Craig Gibson
About Craig Gibson
Craig Gibson, 52, is Executive Vice President, Global Sales and Account Management at Concentrix (CNXC), appointed January 4, 2024 after joining via the Webhelp combination; prior roles include Chief Growth Officer (2020–2024), UK Chief Commercial Officer (2016–2020), and CEO of Webhelp South Africa (2013–2016) . During fiscal 2024, CNXC delivered revenue of $9,618.9 million (+35.2% YoY) and adjusted EBITDA of $1,554.9 million (+31.6% YoY), completed Webhelp integration ahead of plan, and launched GenAI product iXHello—key operating context for Gibson’s commercial remit . The company’s pay-versus-performance TSR index for FY2024 was 42.81 on an initial $100 basis, illustrating pressure on shareholder returns despite operational progress .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Concentrix (CNXC) | EVP, Global Sales & Account Management | Jan 2024–present | Leads global sales and account management; succeeded former EVP as part of succession plan . |
| Webhelp | Chief Growth Officer | Aug 2020–Jan 2024 | Growth leadership through and post CNXC-Webhelp combination . |
| Webhelp UK | Chief Commercial Officer, UK | Oct 2016–Aug 2020 | Commercial leadership for UK market . |
| Webhelp South Africa | Chief Executive Officer | Oct 2013–Oct 2016 | Country leadership and operations scaling . |
External Roles
- No public company directorships or external roles disclosed in CNXC filings for Gibson. (Skip—no disclosure)
Fixed Compensation
| Item | FY2024 |
|---|---|
| Base Salary (USD) | $484,542 |
| Target Bonus (% of salary) | 100% |
| Actual Bonus Paid (SMIP award) | $438,511 (90.5% of target; payout reduced from earned 93.0% to 90.5% for reinvestment) |
| Perquisites | Car allowance £10,000 ($12,736) |
Performance Compensation
FY2024 Short-Term Incentive (SMIP) Structure and Outcomes
| Metric | Weight | Threshold | Target | Stretch | Actual | Actual vs Target | Payout basis |
|---|---|---|---|---|---|---|---|
| Non-GAAP Operating Income | 65% | $1,124m | $1,405m | $1,686m | $1,318m | 84.5% | 54.9% of total award component |
| Revenue (constant currency adjusted) | 35% | $9,197m | $9,580m | $9,772m | $9,614m | 108.9% | 38.1% of total award component |
| Total earned (before committee reduction) | 93.0%; Committee approved payout reduction to 90.5% |
Result for Gibson: $438,511 actual bonus (90.5% of $484,542 target) .
FY2024 PRSUs (3-year performance period ending FY2026)
| Item | Value |
|---|---|
| Target Shares | 5,096 |
| Threshold / Maximum Share Opportunity | 2,548 / 10,192 |
| Target Grant Value | $454,971 (at $89.28 close; PRSUs valued at $85.71 due to no dividends) |
| Annual and cumulative metrics (weighting) | Revenue growth (30%), Adjusted EBITDA growth (50%), FCF conversion (20%); earned each year, with payout at end of three-year period; cumulative can supersede annual |
| Definitions | Adjusted EBITDA excludes depreciation, acquisition/integration costs, restructuring, step-up depreciation, intangibles amortization, share-based comp, divestiture gains; FCF conversion = (FCF + integration costs) / Adjusted EBITDA |
2025 PRSUs structure enhancement: Operating goal PRSUs add adjusted EPS growth (50%), FCF conversion (30%), revenue growth (20%); separate TSR PRSUs now comprise 27–42% of LTI to further align with shareholder outcomes .
Time-based RSUs
| Grant Date | Shares | Grant Date Fair Value | Vesting |
|---|---|---|---|
| Oct 27, 2023 | 8,954 | Not separately stated in table; included in outstanding RSUs | One-third annually over three years |
| Feb 1, 2024 | 5,096 | $454,971 | One-third annually on each of first three anniversaries |
Equity Ownership & Alignment
| Measure | Detail |
|---|---|
| Total Beneficial Ownership | 24,438 shares (21,771 owned + 2,667 that may settle within 60 days); <1% of shares outstanding |
| Unvested RSUs (and market value) | 11,066 RSUs; market value $497,417 at $44.95 11/29/2024 close |
| Unvested PRSUs (target; market value) | 5,096 units; market value $229,065 at $44.95 |
| Options | None (no options outstanding) |
| Pledging | None pledged unless indicated; no pledge disclosure for Gibson |
| Special Restricted Stock from Webhelp | 969 shares vest if CNXC reaches $170/share within 7 years from Sep 25, 2023 (VWAP-based) or upon a change of control ≥$150/share within 3 years; no dividends; voting rights waived |
| Ownership Guidelines | Executives must hold CNXC stock equal to 3x base salary; Gibson is disclosed as exceeding guideline; unearned performance awards and unexercised options do not count |
Employment Terms
| Provision | Detail |
|---|---|
| Appointment & Role | Appointed EVP, Global Sales & Account Management on Jan 4, 2024; succeeded former EVP as part of succession planning |
| Employment Agreement (UK) | May 2016 Webhelp agreement assumed at CNXC; originally: statutory UK notice (one week per year of service, max 12 weeks; 11 weeks as of 11/30/2024); Jan 2025 amendment: six months’ notice or salary in lieu plus pro-rata target SMIP through termination, including notice period |
| Restrictive Covenants | UK agreements include non-compete and employee/client non-solicit |
| Change-of-Control Severance Plan | Not eligible as a non-U.S. person (distinct from U.S. NEOs under CNXC Change of Control Severance Plan) |
| Equity Acceleration | Double-trigger: unvested equity accelerates if involuntary termination within 24 months following change of control (per award terms) |
| Potential Payments (as of 11/30/2024) | Termination without cause (no CoC): $102,499 salary continuation; Following CoC involuntary termination: $102,499 salary continuation + $690,342 equity vesting; total $792,841 (GBP-to-USD at FY24 rate) |
Compensation Structure Analysis
- Pay mix emphasizes performance: 50%+ of LTI in PRSUs, with multi-year metrics and 2025 TSR overlays; Gibson’s 2024 PRSUs target 5,096 shares under revenue/EBITDA/FCF conversion goals .
- Annual SMIP metrics are challenging vs prior year and balanced across profitability and growth; FY2024 payout reduced to 90.5% despite 93.0% earned, signaling discipline and reinvestment bias .
- Governance features include robust clawback policy aligned with Nasdaq, anti-hedging, no tax gross-ups, and strict grant timing practices to avoid MNPI windfalls .
- Peer benchmarking uses large-cap, tech-enabled services comparators; CNXC’s revenue percentile is high while market-cap percentile is lower, informing competitive pay calibration .
Say-on-Pay & Compensation Peer Group
- 2024 Say-on-Pay approval: 93.4%—strong investor support for pay program .
- Compensation peer group (for FY2024 decisions) includes Cognizant, DXC, Genpact, Teleperformance, EPAM, Fair Isaac, among others (see full list in filing) .
Performance & Track Record
- Company milestones under Gibson’s tenure context: Webhelp integration completed ahead of plan (January 2025), GenAI product iXHello launched; fiscal 2024 revenue grew to $9.62B (+35.2%), adjusted EBITDA to $1.55B (+31.6%) .
- Pay-versus-performance TSR index for FY2024 was 42.81 vs peers at 26.18, reflecting share price pressure amid transformation; CAP/TSR disclosures illustrate equity value sensitivity to execution .
Risk Indicators & Red Flags
- Hedging prohibited; strong clawback; no CoC tax gross-ups; no single-trigger CoC: mitigates misalignment risks .
- No pledging disclosed; equity grants follow controlled timing; reduction of FY2024 SMIP payout below earned level indicates governance discipline .
- Related party transaction governance robust; largest shareholder (GBL) rights governed by Investor Rights Agreement; not specific to Gibson .
Investment Implications
- Alignment: Gibson’s incentives are heavily equity/performance-based (PRSUs, RSUs), with 2025 addition of TSR and adj. EPS growth increasing linkage to shareholder outcomes; he exceeds ownership guidelines, enhancing skin-in-the-game .
- Retention risk: As a UK-based executive, he lacked CoC plan eligibility; the January 2025 amendment to his contract (six months’ notice, SMIP pro-rata) improves retention certainty and reduces transition risk; equity features include double-trigger acceleration under CoC .
- Near-term flow dynamics: RSU tranches from Oct 2023 and Feb 2024 vest annually over three years; while trading is restricted by policy, standard vest cycles can create periodic supply; governance policies (pre-clearance, windows) mitigate opportunistic sales .
- Execution focus: With FY2024 growth and EBITDA expansion, sales leadership remains central; the TSR overlay in 2025 PRSUs sharpens market accountability on growth-quality, margin discipline, and cash conversion under Gibson’s commercial remit .
Notes: All figures and terms are sourced from CNXC’s 2025 and 2024 Proxy Statements and the January 5, 2024 Form 8-K (citations embedded). Where items are not disclosed in filings (e.g., formal education), they are omitted to maintain accuracy.