Manhattan Associates Inc (NASDAQ: MANH) said on Monday that Eddie Capel, current President and CEO, would step down from his position, effective February 12th.
He will remain with the company as Executive Vice-Chairman of the Board.
Capel is to be succeeded by Eric Clark, who has been CEO of NTT Data North America.
Capel became part of Manhattan’s team in June 2000. After assuming various operations and technology roles, he was appointed as Chief Operating Officer in January 2011 and as President and CEO in January 2013.
”Eddie Capel has accomplished a great deal as CEO setting our strategic direction, building our winning team and creating shareholder value. During his tenure as CEO, Manhattan solidified its position as a leading global technology provider and innovator in both supply chain and omnichannel commerce,” John Huntz, Manhattan’s Chairman, said in a press release.
”The Board thanks Eddie for his dedication to Manhattan over the last 25 years and for working diligently with the Board during our comprehensive CEO succession planning process over the last 24 months. We look forward to his continued involvement as Executive Vice-Chairman and as a member of the Board of Directors.”
Stock Performance
The shares of Manhattan Associates Inc (MANH) closed 11.55% ($23.20) lower at $177.70 on Nasdaq on Monday.
The company’s total market cap now stands at $10.862 billion.
The shares of Manhattan Associates Inc (MANH) went up 25.51% in 2024, compared with a 28.64% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have lost 34.24% so far this year.
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