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CGI shakes up board after Logica takeover


Logica CEO Andy Green and his CFO will step down following a brief transition period

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Canada-based CGI appointed a whole new leadership team to lead its business following the acquisition of Logica in May.

The company said last week software and information technology services business Logica would exit the FTSE index on Friday 24 August, after its shareholders voted overwhelmingly in favour of accepting CGI's recommended cash offer of 105 pence per share.

For the UK reporting to CGI president and CEO Michael E Roach will be Tim Gregory, president for the UK anc currently CGI president for Europe and Australia.

Current Logica CEO Andy Green and Himanshu Rajah, Logica chief financial officer, will be quit the company but are likely to remain to aid a smooth transition.

Anthony Miller, managing partner at TechMarketView, said CGI's appointments suggest Logica no longer exists as a company or brand.

"Good move. Breaking Logica apart and combining it with the corresponding CGI business units is spot on. We like services companies with geographical P&L's and accountable managers running them,"Miller said.

However, Miller also said that this does not mean that the problems that plagued 'old' Logica will disappear.

He said: "Indeed we note that many of the Logica 'old guard' will still be running substantial parts of CGI's empire. My feeling is that CGI will parachute in a squadron of their own senior managers to sit 'beneath' the presidents and 'lend support'."

When the deal, which is worth an estimated £1.7 billion, was announced the analyst community unleashed some grim predictions, claiming that it highlighted the failures of Logica's management and that CGI will not create a new global business through integrating Logica's European operations.

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CGI shakes up board after Logica takeover
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