CGI Group (GIB) Names New CEO

September 8, 2016 8:40 AM EDT

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CGI (NYSE: GIB) announce the appointment of George D. Schindler, currently President and Chief Operating Officer, to the role of President and Chief Executive Officer and member of its Board of Directors, effective October 1st, 2016. He will succeed Michael E. Roach who will retire from the Company on September 30, 2016, while remaining on the CGI Board of Directors.

"On behalf of the Board and CGI members worldwide, I want to congratulate George on becoming the third CEO in CGI's 40-year history," said Serge Godin, Founder and Executive Chairman of CGI. "With 30 years of experience in consulting services, George has successfully managed large operations in IT and management consulting. George was identified by the Board more than five years ago as a strong candidate for the CEO role. Since then, he has progressively assumed more responsibility, from our US business to North American operations and, for the last year and a half, all global operations have reported to him," added Mr. Godin.

"I want to thank Serge and the entire Board of Directors for their confidence," commented George Schindler. "I have great faith in the CGI model, its effectiveness in aligning global teams and in our ability to capitalize on profitable growth opportunities. There has never been a more extraordinary time to help our clients transform the way they operate in taking advantage of the digital era. I look forward to leading such a talented and committed team into fiscal 2017."

"CGI has had an exceptional CEO over the last decade," added Serge Godin. "Over this period, we grew from $4 billion to over $10 billion in annual revenue, while our share price increased more than 625%. By every measure Michael Roach has successfully delivered significant value to all stakeholders, demonstrating strategic vision and a deep knowledge of operations. Mike has institutionalized a culture of operational excellence across CGI. George will build on that success."

"The time has come for me to focus on my family and on other personal matters," said Michael E. Roach. "I want to offer my sincere gratitude to Serge and the Board for the opportunity to have led CGI as CEO over these last 10 years. I am confident that George is the right leader to continue CGI's exemplary track record of delivering on our promises to all stakeholders."



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