Teleperformance Restructuring Announcement

Investing.com — Shares of Teleperformance (EPA:TEPRF) fell on Thursday after the digital business services company announced changes to its company structure.

At 4:33 AM (0833 GMT), Teleperformance was trading 5.7% up at €99.40.

As part of the restructuring:
– Moulay Hafid Elalamy has been appointed Chairman of the Board of Directors.
– Daniel Julien has been reaffirmed as CEO of the Teleperformance Group.

Analysts at UBS Global Research noted concerns regarding the departure of Mr. Bhupender Singh, who was appointed co-CEO in Feb-24, recognized for his digital leadership as TEP’s Group Transformation Officer and CEO of digital BPO firm Intelenet.

Thomas Mackenbrock will assume the role of Deputy CEO starting October 1, 2024, succeeding Mr. Bhupender Singh, who has left the Group for new opportunities. UBS analysts suggest Mr. Julien’s replacement as CEO may also be the returning Thomas Mackenbrock.

The transition will be managed by an Ad Hoc Committee, which includes Elalamy, Julien, and Mackenbrock, to ensure a smooth transition and continuity in leadership.

Analysts concluded that today’s announcement could be viewed positively for governance, given the clarity regarding Daniel Julien’s long-term role.