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Vertiv appoints Scott Armul as new executive VP

Published 30-10-2024, 04:26 pm
VRT
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COLUMBUS, Ohio - Vertiv Holdings Co (NYSE: NYSE:VRT), a key player in critical digital infrastructure and continuity solutions, has announced the promotion of Scott Armul to executive vice president, global portfolio and business units, effective January 1, 2025. Armul, who is currently serving as vice president of global strategic accounts, will report directly to CEO Giordano Albertazzi.

In his new role, Armul will spearhead the company's growth-oriented global portfolio strategy, aiming to address the evolving needs of the industry and customer demands in the digital economy. The appointment is part of Vertiv's efforts to strengthen its leadership team and consolidate its position in the market.

Armul's journey with Vertiv began in 2009 as a business planning and development MBA intern. He has since climbed the ranks, holding various strategic and leadership roles, including senior marketing manager and vice president of global DC power and outside plant. His expertise and understanding of the business are expected to be instrumental in guiding Vertiv's portfolio of thermal management, power management, IT systems, infrastructure solutions, and global services.

With the digital economy's growth and the increasing demand for computing power driven by AI, Vertiv's customers depend on the company's innovation and technology leadership. CEO Albertazzi expressed confidence in Armul's abilities, citing his industry knowledge, strategic thinking, and customer intimacy as key factors in leading the company's global portfolio and business units to meet customer infrastructure objectives.

Stephen Liang, currently the chief technology officer and executive vice president of products and solutions, will, from January 1, 2025, concentrate solely on his CTO responsibilities, including defining the vision and strategy for future technology developments. Together, Armul and Liang are set to play a pivotal role in shaping Vertiv's technology roadmap.

The information disclosed in this news article is based on a press release statement from Vertiv Holdings Co.

In other recent news, Vertiv Holdings Co. reported impressive third-quarter earnings, leading to raised price targets and positive ratings from TD Cowen, Mizuho Securities, and Oppenheimer. TD Cowen maintained a Buy rating, increasing its price target to $115, encouraged by Vertiv's strong financial results and a record pipeline. Mizuho Securities also expressed positivity, raising the price target to $125 and setting the 2024 EPS at $2.70 and the 2025 EPS at $3.25, citing strong execution and expectations of accelerated organic growth.

Oppenheimer kept an Outperform rating, lifting the stock's price target to $121, emphasizing Vertiv's strong Q3 performance, which included a 19% increase in organic sales and a 37% growth in orders. Vertiv also raised its full-year guidance, now expecting a 14% organic growth and $1 billion in adjusted free cash flow.

Recent developments also highlight Vertiv's strategic partnership with NVIDIA (NASDAQ:NVDA) to co-develop power and cooling solutions, and plans to expand its liquid cooling capacity by 45 times by the end of 2023. Analysts from TD Cowen, Mizuho Securities, and Oppenheimer maintain a positive outlook on Vertiv's prospects, barring any slowdown in demand from hyperscale data centers, a significant part of Vertiv's customer base.

InvestingPro Insights

Vertiv Holdings Co's (NYSE: VRT) recent leadership changes come at a time of significant growth for the company. According to InvestingPro data, Vertiv has shown impressive financial performance, with a remarkable year-to-date price total return of 137.21% and a one-year price total return of 197.79%. This strong market performance aligns with the company's strategic moves to strengthen its executive team and focus on growth-oriented strategies.

The company's revenue growth of 13.2% over the last twelve months, coupled with an EBITDA growth of 40.97%, suggests that Vertiv is capitalizing on the increasing demand for digital infrastructure solutions. This growth trajectory supports the company's decision to promote Scott Armul to lead its global portfolio and business units, as it seeks to further expand its market presence.

InvestingPro Tips highlight that Vertiv is trading near its 52-week high, which reflects investor confidence in the company's direction and potential. Additionally, analysts have revised their earnings upwards for the upcoming period, indicating positive expectations for Vertiv's financial performance under its new leadership structure.

For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for Vertiv, providing a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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