CGI Appoints New CEO

Canadian IT consulting firm CGI appointed a new CEO after the company’s share price tumbled about 40% in a year, largely due to concerns about disruption from AI upstarts such as Anthropic. The appointment comes as CGI, a Canadian IT consulting firm, has faced sustained pressure from investors worried that newer artificial intelligence competitors could erode demand for traditional consulting services.

@business reported that the roughly 40 percent decline in the company’s share price over the past year was driven primarily by those concerns.

CGI has not disclosed the name of the new CEO or the effective date of the appointment. The move marks a leadership change at a time when the firm’s valuation has been hit hard by market sentiment around rapid advances in AI technology. Shares of the company had fallen steadily as clients and investors increasingly weighed the potential for AI tools to automate or replace segments of the IT consulting work that has long formed CGI’s core business.

The concerns centered on nimble AI upstarts such as Anthropic, whose models have drawn attention for their potential to reshape how companies approach technology implementation and digital transformation projects. The share price tumble of about 40% unfolded over the course of a single year, leaving the firm with a lower market valuation heading into the leadership transition.

CGI itself has not commented publicly on the precise triggers for the decline or on how the new CEO is expected to address the competitive challenges posed by AI-native companies.

As one of Canada’s largest technology services providers, CGI has historically focused on systems integration, outsourcing and digital consulting for government and corporate clients. The appointment of a new CEO signals an attempt to reset strategy at a moment when traditional IT service models are under scrutiny from investors betting on faster disruption from generative AI tools.

@business reported the leadership change alongside the details of the share price performance and the role of AI concerns in driving the decline.

No further information was provided on the identity of the incoming chief executive or on any specific initiatives the new leader is expected to pursue.