Posted 27 July, 2023
Accenture plc appointed Manish Sharma as new CEO
NYSE:ACN appointed new Chief Executive Officer Manish Sharma in a 8-K filed on 27 July, 2023.
On July 26, 2023, Accenture plc ("Accenture" or the "Company") appointed Manish Sharma, who serves as the Company's Chief Operating Officer, to the role of Chief Executive Officer - North America, effective September 1, 2023, succeeding Jimmy Etheredge.
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Overview of Accenture plc
Business/Consumer Services • Diversified Business Services
Accenture is a global professional services company that helps the world’s businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services, creating tangible value at speed and scale. The company combines technology and leadership in cloud, data and AI with industry experience, functional expertise and global delivery capability. Its services include Strategy & Consulting, Technology, Operations, Industry X, and Song. Accenture operates through the following geographical segments: North America, EMEA, and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.Market Cap
$241B
View Company Details
$241B
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 26, 2023, Accenture plc ("Accenture" or the "Company") appointed Manish Sharma, who serves as the Company's Chief Operating Officer, to the role of Chief Executive Officer - North America, effective September 1, 2023, succeeding Jimmy Etheredge. Mr. Etheredge is retiring and will step down from such position as of August 31, 2023 and become an advisor for a transition period. Accenture also appointed John Walsh, who serves as the Company's Chief Strategic Accounts & Global Sales Officer, to succeed Mr. Sharma as the Company's Chief Operating Officer, effective September 1, 2023. Mr. Sharma, 55, has been Accenture's Chief Operating Officer since March 2022 and a member of Accenture's Global Management Committee since March 2020. From March 2020 to March 2022, Mr. Sharma served as the Group Chief Executive - Operations. From September 2016 to March 2020, Mr. Sharma served as the Group Operating Officer for Operations. From January 2009 to September 2016, Mr. Sharma was the Senior Managing Director for Accenture Operations Global Delivery and Solution Development and Global Sales Lead for Accenture Operations Business Process Outsourcing (BPO). Previously, he led Accenture's BPO operations in the Asia Pacific region. Mr. Sharma has been with Accenture since March 1995, when he joined in its strategy practice. Mr. Walsh, 58, has been Accenture's Chief Strategic Accounts & Global Sales Officer since March 2020 and a member of Accenture's Global Management Committee since November 2019. Prior to assuming his current role, Mr. Walsh served as the Group Chief Executive of Accenture's Communications, Media & Technology (CMT) operating group from November 2019 to March 2020. Prior to November 2019, Mr. Walsh led CMT in North America. Mr. Walsh has been with Accenture since September 1986. Effective September 1, 2023, Mr. Etheredge will become an advisor for a transition period. Accenture and Mr. Etheredge have entered into an agreement (the "Retirement Agreement") pursuant to which Mr. Etheredge will continue to be employed by Accenture through June 30, 2024, subject to earlier termination upon advance notice by Mr. Etheredge or by the Company for cause (such termination date, the "Retirement Date"). Effective September 1, 2023, and through the Retirement Date, Mr. Etheredge will continue to be paid an annual base salary of $1,100,000. Mr. Etheredge will remain eligible to receive any earned bonus for fiscal 2023 under the Company's Global Annual Bonus Plan and will receive any earned award under the Company's Performance Equity Award Program for fiscal 2023 performance; however, Mr. Etheredge will not participate in the Global Annual Bonus Plan and will not be granted any other equity awards on or after September 1, 2023. Mr. Etheredge will also be eligible to receive a $1 million bonus upon satisfactory fulfillment of Mr. Etheredge's service and transition responsibilities under the Retirement Agreement. Mr. Etheredge will not be entitled to severance on the Retirement Date. Mr. Etheredge's previously granted equity awards will continue to vest in accordance with their terms, with outstanding performance-based Key Executive Performance Awards only vesting to the extent that the Company's performance objectives are met over the three-year performance period for each such award. The Retirement Agreement also includes a general release of claims and non-disparagement and cooperation covenants. A copy of Accenture's news release issued on July 27, 2023, regarding these changes and the changes described below is filed as Exhibit 99.1 to this Form 8-K.
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