BUZZ-Alight lifts after new CEO appointed

Reuters11-25

BUZZ-Alight lifts after new CEO appointed

** Benefit services provider Alight's ALIT.N shares up 4% to $2.06 on Mon after new CEO named

** Chicago, Illinois-based firm says board appointed Rohit Verma as CEO and a member of its board, effective Jan 1, 2026

** Dave Guilmette, who was named CEO in Aug 2024, to step down from the role and the board on Dec 31, 2025

** Verma currently serves as president and CEO and a member of the board of directors of Crawford & Company, a leading global provider of claims management and outsourcing solutions to insurance companies and self-insured entities

** Guilmette joined the board as a new independent director in May 2024 as part of cooperation agreement with Starboard Value LP

** Activist investor Starboard is ALIT's top holder with about 9% of co's ~533.2 mln shares outstanding, per LSEG

** KeyBanc analyst Scott Schoenhaus says in note that after two quarters of weaker results and guidance, investors "were likely looking for a fresh leadership change"

** Schoenhaus rates ALIT stock 'overweight' with $6 PT

** Earlier this month, ALIT posted rev and adj EPS miss for Q3, and lowered 2025 rev and EPS forecasts to $2.25-$2.28 bln/$0.54-$0.58 from prior outlook of $2.28-$2,33/$0.58-$0.64

** Even with the advance on the session, shares down 70% YTD and hit new record intraday low

** Avg rating among 7 analysts is "buy"; their median PT is $5.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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