What can we take away from 2025? So much has happened, but I would like to highlight three key points. First, I’d like to emphasize the gradual recovery in revenue growth, quarter after quarter and despite a challenging market, particularly in Europe. This is clearly the result of the tireless commitment of our teams, led with determination and talent by our CEO, Aiman Ezzat. It also confirms the pertinence of the strategic priorities he has defined and consistently implemented since 2020. On behalf of the Board, I would like to congratulate Aiman and his team on these achievements.
Next, the Group carried out several major acquisitions, the largest since Aiman became CEO. As always, the aim was to add innovative capabilities to the Group in market segments that are poised for growth: on the one hand, a leading company that has developed cutting-edge infrastructure management, which will help strengthen the Group’s digital sovereignty offerings; on the other, a leading player in outsourced business process management, with recognized sector-specific competencies. Combining their expertise with our data know-how gives the Group the means to become a leader in the new world of Intelligent Operations. Both acquisitions were unanimously approved by the Board.
Lastly, 2025 saw AI assert itself as a virtual necessity, following a series of high-profile technological announcements that had a significant impact on the stock market. Since 2023, AI, and notably Generative AI, has sparked enormous attention and, along with it, a wave of speculation. 2025 brought a fundamental shift: AI is no longer a mere area of experimentation; it has become a must-have that is revolutionizing how the most dynamic companies operate. We are witnessing a genuine turning point: the transition from discovery to deployment. Our clients are now seeking partners capable of helping them create value in real-world, demanding, and sometimes critical environments, and Capgemini has successfully established its credibility in this highly promising field.
For more than half a century, the Group has built its history on a simple conviction: technology only finds its true meaning when it contributes to, and often determines, the transformation of businesses and organizations. Our mission is to help our clients capitalize on technological breakthroughs: at the dawn of the internet, the shift to mobile technologies, and more recently with cloud computing. The recent announcement of our partnership with OpenAI illustrates Capgemini’s ability to play a major part in this new revolution. On this subject, I would like to point out that the Board has taken part in several training sessions to clearly identify these challenges and understand the scope of the actions decided by Group Management.
Throughout the business year, the structure of the Board, which I have the pleasure of chairing, underwent two changes. First, the arrival of Jean-Marc Chéry, following the decisions of the most recent shareholders’ meeting. His industrial and technological experience serves to strengthen our expertise at a time when infrastructure and challenges in the semiconductor sector are becoming increasingly important. Second, the replacement at the end of the year of Megan Clarken, who chose to leave the Board for personal reasons. I would like to thank her for her contribution to our work, and in particular the international perspective she brought to the role. Her seat on the Board has been taken by Lila Tretikov, whose experience in advanced technologies and innovation will provide another valuable perspective to our decision-making. Our shareholders will be asked to confirm this appointment. I would also like to extend a special farewell to those who are stepping down this year, Frédéric Oudéa and Xavier Musca, to whom the Board extends its warmest thanks for the quality of their contributions, the rigor of their work, and the unwavering commitment they have demonstrated throughout their terms.
In light of these changes in corporate governance, I have informed the Board of my intention to seek a renewal of my term as Director at the 2026 Shareholders’ Meeting. This candidacy is a continuation of the commitment I have shown in serving this Group for over 30 years and reflects my desire to contribute to the Board’s work, particularly regarding the technological and strategic challenges facing our sector. The Board plans to retain me as its Chairman, and I am both honored and extremely motivated to help it make the right decisions during this very exciting period.
Finally, I would like to sincerely thank our shareholders for their loyalty and support.
Paul Hermelin
Chairman of the Board of Directors
