Amdocs appoints Shimie Hortig as CEO

Core Insights - Amdocs CEO Shuky Sheffer is stepping down after eight years, with Shimie Hortig set to replace him [1][2] - Amdocs has reported a 4.1% increase in annual revenue and a non-GAAP earnings per share of $1.81, exceeding guidance [2][3] - The company has secured a multi-year agreement with T-Mobile and expanded its engagement with Vodafone Germany, indicating strong customer relationships [3] Leadership Transition - Shuky Sheffer's leadership is credited with navigating Amdocs through significant changes during the pandemic and technology disruptions [2] - Shimie Hortig, with 20 years of experience at Amdocs, is viewed as a natural successor and is expected to lead the company into the generative AI era [2] Financial Performance - Amdocs' GAAP net profit increased to $158 million from $151 million year-over-year, while non-GAAP net income rose to $196 million from $188 million [2] - The company generated free cash flow of $188 million in the quarter and anticipates annual free cash flow of $710-730 million for fiscal 2026 [2] Strategic Developments - Amdocs has extended its long-term relationship with T-Mobile and signed new agreements with other major telecom companies, enhancing its market position [3] - The company is advancing its generative AI initiatives, including the announcement of aOS, an operating system designed for telecommunications [3]