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Accenture (ACN) Promotes Julie Sweet to Global CEO Position

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Accenture plc ACN announced promotion of its North American CEO Julie Sweet to the global CEO position, last week. She will also join the company’s board upon assuming the new role.

Sweet, 51, has been with Accenture since 2010, before which she was a partner with law firm Cravath, Swaine & Moore LLP for 10 years.

David Rowland, who was serving as Accenture’s interim CEO after Pierre Naterme’s resignation, has been appointed as executive chairman. Rowland, 58, has worked with Accenture for 36 years. Before becoming interim CEO, he served as the company’s chief financial officer.

Marge Magner, currently non-executive chair of Accenture’s board, will go back to her role as lead independent director. All these changes are effective Sep 1, 2019.

Accenture PLC EPS Diluted (TTM)

 

Accenture PLC EPS Diluted (TTM)

Accenture PLC eps-diluted-ttm | Accenture PLC Quote

 

Adding to the Growing List of Women CEOs

Sweet’s promotion is another addition to the growing list of women CEOs at Fortune Global 500 companies. Per the latest Fortune list, the figure was 33 as of Jun 1, 2019.

This is a considerable increase from the 2018 figure of 24, which appears to be due to an increasing shift of corporate mentality in favor of giving women more opportunities in top management positions.

Some big names such as General Motors GM, International Business Machines IBM and Oracle ORCL currently have women in CEO positions.

Notably, Accenture promoted KC McClure to the position of Chief Financial Officer in January, setting a rare example of having women in both CEO and CFO positions.

Accenture currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The company’s shares have gained 39.1% year to date, outperforming the 33% rally of the industry it belongs to.

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