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
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."
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:
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
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.
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For more information:
(312) 201-8094, # 210
Director, investor relations
Director, media relations