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ASHBURN, Va. – DXC Expertise (NYSE: NYSE:), a Fortune 500 world know-how providers firm, introduced the appointment of Raul Fernandez as President and Chief Government Officer. Fernandez, who has served as interim president and CEO since December 2023, was unanimously chosen by the Board of Administrators to steer the corporate.
With a tenure on the DXC board since 2020 and a historical past of main profitable corporations, Fernandez brings a wealth of expertise to his new everlasting function. The Board of Administrators praised his management and operational experience, in addition to his in-depth data of DXC’s enterprise, as key elements of their determination. David Herzog, chairman of DXC’s board of administrators, expressed confidence in Fernandez’s capability to drive long-term progress and shareholder worth.
Fernandez’s background features a vital presence within the know-how trade and sports activities leisure. He’s vice chairman and co-owner of Monumental Sports activities & Leisure and serves on the boards of a number of organizations, together with Broadcom (NASDAQ:), Inc. He additionally has a historical past of entrepreneurship and management in know-how corporations, akin to founding Proxicom and serving as CEO, which led to a profitable IPO.
The announcement of Fernandez’s appointment coincides with the suspension of the Board’s beforehand initiated seek for a brand new CEO. As well as, DXC introduced its third quarter fiscal 2024 outcomes and can additional talk about the monetary ends in a convention name and webcast.
The data on this article is predicated on a press launch from DXC Expertise.
InvestingPro Insights
As DXC Expertise ushers in a brand new period of management underneath Raul Fernandez, traders are conserving a detailed eye on the corporate’s monetary well being and market efficiency. In response to latest information from InvestingPro, DXC Expertise has a market cap of roughly $4.2 billion. Regardless of some challenges, akin to a decline in income progress of -8.66% over the past twelve months, the corporate is predicted to show round and web revenue is predicted to develop this yr. This can be a optimistic signal for traders contemplating the corporate’s aggressive inventory buyback technique, as highlighted in one of many InvestingPro Suggestions.
One other InvestingPro tip of be aware is the sturdy free money move return implied by DXC’s valuation, which might be engaging to traders searching for corporations with the potential to generate wholesome money flows. It is also value noting that whereas the corporate would not pay a dividend, analysts predict DXC will probably be worthwhile this yr, which may point out a shift to extra steady monetary footing.
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This text was produced with the help of AI and reviewed by an editor. For extra info see our Normal Phrases and Situations.