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MarketScreener Homepage  >  Equities  >  Nyse  >  DXC Technology Company    DXC

DXC TECHNOLOGY COMPANY

(DXC)
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DXC Hires GE Executive as CIO

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02/06/2020 | 05:35pm EDT

By Agam Shah

DXC Technology Co. has appointed Chris Drumgoole, chief information officer of General Electric Co. and a veteran of the company's cloud efforts, as its new technology chief.

Mr. Drumgoole, who starts his new role this month, will report to Mike Salvino, who was appointed DXC's chief executive in September. The previous CIO, Erich Windmuller, retired in December.

Tysons, Va.-based DXC, which implements and manages information-technology systems for businesses, began operations in 2017. It was formed through the merger of Computer Sciences Corp. and a spinoff of the bulk of Hewlett Packard Enterprise Co.'s technology-services operations.

One of Mr. Drumgoole's roles at DXC will be to improve and streamline the internal technology infrastructure.

Mr. Drumgoole joined GE in 2014 and held multiple roles there, including chief technology officer. He became the company's CIO in 2018.

His tenure at GE was marked in part by a companywide strategy to deploy applications to the cloud. He also led an effort to cut costs by taking employees off the corporate network and switching to remote access to work applications.

"CIOs like Drumgoole can help ensure that the company's IT processes and best practices are well-aligned with its professional services offerings, " said Charles King, an analyst at research firm Pund-IT Inc.

DXC in recent years has acquired companies such as Luxoft Holding Inc., which offers technology products and services for sectors such as health care and automotive.

Mr. Drumgoole's job will include integrating technologies from the acquisitions into DXC's systems, said Rebecca Segal, group vice president for world-wide services at research and consulting form International Data Corp.

"If he's going to build a flexible architecture which is cloud based and automated, it'll be easier to implement other companies' technologies," Ms. Segal said.

DXC, which has about 138,000 employees, has partnered with companies including SAP SE, Amazon.com Inc. and Alphabet Inc.'s Google Cloud for technology services it offers to clients.

Write to Agam Shah at agam.shah@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 2.07% 1207 Delayed Quote.-9.88%
DXC TECHNOLOGY COMPANY 13.59% 15.8 Delayed Quote.-57.97%
GENERAL ELECTRIC COMPANY 3.84% 7.3 Delayed Quote.-34.59%
HEWLETT PACKARD ENTERPRISE COMPANY 5.90% 10.23 Delayed Quote.-35.50%
SAP SE 1.30% 106.6 Delayed Quote.-12.73%
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Financials (USD)
Sales 2020 19 661 M
EBIT 2020 2 170 M
Net income 2020 -1 796 M
Debt 2020 5 043 M
Yield 2020 5,22%
P/E ratio 2020 -2,28x
P/E ratio 2021 6,13x
EV / Sales2020 0,46x
EV / Sales2021 0,55x
Capitalization 4 009 M
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 31,14  $
Last Close Price 15,80  $
Spread / Highest target 185%
Spread / Average Target 97,1%
Spread / Lowest Target -5,06%
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Managers
NameTitle
Michael J. Salvino President, Chief Executive Officer & Director
Ian C. Read Chairman
Kristin Slattery Vice President-Corporate Operations
Paul N. Saleh Chief Financial Officer & Executive Vice President
Dan Hushon Chief Technology Officer & Senior Vice President
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