In a bid to enhance its business operations, IT services and consulting firm Accenture has undertaken significant changes to its top management. The company has recently released its financial results for the third quarter of fiscal 2023, which ended on May 31, 2023.
Accenture’s third-quarter revenues reached an impressive $16.6 billion, reflecting a notable 3 percent increase in U.S. dollars. Building on this positive momentum, the company projects its revenues for the fourth quarter of fiscal 2023 to be within the range of $15.75 billion to $16.35 billion, translating to a projected increase of 2 percent to 6 percent in local currency.
One of the key leadership changes involves Manish Sharma, who currently serves as Accenture’s Chief Operating Officer, taking on the role of Chief Executive Officer for the North America region. Sharma’s new responsibility will involve overseeing Accenture’s largest geographic market, which generated a substantial $29 billion in revenues during FY22. His appointment follows the retirement of Jimmy Etheredge, who enjoyed an illustrious career spanning nearly 38 years with Accenture.
John Walsh, the Chief Strategic Accounts & Global Sales Officer, is set to become the Chief Operating Officer of Accenture. In his new position, Walsh will be tasked with leading the company’s business operations and executing its business strategy. Additionally, he will chair the Capital Committee & Corporate Investment Committee, playing a pivotal role in Accenture’s growth strategy, infrastructure protection, and ensuring operational excellence, including the ongoing digital transformation efforts.
Furthermore, Steve Ferneyhough, who currently leads sales for Europe, will take up the role of Chief Strategic Accounts & Global Sales Officer. In this capacity, Ferneyhough will spearhead the establishment and growth of Accenture’s global sales organization, meeting the diverse needs of clients worldwide.
Accenture has also announced two key appointments in its technology leadership team. Paul Daugherty, the current Group Chief Executive – Technology & Chief Technology Officer, will assume the position of Chief Technology & Innovation Officer. This newly created role will focus on defining and executing the company’s technology strategy and fostering innovation capabilities to cater to the evolving needs of clients.
Karthik Narain, who leads Accenture Cloud First, Data & AI, will now serve as the Group Chief Executive – Technology. In this critical role, Narain will be in charge of leading Accenture’s Technology service, encompassing Cloud First, Data & AI, enterprise and industry platforms, Security, and ecosystem and advanced technology centers.
As part of their new roles, Sharma, Walsh, Ferneyhough, Daugherty, and Narain will all be members of Accenture’s Global Management Committee, contributing their expertise and insights to shape the company’s future direction.
With these strategic leadership changes and a strong financial performance in the third quarter, Accenture seems poised for continued growth and success in the coming months.