Cap Gemini boss steps down
Geoff Unwin has announced that he is to stand down as chief executive at Cap Gemini Ernst & Young, Europe's largest IT services group.
He will be succeeded by Paul Hermelin, the group’s chief operating officer, who has been with the company since 1993. Hermelin will take over the role on 1 January.
The consulting company said in a statement that Hermelin was ‘the main initiator of the union which took place last year between Cap Gemini and Ernst & Young Consulting’.
The board of the services company said that Unwin, who has been with the company for 11 years, had decided not to work beyond 60 and to retire in 2002. He will remain a director of the company.
Unwin led the merger of Cap Gemini, Gemini Consulting and Ernst & Young Consulting last year. But since the deal, the market downturn has forced the company to carry out a round of job cuts.
Almost 3,500 jobs have been lost this year already, and the company is looking for another 750 voluntary redundancies by the end of 2001.