CGI APPOINTS NEW CEO AS AI FEARS TANK STOCK

AI DESK■ 1 MIN READ

TUE, MAY 12, 2026

■ AI-SUMMARIZED FROM 2 SOURCES ▸ TIMELINE

Canadian IT consulting firm CGI Inc. named Tim Hurlebaus as chief executive officer following a 40% share price decline driven by concerns over artificial intelligence disruption from competitors like Anthropic.

CGI's board selected Hurlebaus to lead the company through a period of market volatility tied to AI-driven business model disruption. The appointment comes as the firm grapples with investor concerns about how emerging AI startups may reshape the IT consulting landscape. The consulting sector has faced headwinds as large language models and specialized AI platforms threaten traditional service delivery models. CGI, a major player in IT services and consulting globally, saw its valuation compressed as market sentiment shifted toward pure-play AI companies. Hurlebaus takes the helm with the task of positioning CGI competitively amid technological change. The firm must demonstrate its ability to adapt consulting services and integrate AI capabilities into its offerings. CGI's stock decline reflects broader anxieties across legacy tech firms about AI disruption. How successfully the company pivots its business model will likely determine whether the share price recovers or faces further pressure.

■ SOURCES

► Bloomberg Tech ► Bloomberg Tech

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

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CGI APPOINTS NEW CEO AS AI FEARS TANK STOCK

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