Shiv Iyer
ASGNAbout Shiv Iyer
Sadasivam (Shiv) Iyer, age 52, became President of ASGN effective March 1, 2025 after a 24-year consulting career, most recently as Accenture’s Americas Consulting and Industry X Lead Executive; earlier roles included A.T. Kearney (progressed to principal) and Wipro Infotech in India. He holds a bachelor’s in engineering and a master’s in management sciences from the University of Mumbai, and an MBA from Indiana University’s Kelley School of Business . Company performance context prior to his arrival: in 2024, revenue growth was -7.9% and Adjusted EBITDA growth was -12.1% for bonus purposes, and ASGN’s cumulative TSR index value was 117.43 versus 125.59 for the peer group . He was appointed during a leadership transition with strong internal and partner-driven momentum in cloud, cybersecurity, and enterprise platforms .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Accenture | Americas Consulting and Industry X Lead Executive; previously Managing Director (Products), Market Unit Lead U.S. Midwest | Not disclosed (joined 2010; left 2025) | Scaled advisory capabilities across U.S., Canada, LATAM; maximized M&A value; investments in AI and industry capabilities |
| A.T. Kearney | Various roles, progressed to Principal | Not disclosed | Advised global corporations on digital transformation, GTM strategies, large-scale model and cost transformations |
| Wipro Infotech (India) | Early career | Not disclosed | Technology and operations foundation; early industry experience |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Consumer Brand Association | Regular contributor convening discussions with global CEOs | Not disclosed | Industry influence and executive networking |
| Pratham USA (Chicago board) | Board member | Not disclosed | Supports education models for underprivileged children; civic engagement |
Fixed Compensation
Not disclosed as of the 2025 proxy and related 8-Ks; ASGN’s 2025 proxy identifies Iyer’s appointment and background but does not list base salary or target bonus for 2025 given the proxy covers 2024 NEOs . The Jan 30, 2025 8‑K announced his appointment but did not include compensatory arrangements .
Performance Compensation
ASGN’s program design (applies to executives and 2024 NEOs; used to assess pay-for-performance alignment):
- Annual cash incentive bonus metrics and weighting: 80% Performance-Target Adjusted EBITDA growth; 20% Revenue growth; rigorous targets with max at 200% payout .
- Equity incentives: RSUs vest one-third annually over three years; PSUs measured on three-year average NOPAT growth with an rTSR modifier vs a broad comparator group; grants sized by role, intended for alignment and retention .
2024 Annual Cash Incentive Framework and Outcomes (Company-Level)
| Metric | Threshold Growth (Payout) | Target Growth (Payout) | Max Growth (Payout) | Actual 2024 | Payout Achieved |
|---|---|---|---|---|---|
| Adjusted EBITDA growth | -13.5% (40%) | -3.5% (100%) | +4.0% (200%) | -12.1% | 45.7% |
| Revenue growth | -11.5% (40%) | -1.5% (100%) | +4.5% (200%) | -7.9% | 61.7% |
PSU Structure and Recent Realization
| PSU Metric Component | Design | Targets / Schedule | Actuals | Payout / Modifier |
|---|---|---|---|---|
| NOPAT growth (3-year average) | Core PSU metric | ≥12% = 200%; 2% = 100%; -13.5% = 50%; < -13.5% = 0% | 2022: 188%; 2023: 0%; 2024: 0% | Average NOPAT payout 62.7%; rTSR at 21st percentile → -25% modifier; final ~37.7% |
| rTSR modifier | Relative to broad comparator group | +25% above 75th; no change 40th–60th; -25% at/below 25th | 21st percentile | -25% shares vs NOPAT outcome |
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Beneficial ownership | As of March 31, 2025, Iyer did not beneficially own any ASGN shares; he joined March 1, 2025 . |
| Ownership as % of outstanding | 0% as of March 31, 2025 (43,917,659 shares outstanding) . |
| Stock ownership guidelines | Directors: 5x $85k cash retainer; CEO: 5x base salary; other NEOs: 3x base salary; must retain net shares until guideline met within five years; time-based RSUs count toward beneficial ownership; PSUs/options do not . |
| Compliance status | “As of March 1, 2025, all directors and officers are in compliance” (noting Iyer had 0 shares on March 31, 2025; time-vesting RSUs count toward compliance) . |
| Hedging / pledging | Prohibited for directors and executive officers, including margin pledges and hedging instruments (collars, swaps, forwards) . |
Employment Terms
| Term | Details |
|---|---|
| Appointment | President appointment effective March 1, 2025 via planned succession (press release) . |
| Offer/Agreement | No specific Iyer employment agreement or inducement grant terms disclosed in 2025 filings reviewed . |
| CIC / Severance (Company programs) | CIC Severance Plan for certain executive officers (Hanson: 300% salary+target bonus; others 275%/250%/200%/75%; equity accelerated for most except Cunningham) with pro-rata bonus and COBRA cash; double-trigger within 18 months of CIC; excise tax cutback . Senior Executive PSU Award Agreements allow pro-rata vesting upon certain terminations (Company-elected retirement or no-cause) . |
| Indemnification | Broad indemnification and advancement rights for officers under bylaws; rights are contractual and fully vested upon service commencement . |
Performance & Track Record
- Early execution at ASGN highlighted in Q2 2025: leading cloud migrations (AWS/GovCloud), cybersecurity engagements for DHS/CISA, AI search integration with Elastic for CISA, and enterprise platform implementations (ServiceNow GenAI in HRSD; Workday end-to-end programs) .
- Strategic direction reinforced by proxy: focus on Execute, Scale, Acquire; consulting revenues reached 58% of consolidated revenues in 2024; alignment of compensation to growth and returns .
Say-on-Pay & Governance Signals
- 2024 Say-on-Pay approval: 99.2% FOR, indicating strong shareholder support for the compensation program design .
- Incentive Award Plan amendment extended plan term to April 9, 2035; authorized share pool and remaining availability disclosed, suggesting capacity for future executive equity awards (including potential grants to new executives) .
Investment Implications
- Alignment and retention: Iyer’s initial beneficial ownership was zero as of March 31, 2025, but ASGN’s strict ownership guidelines, RSU counting policy, and hedging/pledging prohibitions mitigate misalignment and reduce near-term selling pressure; watch for 2025/2026 proxy to quantify his base, target bonus, and equity grants .
- Pay-for-performance framework: Company’s incentive design is rigorous (Adjusted EBITDA, revenue; PSUs on NOPAT with rTSR modifier), historically producing variable payouts tied to outcomes—expect similar structures to govern Iyer’s incentives, driving execution risk toward measurable growth and TSR performance .
- Change-of-control economics: CIC terms are disclosed for certain officers only; absence of Iyer-specific disclosure is a data gap—monitor future 8‑Ks/DEF 14A for his severance multiple and equity acceleration terms .
- Near-term operating levers: Iyer’s expertise in cloud, cybersecurity, and enterprise platforms supports ASGN’s pivot to higher-margin consulting; execution in federal/commercial alliances (AWS, Elastic) is a positive indicator for value creation if sustained with bookings and margins, but investors should track backlog, utilization, and consulting mix in quarterly disclosures .