Alight lifts after new CEO appointed
Benefit services provider Alight's ALIT.N shares up 4% to $2.06 on Mon after new CEO named
Chicago, Illinois-based firm says board appointed Rohit Verma as CEO and a member of its board, effective Jan 1, 2026
Dave Guilmette, who was named CEO in Aug 2024, to step down from the role and the board on Dec 31, 2025
Verma currently serves as president and CEO and a member of the board of directors of Crawford & Company, a leading global provider of claims management and outsourcing solutions to insurance companies and self-insured entities
Guilmette joined the board as a new independent director in May 2024 as part of cooperation agreement with Starboard Value LP
Activist investor Starboard is ALIT's top holder with about 9% of co's ~533.2 mln shares outstanding, per LSEG
KeyBanc analyst Scott Schoenhaus says in note that after two quarters of weaker results and guidance, investors "were likely looking for a fresh leadership change"
Schoenhaus rates ALIT stock 'overweight' with $6 PT
Earlier this month, ALIT posted rev and adj EPS miss for Q3, and lowered 2025 rev and EPS forecasts to $2.25-$2.28 bln/$0.54-$0.58 from prior outlook of $2.28-$2,33/$0.58-$0.64
Even with the advance on the session, shares down 70% YTD and hit new record intraday low
Avg rating among 7 analysts is "buy"; their median PT is $5.50, per LSEG data
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