DXC chief Mike Lawrie resigns

  Mike Lawrie (DXC)

Mike Lawrie (DXC)

Credit: DXC Technology

DXC Technology CEO, President and Chairman Mike Lawrie withdraws from the company December 31 with Mike Salvino named as his successor .

Lawrie has held the top role since the company's founding as DXC Technology in 2017, and according to a company statement, he has been discussing his success and planned retirement with the DXC board for about a year.

Lawrie was previously the Managing Director of CSC and prior to that he worked for UK based IT solutions provider Misys. He was also a partner in the private equity firm ValueAct Capital in San Francisco and was also CEO of Siebel Systems. He also spent 27 years at IBM, where he held various leadership roles.

"Mike Salvino is the perfect choice to lead DXC into its next phase of growth," Lawrie said. "He is a proven leader with a strong track record of successful business operations, forging reliable client relationships and creating an environment for growing and developing talent.

" It has been my privilege to serve as CEO when we relocated DXC to focus on digital transformation and how we best serve clients. ”

Salvino who joined the DXC board in May comes with 30 years of experience and most recently served as CEO of the private equity firm, Carrick Capital Partners.

He also spent seven years as CEO of Accenture Operations, and was a member of Accenture's Global Management Committee.

“DXC has an enviable customer portfolio, deep industry partnerships and a talented global team. I look forward to harnessing these strengths and my proven operational playbook to accelerate the execution of our growth strategy, "Salvino said at the appointment.

Recently, the Australian arm felt two years ago after posting a loss of 101 , $ 8 million for the fiscal year ended March 31, 2018.

The technology giant attributed the drop from the previous $ 377,000 surplus to the costs of the Computer Science merger Corp (CSC) and Hewlett Packard Enterprise (HPE) Business Services Business, completed in April 2017.

The merger saw DXC pay $ 68.1 million in goodwill and restructuring costs of $ 56.2 million, adding up to $ 124 million in non-recurring expenses and provisions.

According to DXC, the "significant restructuring activity" was carried out o "simplify the current business model o create synergies across all service lines ".

Profit before tax would have reached $ 11.8 million, still a 60 percent decline from the previous $ 29 million. The company paid $ 10.7 million in income tax during the accounting period. The company also cited share transfers between XUK Holdco, ES The Hague and Continuum Europe which hit the profit for the financial year.

Globally, revenue was $ 35.8 billion ($ 24.55 billion), down 3.3 percent from a year earlier.

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