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COLUMBUS, Ohio - Vertiv (NYSE: VRT), a company specializing in critical digital infrastructure and continuity solutions with a market capitalization of $41.63 billion, has announced the appointment of Mike Giresi as the new global Chief Information Officer (CIO), effective June 30, 2025. Giresi will be responsible for leading the company’s initiatives in AI adoption, cybersecurity, product security, and enhancing digital productivity and customer experiences. According to InvestingPro data, Vertiv has demonstrated strong financial health with a 20.45% revenue growth over the last twelve months.
CEO Giordano Albertazzi expressed confidence in Giresi’s ability to drive the company’s digital and IT strategy forward, emphasizing the importance of these areas in maintaining industry leadership and delivering value to customers. Giresi, who brings over three decades of IT experience to Vertiv, shared his enthusiasm for joining the team and his commitment to advancing the company’s digital strategy initiatives. The company’s stock, currently trading at $109.23, appears overvalued according to InvestingPro analysis, though it maintains strong operational metrics with a current ratio of 1.72.
Prior to joining Vertiv, Giresi held the position of chief digital officer at Molex and has served in chief leadership roles at several other companies, including Aramark and Royal Caribbean Cruises, Ltd. His extensive background is expected to contribute to Vertiv’s efforts in supporting hyperscale, enterprise, and edge customers with their AI and digitization needs.
Vertiv’s portfolio spans power, cooling, and IT infrastructure solutions and services from the cloud to the edge of the network. The company operates globally in over 130 countries and is headquartered in Westerville, Ohio.
This announcement is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. Readers are advised to consult Vertiv’s SEC filings for a more detailed discussion of potential risks. Vertiv does not undertake any obligation to update these forward-looking statements in the future.
In other recent news, Vertiv Holdings Co reported strong financial results for the first quarter of 2025, surpassing analyst expectations. The company achieved an adjusted diluted earnings per share (EPS) of $0.64, exceeding the forecasted $0.61, and reported revenues of $2.04 billion, beating the projected $1.94 billion. Vertiv also raised its full-year organic sales growth guidance to 18%. Despite the retirement announcement of CFO David Fallon, Vertiv maintained its financial outlook for 2025, emphasizing its focus on AI infrastructure and data center solutions.
In analyst updates, Evercore ISI increased its price target for Vertiv to $150 while maintaining an Outperform rating, citing the company’s strong position in the growing AI data center market. Evercore ISI highlighted Vertiv’s capabilities in liquid cooling and lifecycle management as key growth areas. Meanwhile, JPMorgan reiterated its Overweight rating with a $100 price target, noting Vertiv’s mixed financial performance but acknowledging the company’s resilience amid challenging market conditions. Both firms expressed confidence in Vertiv’s continued growth trajectory.
Additionally, Vertiv’s proactive measures to manage tariff impacts and enhance supply chain resilience were noted as part of its strategic initiatives. The company continues to focus on expanding its market position and addressing the complexities introduced by global trade dynamics. These developments reflect Vertiv’s ongoing efforts to strengthen its financial performance and market presence.
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