Tuesday, March 19, 2019

Accenture Chairman & CEO Pierre Nanterme Steps Down for Health Reasons; David Rowland Appointed Interim Chief Executive Officer; Marge Magner Named Non-Executive Chai

BWW News Desk
January 11, 2019

Accenture NYSEACNb bannounced that effective immediately Chairman and CEO Pierre Nanterme has stepped down for health reasons that were previously disclosed in July 2016 Accentures Board of Directors appointed David Rowland who has been Accentures chief financial officer to become interim chief executive officer and to the board as a director of Accenture and named lead independent director Marge Magner as the companys nonexecutive chair of the board The company also appointed KC McClure who currently leads Accentures finance operations as chief financial officer Nanterme will continue at Accenture as advisor to the CEO pblockquotep idpullquotepblockquote p It has been my honor and privilege to serve Accentures people and our clients for my entire 36year career and Ive never been more confident in our business strategy leadership team and people said Nanterme I know that Davids significant involvement in developing and delivering our growth strategy to rotate our business to new highgrowth areas of digital cloud and security and his tenure as a highly respected senior leader and developer of talent will make this transition seamless This is the right decision for my family and me so I can focus on my health p p Pierre is stepping down after a remarkable career at Accenture said Magner On behalf of the board we thank Pierre for his leadership and visionary role in transforming the company to lead in a digital world As chairman and CEO Pierre demonstrated exceptional commitment to clients and a passion for developing a deep bench of extraordinary leaders and has been an outstanding advocate for creating a culture of equality at Accenture He has had and will continue to have the boards full support p p Looking ahead David is the right choice to serve as interim CEO David brings deep knowledge of Accentures business the global marketplace and the competitive environment coupled with his unparalleled commitment to driving value for our clients our people and our shareholders I have personally worked with David for more than a decade and he has the full support of the board p p Rowland has served as Accentures chief financial officer since July 2013 Throughout his 35year career with the company he has held significant leadership roles and played a lead role shaping Accentures growth strategy Rowland is a longstanding member of Accentures Global Management Committee and has served on the board and as Audit Committee chair for Avanade a joint venture of Accenture and Microsoft Prior to being named CFO Rowland served for more than six years as Accentures senior vice president of Finance and chaired Accentures Operations Council p p McClure brings to her new role as chief financial officer 30 years of experience with the company Most recently she led finance operations across the entirety of Accentures business McClure has also led investor relations and was finance director for two of Accentures operating groups In her new role McClure will join Accentures Global Management Committee p p I am very honored to serve as Accentures interim chief executive officer said Rowland I look forward to working closely with our talented bestinclass leadership team including KC as our new CFO to continue building on the strong momentum in our business and strengthening our market leadership in the New On behalf of our 469000 Accenture people around the world I want to thank Pierre for his inspirational leadership and stewardship of our company He has clearly left Accenture better positioned for generations to come p p Accenture confirmed that there is no change to the business outlook for the second quarter and full fiscal year 2019 that the company provided as part of its first quarter fiscal 2019 earnings announcement on December 20 2018 p p bNanterme Highlights as Chairman amp CEO 2011 to 2019b p p Nanterme became chief executive officer in January 2011 and assumed the additional position of chairman of the board in February 2013 During his tenure Accenture has consistently delivered very strong financial results with revenue growth well ahead of the market excellent EPS growth and significant total returns to shareholdersSpecifically Accentures net revenues grew 55 percent from 255 billion in fiscal 2011 to 396 billion in fiscal 2018 ended Aug 31 2018 During his tenure as CEO Accentures market cap increasedapproximately 70 billion to 108 billion through Aug 31 2018 with a total return to shareholders of 309 percent p p Nanterme transformed Accenture and was instrumental in rotating its business to highgrowth areas in the New digital cloud and securityrelated services which together account for more than 60 percent of Accentures total revenues He dramatically increased Accentures investment in the business to enhance the companys endtoend capabilities and differentiation Nanterme has been an outspoken advocate for Accentures commitment to inclusion and diversity including gender equality and set an ambitious new target of achieving a genderbalanced workforce by 2025 p p bAbout Accentureb p p Accenture is a leading global professional services company providing a broad range of services and solutions in strategy consulting digital technology and operations Combining unmatched experience and specialized skills across more than 40 industries and all business functions underpinned by the worlds largest delivery network Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders With approximately 469000 people serving clients in more than 120 countries Accenture drives innovation to improve the way the world works and lives Visit us at a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Fwwwaccenturecomampesheet51924464ampnewsitemid20190111005065amplanenUSampanchorwwwaccenturecomampindex1ampmd576794a0e7b9ab449123e6ee5a91af4b1 relnofollowwwwaccenturecoma p p bForwardLooking Statementsb p p Except for the historical information and discussions contained herein statements in this news release may constitute forwardlooking statements within the meaning of the Private Securities Litigation Reform Act of 1995 Words such as may will should likely anticipates expects intends plans projects believes estimates positioned outlook and similar expressions are used to identify these forwardlooking statements These statements involve a number of risks uncertainties and other factors that could cause actual results to differ materially from those expressed or implied These include without limitation risks that Accentures results of operations could be adversely affected by volatile negative or uncertain economic and political conditions and the effects of these conditions on the companys clients businesses and levels of business activity Accentures business depends on generating and maintaining ongoing profitable client demand for the companys services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings and a significant reduction in such demand or an inability to respond to the changing technological environment could materially affect the companys results of operations if Accenture is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills the companys business the utilization rate of the companys professionals and the companys results of operations may be materially adversely affected Accenture could face legal reputational and financial risks if the company fails to protect client andor company data from security breaches or cyberattacks the markets in which Accenture operates are highly competitive and Accenture might not be able to compete effectively changes in Accentures level of taxes as well as audits investigations and tax proceedings or changes in tax laws or in their interpretation or enforcement could have a material adverse effect on the companys effective tax rate results of operations cash flows and financial condition Accentures profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions if the company is unable to remain competitive if its costmanagement strategies are unsuccessful or if it experiences delivery inefficiencies Accentures results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates as a result of Accentures geographically diverse operations and its growth strategy to continue geographic expansion the company is more susceptible to certain risks Accentures business could be materially adversely affected if the company incurs legal liability Accentures work with government clients exposes the company to additional risks inherent in the government contracting environment if Accenture is unable to manage the organizational challenges associated with its size the company might be unable to achieve its business objectives if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies the companys results of operations could be adversely affected Accentures ability to attract and retain business and employees may depend on its reputation in the marketplace Accenture might not be successful at acquiring investing in or integrating businesses entering into joint ventures or divesting businesses if Accenture is unable to protect its intellectual property rights or if Accentures services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others its business could be adversely affected changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results many of Accentures contracts include payments that link some of its fees to the attainment of performance or business targets andor require the company to meet specific service levels which could increase the variability of the companys revenues and impact its margins Accentures results of operations and share price could be adversely affected if it is unable to maintain effective internal controls Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital it may dilute its shareholders ownership interest in the company Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland as well as the risks uncertainties and other factors discussed under the Risk Factors heading in Accenture plcs most recent annual report on Form 10K and other documents filed with or furnished to the Securities and Exchange Commission Statements in this news release speak only as of the date they were made and Accenture undertakes no duty to update any forwardlooking statements made in this news release or to conform such statements to actual results or changes in Accentures expectations p p classbwalignc p

SOURCE: BUSINESS WIRE. ©2015 Business Wire

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