Amdocs Ltd. (NYSE: DOX) CEO Eli Gelman announced last night that he will be stepping down on September 30. He will be replaced by Shuky Sheffer, Amdocs SVP and president Global Business Group.
Gelman said, "After eight years in the role of CEO of Amdocs, I feel confident that now is the right moment to hand over the reins to my long-time colleague and friend, Shuky. I have worked closely with Shuky over many years, including in my former position as chairman of Retalix where he was then CEO. I am proud to have watched Shuky grow as an executive and business leader and am truly convinced he is uniquely qualified to take Amdocs forward at this time."
Sheffer said, "I have spent a majority of my career with Amdocs and I feel extremely proud and excited to be appointed as the fifth CEO of this special company. It has been my pleasure to work closely with Eli over the course of many years, and I'm fortunate to have the support of Amdocs' deep leadership team, strongly committed workforce and unparalleled global infrastructure. I look forward to ensuring a smooth transition in my new role as CEO and working with all stakeholders to sustain Amdocs' continued success in the future."
The announcement came as the Israeli IT business systems company reported its third US fiscal quarter results. Revenue was a record $1.0 billion, up 1% or $9.9 million sequentially from the second fiscal quarter of 2018 and up 3.7% from last year's third fiscal quarter.
Amdocs GAAP net profit for the third quarter was $91.5 million ($0.64 per share), compared with GAAP net profit of of $119.3 million ($0.81 per share) in the corresponding quarter of 2017. Non-GAAP net profit was $147.5 million ($1.03 per share) compared with $150.4 million ($1.02 per share, in the third fiscal quarter of 2017.
Amdocs sees revenue growth of 2.2%-3.2% year-over-year, compared with previous guidance of 2.3%-4.3% year-over-year. The company also expects non-GAAP diluted earnings per share growth of 5-7% year-over-year compared with previous guidance of 4%-8%.
Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2018
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