcing arm to General Atlantic Partners and Oak Hill Capital Partners and became Genpact, which was the time that Bhasin took charge of the business. The company currently has 49,000 employees and has outsourcing centres in 13 countries.