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Concentrix Corporation (NASDAQ: CNXC) is a global leader in Customer Experience (CX) solutions and technology. The company specializes in designing, building, and managing end-to-end CX solutions that enhance customer interactions across various industries. Concentrix serves a diverse range of clients, including Fortune Global 500 companies, by offering innovative, technology-driven services that optimize customer lifecycles and business processes.
- Technology and Consumer Electronics - Provides CX solutions tailored to technology and electronics companies, enhancing customer engagement and support.
- Retail, Travel, and Ecommerce - Delivers CX services that improve customer experiences for retail, travel, and e-commerce businesses, focusing on seamless interactions across channels.
- Communications and Media - Offers CX solutions for communications and media companies, optimizing customer interactions and operational efficiency.
- Banking, Financial Services, and Insurance (BFSI) - Supports financial institutions with CX services that enhance customer trust and streamline processes.
- Healthcare - Provides CX solutions to healthcare organizations, focusing on improving patient engagement and operational workflows.
- Other - Includes CX services for industries such as automotive, energy, and the public sector, addressing unique business challenges.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andre Valentine Executive | EVP and CFO | None provided | Andre Valentine has been EVP and CFO since October 2018. He previously served as CFO of Convergys Corporation and held senior financial roles there. | |
Chris Caldwell Executive | President and CEO | None provided | Chris Caldwell has been the President and CEO of Concentrix since December 2020. He previously held leadership roles at TD SYNNEX and Concentrix, including EVP and President of Concentrix. | View Report → |
Cormac Twomey Executive | EVP, Customer Success | None provided | Cormac Twomey has been EVP, Customer Success since September 2023. He previously held leadership roles at Convergys and Stream Global Services. | |
Craig Gibson Executive | EVP, Global Sales and Account Management | None provided | Craig Gibson became EVP, Global Sales and Account Management in January 2024 after the Webhelp combination. He was previously Chief Growth Officer at Webhelp. | |
Jane Fogarty Executive | EVP, Legal | None provided | Jane Fogarty is EVP, Legal at Concentrix. The documents do not specify her start date or previous roles within CNXC. | |
Ann Vezina Board | Board Member | Chair of the Board at TD SYNNEX | Ann Vezina has been a Director since December 2020 and is Chair of the Nominating and Governance Committee. She has extensive experience in BPO and technology industries. | |
Jennifer Deason Board | Board Member | CEO of Home Partners of America; Director at MasterCraft Boat Holdings | Jennifer Deason has been a Director since December 2020. She has extensive experience in financial and operating roles, including as CFO of The Weather Channel and EVP at Bain Capital. | |
Kathryn Hayley Board | Board Member | CEO of Rosewood Advisory Services, LLC; Director at Old National Bancorp | Kathryn Hayley has been a Director since December 2020 and is Chair of the Compensation Committee. She has extensive experience in IT and business advisory services. | |
Kathryn Marinello Board | Chair of the Board | CEO of PODS Enterprises, LLC; Director at Volvo Group | Kathryn Marinello has been Chair of the Board since December 2020. She is also the CEO of PODS Enterprises and has extensive leadership experience, including as CEO of Hertz and board member of multiple companies. | |
LaVerne Council Board | Board Member | Director at ConMed Corporation; Director at Thomson Reuters Corporation | LaVerne Council has been a Director since December 2020. She has held leadership roles in IT and business transformation, including as CIO of Johnson & Johnson and the U.S. Department of Veterans Affairs. | |
Nicolas Gheysens Board | Board Member | Partner at Groupe Bruxelles Lambert (GBL); Director of Sienna Investment Managers; Board Observer at Parques Reunidos | Nicolas Gheysens joined the Board in September 2023 after the Webhelp combination. He is a Partner at GBL and has significant investment and board experience. | |
Olivier Duha Board | Vice Chair of the Board | None provided | Olivier Duha joined the Board as Vice Chair in September 2023 after the Webhelp combination. He is the co-founder and former CEO of Webhelp and has extensive experience in CX services. | |
Teh-Chien Chou Board | Board Member | President of Harbinger Venture Management Co., Ltd.; Director at Synnex Technology International Corp., Getac Technology Corp., and Intech Biopharma Ltd. | Teh-Chien Chou has been a Director since December 2020. He has extensive experience in finance and public company boards, particularly in technology-focused companies. |
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Regarding the shift to offshore delivery, you've mentioned that moving programs offshore has led to dual costs and some margin compression in the short term . Given that these transitions generally take 2-3 quarters to fully realize margin benefits , how confident are you that this strategy will drive meaningful margin improvement, and what steps are you taking to mitigate the near-term margin pressures?
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With the rapid adoption of generative AI and your own investments in AI technologies like IX Hello , there is a risk of cannibalizing traditional revenue streams, as you've already seen a 12% immediate reduction in revenue from automation in one client example . How do you plan to balance the potential revenue cannibalization with the need to drive innovation and maintain growth?
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In the technology and consumer electronics vertical, you've mentioned that despite gaining share, underlying volumes are muted due to consumers delaying tech refresh cycles. Given that environment, what strategies are you employing to drive growth in this sector, and how do you anticipate the timing of a potential rebound in volumes?
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You're experiencing lower volume forecasts from some clients due to lower underlying transaction volumes and automation, leading to a reduction in revenue outlook. How are you adjusting your sales strategy to counteract these headwinds, and are you seeing any signs of improvement in client demand?
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Considering that you're accelerating integration costs to bring forward synergies from the Webhelp combination, but this is impacting your free cash flow guidance for the year , how do you justify the trade-off between short-term cash flow pressure and the expected benefits, and what gives you confidence that these synergies will materialize as planned?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Webhelp Combination | 2023 | Deal value was approximately $4 billion (including net debt) with a cash component, promissory note, Concentrix stock issuance, and assumption of about $1.6 billion in Webhelp’s indebtedness. The acquisition strategically created a global leader in customer experience (CX) solutions with enhanced revenue, EBITDA, expected synergies, and notable board changes. |
ServiceSource International, Inc. | 2022 | The acquisition was valued at about $131 million in an all-cash transaction at $1.50 per share, funded through Concentrix’s cash and revolving credit facility. It expanded Concentrix’s B2B digital sales capabilities, adding a strong client portfolio with significant revenue and cost synergies expected to boost financial performance. |
PK | 2021 | The deal, valued at approximately $1.581 billion, expanded Concentrix’s digital IT services and CX design capabilities by acquiring a CX design engineering company with over 5,000 employees. The purchase price was allocated across customer relationships, technology, trade name, and non-compete agreements, with additional integration costs and positive pro forma financial impacts already evident. |
Recent press releases and 8-K filings for CNXC.
- Concentrix Corp entered into an Amendment and Restatement Agreement on April 11, 2025, amending its existing credit agreement with major lenders including Bank of America and JPMorgan Chase, to restructure its debt facilities.
- The new credit package comprises a New Term Loan Facility of up to $750 million, a 3-Year Delayed Draw Term Loan Facility of up to $250 million, a 5-Year Delayed Draw Term Loan Facility of up to $500 million, and a Revolving Credit Facility of $1.1 billion, with potential additional borrowing capacity of $500 million.
- Specific use of proceeds includes repaying a portion of outstanding term loans and funding general corporate purposes, while maturity dates range from September 30, 2028 for some facilities to April 11, 2030 for others, with the Continued Term Loan Facility due on December 27, 2026.
- Amendment to Corporate Documents: Filed on March 25, 2025, Concentrix amended its Certificate of Incorporation and Bylaws, updating key governance provisions.
- Revised Special Meeting Rules: The amendments enable stockholders with at least 25% ownership to call special meetings, subject to strict documentation and procedural requirements.
- Effective Upon Filing: The governance updates, including detailed rules on meeting call, postponement, and cancellation, are effective immediately upon filing.
- Revenue reached approximately $2.37 billion in Q1 2025 with improved margins, including a non‐GAAP operating income margin of 13.6%, demonstrating solid year-over-year performance.
- The company advanced its GenAI strategy by deploying its iX Hello suite at scale and benefiting from increased consolidation among top clients, underpinning its long-term growth plan.
- Management provided robust guidance for Q2 and full-year 2025, expecting continued revenue growth, margin expansion, and sequential improvements in cash flow.
- Revenue declined slightly by 1.3% to $2,372.2 million, while operating income increased to $168.9 million, reflecting improved operational performance.
- Non-GAAP operating income reached $321.5 million and adjusted EBITDA was $374.2 million, indicating strong underlying profitability.
- The company announced a quarterly dividend of $0.33275 per share and repurchased approximately 550,000 shares at an average cost of $47.84 per share, underscoring its commitment to returning capital to shareholders.