After long and distinguished careers servicing credit unions, David Palmer, Senior Vice President and General Manager, and Paul Chauvin, Senior Vice President and Controller for CGI Credit Union Soltions and Services (formerly C.U. Processing), have announced decisions to leave CGI to pursue other interests.
Both gentlemen have made great contributions to the success of CGI Credit Union Solutions and Services and have played a key role in the growth and development of hundreds of credit unions throughout their combined 50 years in the industry. Their entrepreneurial vision led C.U. Processing in their quest for cutting edge technology and has helped the company hold rankings in the top 10 of their industry for many years.
Gilles Godbout, Senior Vice President, CGI Credit Union Solutions and Services will assume the responsibilities of executive management at the company. Relocating from the Toronto area, he will make his home in metro-Detroit. Mr. Godbout will rely on the two former executives as consultants until the beginning of next year.
"I have the deepest appreciation and respect for these two fine men and will continue to look to them for guidance over the next few months," commented Mr. Godbout. "Their involvement with this company and the credit union industry as a whole is a tribute to the 'people helping people' maxim observed by their peers."
A Master's degree recipient in the study of Information Services, Mr. Godbout has been in the Management Information Systems field for 30 years - and with CGI for a total of eight years. Holding senior management positions with Laurentian Bank in Canada for twelve years, he has gained a wealth of financial institution experience. Mr. Godbout has led the Credit Union Solutions and Services group, which spans over the entire North American continent, for three years. His division's portfolio of services includes data processing services in both United States and Canada, as well as a suite of Internet based solutions (from the firm formerly known as CyberBranch). Mr. Godbout has been a key figure in acquiring these companies to enhance the services provided to the industry.
The CGI North American Credit Union Solutions and Services executive management team will report directly to Mr. Godbout. "I am anxious to begin working with the team in order to continue to provide the same or better services and solutions to our credit union clients." Mr. Godbout sees the future for his business unit as prosperous.
Mr. Palmer (former CEO of C.U. Processing) had this to say as a result of his decision, "For many years, C.U. Processing has been like home. I am happy to have made a contribution to the noble credit union industry. My decision to pursue other interests was not taken lightly. The past 20 years have been a challenging and rewarding experience that I will hold sacred for the rest of my life. I wish the company, its customers, and its employees the best of luck in the future."
As well, Mr. Chauvin had these parting words, "The past twenty-plus years have been wonderful. Working with such an excellent team has been both fruitful and rewarding to me personally. I will miss the staff and clients of CGI and I wish them the best for the future. I am looking forward to pursuing other endeavors as I know the company will be a success in its many years to come."
About CGI
Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount of more than 13,000 professionals. CGI's annualized revenue run-rate totals US$1.3 billion (CDN$2.0 billion). CGI's order backlog currently totals US$6 billion (CDN$9.3 billion). CGI provides end-to-end IT services and business solutions to more than 3,000 clients in the United States, Canada, the United Kingdom, France, India, Japan, and Australia from more than 60 offices in more than 20 countries. CGI's shares are listed on the NYSE (GIB) and the TSE (GIB.A). They are included in the TSE 300 Composite Index as well as the S&P/TSE Canadian Information Technology and Canadian MidCap Indices. Website: www.cgi.ca
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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 commissions, on the Registration Statement on Form F-4 filed with the SEC in connection with the acquisition of IMRglobal and with the Forms 10-K and 10-Q of IMRglobal filed with the SEC for the periods ended December 31, 2000 and March 31, 2001 respectively. All of the risk factors included in these filed documents are included here by reference. CGI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
- 30 -
For more information:
Investor relations
USA
Julie Creed
Vice-president, investor relations
(312) 201-8094, # 210
Canada
Ronald White
Director, investor relations
(514) 841-3230
Media relations
Eileen Murphy
Director, media relations
(514) 841-3430
