Alight promotes two executives to leadership roles

CHICAGO - Alight, Inc. (NYSE:ALIT), a prominent provider of cloud-based human capital and services with a market capitalization of $3.65 billion, today announced the promotion of two executives to key leadership positions effective January 1, 2025. According to InvestingPro data, the company currently trades below its Fair Value, suggesting potential upside opportunity. Allison Bassiouni has been appointed as Chief Delivery Officer, while Deepika Duggirala will take over as Chief Technology Officer.

Ms. Bassiouni, with over 25 years of experience, will be responsible for enhancing the company's service delivery capabilities and ensuring client success. Her expertise in benefits delivery and customer experience has been pivotal in improving client satisfaction and operational excellence within Alight and its predecessors.

Ms. Duggirala, also a veteran with more than 25 years in the technology sector, is set to lead Alight's technology organization. She will focus on accelerating innovation, especially in the fields of artificial intelligence and automation. Her previous experience includes significant roles at TransUnion (NYSE:TRU) and SAP Labs, as well as nearly a decade at Motorola Inc (NYSE:MSI).

Dave Guilmette, CEO of Alight, expressed confidence in both leaders, citing their proven leadership and expertise as vital for the company's growth and client value creation. This optimism aligns with recent analyst activity, as InvestingPro reports three analysts have revised their earnings estimates upward for the upcoming period. He also acknowledged the contributions of Greg Goff, the outgoing leader of the delivery and technology functions, who will leave the company on January 31, 2025.

Alight has been recognized for its comprehensive human capital technology and services, supporting over 35 million people and their dependents globally. The company's Alight Worklife® platform offers personalized benefits management and data-driven insights, aiming to enhance employee wellbeing, engagement, and productivity.

This leadership transition is part of Alight's ongoing efforts to build upon its multi-year transformation, positioning the company for future growth. While current financials show a revenue of $3.36 billion in the last twelve months, analysts anticipate the company will return to profitability this year. Get deeper insights into Alight's transformation and access comprehensive analysis through the Pro Research Report, available exclusively on InvestingPro. The information in this article is based on a press release statement from Alight, Inc.

In other recent news, Alight Solutions reported a slight revenue increase in Q3 2024, bolstered by improved BPaaS growth and project revenue. The company also announced a new quarterly dividend of $0.04 per share. Analyst firms Citi and Needham maintained their Buy ratings on Alight shares, with Needham raising its price target from $9 to $11.

Alight's recent divestiture and recapitalization of Sparta, along with the completion of its cloud migration, were highlighted as positive developments. The company's shift towards recurring revenue, which now constitutes 91% of total revenue, was another notable development.

In addition to these developments, Cannae Holdings (NYSE:CNNE) sold 12 million shares of Alight's common stock to meet its liquidity requirements. Despite this sale, Cannae's Chairman, William P. Foley, II, expressed continued confidence in Alight's long-term financial prospects and business strategy.

These are among the recent developments that have shaped Alight's current business trajectory.

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