Convergys announced the decision of CEO Andrea Ayers to step down following a nearly 30-year career at the BPO company.
Andrea Ayers, who has been a member of the Convergys team since 1990, became the chief executive officer in October 2012.
She is leaving the technology outsourcing company at a time when it is facing tough market conditions. Convergys revenue fell 7 percent in Q3 2017.
Convergys generated Q3 revenue of $323 million (–15 percent) from telecommunications, $141.5 million (–8 percent) from technology, $54.6 million (+5 percent) from financial services and $169 million (+8 percent) from other business areas. It is not expecting a revival in Q4 2017.
Convergys will be looking for a new CEO and will engage HR firm for identifying the new person. Convergys has more than 120,000 employees.
Andrea Ayers will continue to lead Convergys in her current role as president and CEO, as well as a member of the Board of Directors, during the transition.
Convergys has strengthened its position as a global provider of customer experience voice and digital services, diversified its client base, increased its vertical capabilities and expanded its geographic reach into new markets, including Asia and Europe.
In addition to investing in the business, over this same period the company has returned more than $500 million in capital to shareholders through share repurchases and annual dividend increases.
“Over the last five years, we have made important progress executing against our strategic plan, and I believe that now is the right time to begin implementing a thoughtful transition to the next leader of Convergys,” said Andrea Ayers.
Convergys has reaffirmed its revenue guidance for the fourth quarter and full year fiscal 2017, as announced on November 7, 2017. The company is expecting 4 percent drop in Q4 revenue due to market conditions.
Convergys reported revenue of $688 million (–7 percent), operating income of $48 million, net income of $35 million and EBITDA of $83 million in Q3 2017.
The dip in Q3 revenue was due to volume fluctuations with its largest communications clients. Convergys in November said it’s focusing on managing costs while investing in digital and voice solutions to penetrate higher-growth industries.