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Alight, Inc. (NYSE: ALIT) reported its first quarter 2024 results with a 21% growth in BPaaS revenue, $100 million cash from operations, and $3.1 billion total company revenue under contract for 2024. The company announced an agreement to sell Payroll and Professional Services business for up to $1.2 billion, with expected closing in mid-year 2024. Alight also promoted Greg Goff to President and Jeremy Heaton to Chief Financial Officer. Despite some revenue decreases and an increase in net loss, the company remains optimistic about its transformation and profitability growth for the future.
Alight announced two leadership changes with Jeremy Heaton being promoted to Chief Financial Officer and Katie Rooney focusing on supporting the closure of the Payroll and Professional Services divestiture. Greg Goff was promoted to President. These changes are part of the Company's ongoing transformation. Heaton has over two decades of financial experience, including at GE, while Goff has 23 years of experience in the technology industry.
Alight, Inc. (NYSE: ALIT) appoints Dave Guilmette and Coretha Rushing as independent directors to its Board of Directors as part of a cooperation agreement with Starboard Value LP. The Board will also seek to appoint an additional director with benefits administration experience. The Company plans to hold an investor day to discuss financial outlook post-sale of certain segments. The appointments aim to enhance corporate governance and shareholder value.
Alight (NYSE: ALIT) is set to announce its first-quarter 2024 financial results on May 8, 2024. The management will discuss the results in a webcast at 8:30 a.m. ET. The financial information presentation will be publicly available on Events & Presentations. A replay of the call will be accessible on the Company website and via phone until May 22, 2024.
