Summary
Accenture plc (ACN) filed an 8-K on January 11, 2019, to announce significant leadership changes. Citing health reasons, Pierre Nanterme has stepped down as Chairman and CEO and as a director. David Rowland, previously the Chief Financial Officer, has been appointed as the interim CEO and a director, effective January 10, 2019. Marge Magner, a long-standing director, has been appointed non-executive chair of the Board. KC McClure has been appointed as the new Chief Financial Officer, also effective January 10, 2019. These changes are effective immediately for the interim CEO and CFO roles, with compensation arrangements to be determined at a later date. Nanterme will serve as an advisor to the CEO and will not stand for re-election at the upcoming annual general meeting. Investors should note the internal succession for key leadership roles, with Rowland's extensive financial background and McClure's operational finance experience expected to provide continuity. The filing also confirms that proxies will be voted for Rowland's election as a director.
Key Highlights
- 1Pierre Nanterme resigns as Chairman and CEO for health reasons.
- 2David Rowland appointed interim CEO and director, effective January 10, 2019.
- 3Marge Magner appointed non-executive Chair of the Board.
- 4KC McClure appointed Chief Financial Officer, effective January 10, 2019.
- 5David Rowland has deep knowledge of Accenture's business and has served as CFO since July 2013.
- 6KC McClure has extensive experience in finance operations and investor relations.
- 7Pierre Nanterme will serve as an advisor to the CEO and will not stand for re-election.