Electronic Data Systems ups exec to CEO
Tech firm Electronic Data Systems promoted an executive to be its new president and CEO, according to the Dallas Morning News
Effective Sept. 1, Ronald Rittenmeyer, currently president and chief operating officer, will step into the leadership position at the Plano, Texas-based company. He replaces Michael Jordan, who has been in the position since March 2003 and will continue to serve as the company’s chairman.
“Given Ron’s track record of success and his unwavering commitment to drive results for clients and shareholders, the board and I believe this is the right time to implement EDS’ established succession plan with Ron at the helm,” Jordan said in a statement.
Before joining EDS in 2005 as executive vice president of service delivery, Rittenmeyer was managing director of private equity firm The Cypress Group. He earned his bachelor’s degree from Wilkes University and his MBA from Rockhurst University.
A global technology services provider, EDS handles the outsourced IT needs for a wide range of companies, from financial services providers to retail industries. The company’s main services include hosting, security and privacy, data storage and communications services.
As the new top executive at EDS
, Rittenmeyer said that he wouldn’t shy away from relinquishing money-losing contracts.
“All revenue is not good revenue,” he told the Morning News. “I’ve said ever since I got here that we will walk away from deals that aren’t good, and we’ve done that.”
He told the newspaper that no dramatic strategy shifts are expected at present and that the company is focused on international expansion. To date, more than half of the company’s employees work outside of the United States.
An EDS spokesperson told WinmoEdge that the company’s sales people will report to Rittenmeyer, who handles the company’s marketing needs. He couldn’t comment on what if any changes the company would make to its marketing strategy.
In its first and most recent quarter, EDS’ revenue increased 3 percent to $5.2 billion. The company signed $3.4 billion in contracts, compared to the $10 billion in the same quarter of 2006.
According The List database, EDS works with several different agencies for various needs, including New York-based Bartle Bogle Hegarty, who created the company’s latest campaign.
According to Nielsen Monitor-Plus, the company spent about $4.9 million in media in 2006. About $4 million was spent on network television, about $600,000 on national magazines and about $1.1 million on cable television advertising.
B-to-B agencies with category experience should make introductions to Rittenmeyer. The company is tech-focused, so only agencies with plenty of category experience need apply. EDS has plenty of money to spend, so approach with project work that can translate into a long-term relationship. If your firm can help with corporate sponsorship both nationally and abroad, waste no time in contacting the company.