ACN Stock Slips As Accenture CEO Steps Down

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Accenture CEO (NYSE:>ACN

) has announced that he will be stepping down from the role after leading the global management consulting firm for nearly a decade.

Accenture CEO

Pierre Nanterme, Chairman and CEO of the Ireland-based company, said that he will be leaving his post as boss after serving the company for eight years under that role. The company added that Nanterme will be stepping down due to health reasons, although the circumstances and condition surrounding these health issues have not been fully revealed to the public.

Accenture did reveal back in July 2016 that Nanterme was diagnosed with colon cancer, although it is unclear how advanced the condition is, as well as what type of treatment the boss is currently on as he battles this difficult illness. The consulting firm said that it will put current Chief Financial Officer David Rowland in the position as interim CEO, which means that KC McClure, who is currently in charge of leading finance operations, will take over as CFO for the time being.

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Additionally, Accenture’s Lead Independent Director Marge Magner will be the company’s non-executive chair for the time being. The company also said that there are no changes to its outlook for the results of its second quarter of its fiscal 2019.

ACN stock was moving down slightly to the end the week, sliding about 0.5% on Friday.

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