Unisys Shares Fall 17% on Appointment of New CEO

Dow Jones2024-12-07

By Sabela Ojea

Shares of Unisys dropped after the company said that its longtime Chief Executive Peter Altabef would be leaving the role, but would stay on as chair of the board.

The stock was down 17%, to $7.37 in midday trading Friday. Shares have, however, jumped 32% over the past 12 months.

The information-technology-services and consulting firm said that it named its current president and operating chief, Mike Thomson, as its new CEO.

Thomson is expected to succeed Altabef and join the board on April 1. He will also retain the title of president.

The incoming CEO joined Unisys in 2015 as the corporate controller and principal accounting officer, before being named finance chief in 2019 and president and operating chief in 2021.

Altabef has served as CEO since January 2015, and as chair of the board since 2018.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

December 06, 2024 12:59 ET (17:59 GMT)

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