CGI APPOINTS MICHAEL DENHAM TO LEAD BUSINESS PROCESS SERVICES BUSINESS UNIT
CGI Group Inc. (CGI) (TSX: GIB.SV.A; NYSE: GIB), is pleased to announce the
appointment of Mr. Michael Denham as president, Business Process Services (BPS)
“This appointment will enable us to provide dedicated leadership for this key aspect of our business as we move forward with our growth strategy and associated operational plans,” said Michael Roach, president and COO of CGI. “Michael brings CGI a tremendous amount of leadership and strategic development experience within global organizations. We look forward to working together to fulfill our goal of being one of the top five pure players in information technology and BPS worldwide.”
Michael Denham added: “I am thrilled to be joining CGI and leading such a strategic part of the business. CGI has consistently demonstrated its adherence to its strategic growth plan with the BPS line of business as a major driving force. I am looking forward to this opportunity.” Mr. Denham will be joining CGI on August 1, 2005 and will report to Michael Roach.
Michael Denham joins CGI from Bombardier where he spent four years as senior vice-president, Strategy reporting to the CEO. He was responsible for corporate strategy, mergers and acquisitions, global partnerships and information technology as corporate CIO. Prior to this position, Mr. Denham was a partner with McKinsey and Company, where he held key leadership roles working extensively in the United States and Europe.
CGI has two lines of business: information technology (IT) and business process services (BPS). In fiscal 2004, BPS represented 15.7% of CGI’s total revenue. BPS encompasses the outsourced management and processing of a company’s business functions.
Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in Canada, the US, Europe and India. CGI’s annualized revenue run-rate is currently CDN$3.8 billion (US$3.0 billion) and at March 31, 2005, CGI’s order backlog was CDN$12.9 billion (US$10 billion). CGI’s shares are listed on the TSX (GIB.SV.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements represent CGI Group Inc.’s intentions, plans, expectations, and beliefs, and are subject to risks, uncertainties, and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements.
These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management’s Discussion and Analysis (MD&A) in CGI Group Inc.’s Annual Report or Form 40-F filed with the SEC, the Company’s Annual Information Form filed with the Canadian securities authorities, as well as assumptions regarding the foregoing. The words “believe”, “estimate”, “expect”, “intend”, “anticipate”, “foresee”, “plan”, and similar expressions and variations thereof, identify certain of such forward-looking statements, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements. .
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