Unisys COO Michael Thomson will take over for Peter Altabef in April as CEO and president, writes Ryan Mulligan for the Philadelphia Business Journal.
Altabef, who served at the helm for a decade, will remain as board chair, a role he has held since 2018.
Thomson joined Unisys in 2015, serving as CFO before becoming COO in 2022. He holds degrees from Philadelphia University and Villanova University and previously worked at Towers Watson, Towers Perrin, and RCN Corp.
Altabef’s tenure at the Blue Bell-based information technology firm was marked by transformative moves, including the acquisition of Unify Square, Mobinergy, and CompuGain in 2021, and a significant rebranding effort in 2022. However, his leadership faced challenges, including a $4 million settlement with the SEC in October related to a federal investigation that impacted Unisys’ stock performance.
Unisys shares were down 18.5% Friday to $7.25, though they remain up over 25% year-to-date. In its latest report, the company posted third-quarter revenue of $497 million, a 7% year-over-year increase, and raised its profitability outlook.
As CEO, Thomson will earn a base salary of $800,000 with an annual target bonus of 120%. His leadership will steer Unisys as it builds on its recent growth and navigates industry challenges.
Read more about Michael Thomson and Unisys’ new direction in the Philadelphia Business Journal.
