IT group Sopra Steria said that Cyril Malarge, who has served as the company's chief operating officer for the past eighteen months, will be promoted to the role of CEO on 01 March. He succeeds Vincent Paris, who wishes to leave the position for personal and family reasons, while continuing to support Sopra Steria's chairman as an advisor.
Malarge has previously been managing director of the group's French operations and has worked at the company for almost 20 years, becoming a member of the executive committee in 2015.
Alongside the news of the appointment, Sopra Steria announced that its current estimates point to full-year financial results above expectations. The organic revenue growth rate should be around 6.3-6.4 percent for 2021. This compares to the guidance of "at least 6 percent" published in July, when the company raised its annual objectives citing very buoyant market conditions.
The operating margin on business activity should also slightly come above target (8.1% compared to the expected "7.7%-8.0%"), while free cash flow is estimated to reach over EUR 250 million, well above the previous guidance range (EUR 150-200 million) and higher than the result reported for 2020 (EUR 204 million).
