Powell speech takes center stage in Tuesday’s economic events
Conduent Inc. (NASDAQ:CNDT), currently trading at $2.67 with a market capitalization of $423 million, reported the termination of Michael McDaniel, Executive Vice President of Commercial Solutions, effective Tuesday. According to a statement released in a SEC filing, McDaniel’s departure is part of a restructuring that includes the elimination of a management layer and a reorganization of roles and responsibilities within the company.
Conduent stated that McDaniel’s employment was terminated without cause. The company confirmed that McDaniel will be eligible to receive compensation and benefits in line with its U.S. Executive Severance Policy.
Conduent, based in Florham Park, New Jersey, provides business services and is listed on the NASDAQ Global Select Market. The information in this article is based on a press release statement included in the company’s SEC filing.
In other recent news, Conduent Inc reported its Q2 2025 earnings, with an earnings per share (EPS) of -$0.13, which exceeded the forecasted EPS of -$0.15. However, the company fell short of its revenue expectations, reporting $754 million compared to the anticipated $777 million. In a separate development, Conduent has secured a contract with the Richmond Metropolitan Transportation Authority to implement a Pay-by-Plate toll collection system as part of the transition to all-electronic tolling. This system will allow motorists to pay tolls using digital wallets, credit cards, and debit cards, with Conduent managing the entire tolling process.
Additionally, Moody’s Ratings has downgraded Conduent Incorporated’s corporate family rating to B2 from B1, citing concerns over high financial leverage and reduced liquidity. The ratings agency also downgraded Conduent’s probability of default rating and liquidity rating, maintaining a negative outlook. In related personnel news, Robert Houser, formerly Group CFO of the Public Sector and Advisor at Conduent, has been appointed as the new Chief Financial Officer of Repay Holdings Corporation. These developments highlight the ongoing changes and challenges within Conduent Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.