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, with Mr. Daniel Julien was reaffirmed as CEO of the Teleperformance Group.
“However the departure of Mr Singh may worry investors given he was appointed co-CEO in Feb-24 and the company had highlighted his digital leadership due to his previous roles as TEP's Group Transformation Officer and CEO of digital BPO firm Intelenet,” said analysts at UBS Global Research.
Mr. 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.
“Mr Julien's replacement as CEO is also now likely to be the returning Thomas Mackenbrock, rather than the departing Bhupender Singh,” said analysts UBS Global Research.
This succession will be managed by an Ad Hoc Committee, which includes Elalamy, Julien, and Mackenbrock, to ensure a smooth transition and continuity in leadership.
“Overall, we believe today's announcement is likely to be taken as a net positive for governance, given the greater clarity over Daniel Julien's long-term role,” said analysts at UBS.