IT services giant Computer Sciences Corporporation has appointed Mike Lawrie, currently CEO of banking software vendor Misys, as its new chief executive and president.
The news comes as UK-based Misys has agreed terms of a merger with Swiss rival Temenos. Under the proposed terms of the deal, Temenos CEO Guy Dubois would become CEO of the merged company.
US-born Lawrie joins CSC at a troubled time for the company. In November 2011, it posted a $2.9 billion quarterly loss, having written down the value of intangible assets by $2.6 billion.
At the time, incumbent CEO Mike Laphan told investment analysts that the company’s contract to provide the NHS with an electronic health care systems, much delayed and over budget, was one of the reasons why CSC has lost goodwill in the market.
CSC pointed to Lawrie’s experience as chairman of Allscripts-Misys Healthcare Solutions, a healthcare-focused division that Misys divested in 2010. "His emphasis on innovative healthcare and improving patient care will help drive CSC’s strategic growth plan in the healthcare IT market," the company said in a statement.
Misys informed investors yesterday that Lawrie had "received an offer of employment from a third party. Accordingly, the board and Mike Lawrie have mutually agreed that he will leave Misys on 31st March 2012."
