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Sopra Steria Announces the Appointment of Cyril Malargé as Chief Executive Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
The Board of Directors of Sopra Steria has appointed Cyril Malargé as the new CEO, succeeding Vincent Paris who stepped down for personal reasons. Malargé, who has over 20 years of experience with the company and was previously the COO, will take on the role starting 1 March 2022. The company anticipates a strong performance in 2021, with organic revenue growth projected between 6.3% and 6.4% and an operating margin increase to 8.1%. The annual financial results are set to be released on 24 February 2022.
Positive
Cyril Malargé's appointment brings nearly 20 years of experience within Sopra Steria.
Projected organic revenue growth of 6.3% to 6.4%, exceeding previous guidance.
Operating margin expected to rise to 8.1%, higher than earlier estimates.
Free cash flow anticipated to exceed €250 million.
Negative
None.
The Group’s 2021 performance targets will be comfortably achieved
PARIS--(BUSINESS WIRE)--
Regulatory News:
The Board of Directors of Sopra Steria (Paris:SOP)(Euronext Paris: SOP), chaired by Pierre Pasquier, met today and decided to appoint Cyril Malargé to succeed Vincent Paris as Chief Executive Officer.
Mr. Paris wished to be relieved of his duties as CEO of Sopra Steria for personal and family reasons. The Board of Directors has appointed Mr. Malargé, who currently leads the Group's operations as Chief Operating Officer (COO), to succeed him as of 1 March 2022. Mr. Paris will continue to support the Group as Advisor to the Chairman.
Cyril Malargé, 49, holds a doctorate in science, graduating at the top of his class in 1995 from the École Spéciale de Mécanique et d'Electricité, and has had an exemplary career at the company for almost twenty years. He has been Managing Director of the France reporting unit and, for the past 18 months, has served as the Group’s Chief Operating Officer. He has been a member of the Executive Committee since 2015. His appointment is in line with the strategy that has enabled Sopra Steria to stake its place as a leader in French and European tech.
Pierre Pasquier commented, “The Board of Directors and I would like to express our sincere thanks to Vincent Paris who, for more than thirty years – and in particular in his role as CEO since 2015 – has contributed to the success and transformation of our Group. Preliminary estimates of a rebound in results in 2021 confirm this. I can personally attest to his great professional and personal qualities, recognised by all. Mr. Malargé, who succeeds him, has our full confidence in continuing the development of Sopra Steria and adapting it to new challenges. With the management team supporting him, he can count on the commitment of the Board of Directors.”
Vincent Paris added, “I would like to thank Pierre Pasquier sincerely for the trust and the constructive and exacting support he has always given me. I am proud to have been able to contribute in my various functions to the development of Sopra Steria, to which I remain committed. I am pleased to hand over to Cyril Malargé, whose talents I have personally appreciated for many years and who, together with the management team, will be able to take our Group to new heights.”
Cyril Malargé said, “I am honoured to have been appointed as Chief Executive Officer of Sopra Steria and would like to thank Mr. Pasquier and the Board of Directors for their confidence. I would like to pay tribute to Vincent Paris for his decisive contribution to the development of the Group. With the support of the Board of Directors, the Executive Committee, all the employees and myself are fully mobilised to continue to provide the best service to our clients and pursue the Group's strategy to achieve the objectives we have set ourselves.”
The detailed results for the 2021 financial year will be published as planned on 24 February 2022 and presented by Messrs. Paris, Malargé and du Vignaux, the Group's CFO. Current estimates1 confirm a decisive rebound in operating performance in 2021 and the comfortable achievement of full-year targets. Organic revenue growth is estimated at between 6.3% and 6.4% (previous guidance: “greater than or equal to 6%”). The operating margin on business activity is estimated to be up by more than 1 point at 8.1% (previous guidance: “between 7.7% and 8.0%”). Cash performance is expected to be very solid, with free cash flow of more than €250m (previous guidance: “between €150m and €200m”).
Next financial release
Thursday, 24 February 2022 (before market open): Publication of FY 2021 results
Disclaimer
This document contains forward-looking information subject to certain risks and uncertainties that may affect the Group’s future growth and financial results. Readers are reminded that licence agreements, which often represent investments for clients, are signed in greater numbers in the second half of the year, with varying impacts on end-of-year performance. Actual outcomes and results may differ from those described in this document due to operational risks and uncertainties. More detailed information on the potential risks that may affect the Group’s financial results can be found in the 2020 Universal Registration Document filed with the Autorité des Marchés Financiers (AMF) on 18 March 2021 (see pages 35 to 42 in particular). Sopra Steria does not undertake any obligation to update the forward-looking information contained in this document beyond what is required by current laws and regulations. The distribution of this document in certain countries may be subject to the laws and regulations in force. Persons physically present in countries where this document is released, published or distributed should enquire as to any applicable restrictions and should comply with those restrictions.
About Sopra Steria
Sopra Steria, a European leader in consulting, digital services and software development, helps its clients drive their digital transformation and obtain tangible and sustainable benefits. It provides end-to-end solutions to make large companies and organisations more competitive by combining in-depth knowledge of a wide range of business sectors and innovative technologies with a fully collaborative approach. Sopra Steria places people at the heart of everything it does and is committed to putting digital to work for its clients in order to build a positive future for all. With 46,000 employees in nearly 30 countries, the Group generated revenue of €4.3 billion in 2020.
The world is how we shape it.
Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) – ISIN: FR0000050809
