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DALLAS - Resources Connection, Inc. (NASDAQ:RGP) announced Monday changes to its Board of Directors as part of a planned board refreshment and succession process. According to InvestingPro data, RGP operates with annual revenue of $11.67 billion and maintains a market capitalization of approximately $5.93 billion, positioning it as a significant player in the professional services sector.
The professional services firm has appointed Jeffrey H. Fox and Filip Gydé to its board, effective immediately. Both new directors will serve on the Board’s Compensation Committee.
Simultaneously, the company disclosed that Anthony Cherbak and Neil Dimick will retire from the board following the conclusion of their terms at RGP’s 2025 annual meeting of stockholders, expected in October.
Cherbak has served the company for over 20 years, including as Chief Executive Officer from 2013 to 2016 and as a board member since 2009. Dimick has also contributed to the company for more than two decades, serving as Chairman of the Audit Committee.
Fox brings over three decades of experience in public and private company leadership. He is the founding partner and CEO of Circumference Group, an investment firm that is a significant RGP shareholder. Fox currently serves on the boards of Westrock Coffee Company (NASDAQ:WEST) and several privately held companies.
Gydé is a global IT executive with over 30 years of experience. From 2019 to 2023, he served as President and CEO of Computer Task Group (CTG), where he led the company’s transformation from a staffing company to a digital solutions provider. InvestingPro analysis indicates mixed financial health for RGP, with analysts recently revising earnings expectations downward, though net income growth is expected this year. Get deeper insights with InvestingPro’s comprehensive research report, available along with 18 additional ProTips for this stock.
"We are pleased to welcome these two outstanding professionals to the Board as we continue our transformation as a global professional services firm," said A. Robert Pisano, Chairperson, according to the company’s press release statement.
RGP, based in Dallas, provides services across Finance, HR, Operations, and Technology with 2,300+ experts worldwide. The company currently faces some financial challenges, with a current ratio of 0.66 indicating that short-term obligations exceed liquid assets, a factor that potential investors should consider in their analysis.
In other recent news, Avis Budget Group announced the appointment of Daniel Cunha as its new Chief Financial Officer, effective July 1, 2025. The company is also making strategic financial moves by upsizing its senior notes offering to $600 million, initially planned at $500 million, with the proceeds intended for general corporate purposes, including debt management. In analyst updates, Goldman Sachs adjusted its outlook on Avis Budget, lowering the stock price target from $100 to $87 while maintaining a Neutral rating, citing mixed results from the company’s earnings report. Conversely, JPMorgan raised its price target for Avis Budget to $155, noting better-than-expected EBITDA performance despite revenue declines. Avis Budget’s first-quarter EBITDA outperformed expectations, attributed to favorable vehicle depreciation trends and accelerated fleet rotation initiatives. The company reiterated its goal to achieve normalized annual EBITDA of at least $1 billion by 2025, though it withheld explicit guidance due to macroeconomic uncertainties. These developments reflect Avis Budget Group’s ongoing efforts to navigate the financial landscape and enhance its strategic position in the global market.
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