CGI Names New CEO Amid AI Disruption Fears

Canadian IT consulting firm CGI Inc. has appointed Tim Hurlebaus as its new chief executive officer. This leadership change comes as the company's share price has experienced a significant decline, dropping approximately 40% over the past year. The market's apprehension is largely attributed to concerns surrounding the disruptive potential of artificial intelligence startups, with specific mention of companies like Anthropic PBC, which are rapidly advancing AI capabilities and potentially impacting traditional IT service models.