•We identify, analyze and propose managerial competencies for Industry 4.0.•We undertook a robust methodology involving systematic review and expert consultation in identifying 14 key competencies for Industry 4.0.•We propose conceptual framework for Industry 4.0 from human capital perspective.•We discussed the implications of these competencies for Industry, academia and policy makers.•We highlight the different technologies adopted in Industry 4.0. Industry 4.0 (I4.0) is creating a paradigm shift within the current industrial context. The study presented in this paper involved identifying and proposing the managerial competencies needed for a successful I4.0 environment. I4.0 is a complex phenomenon that spans multiple technologies and requires an extensive set of capabilities that managers and organizations need to develop in their functional and business contexts. Using the published literature on I4.0, we uncovered the key themes following a qualitative coding method that identified the managerial competencies most relevant to I4.0. We thus identify a set of 14 managerial competencies as crucial to I4.0. We further contribute to the literature by making an assessment of the significance of all these competencies and proposing a competency model with behavioral descriptors for each. We expect the findings in this paper to benefit business organizations, policy makers, academics, and other stakeholders engaged in developing the capabilities required for an I4.0 ecosystem.