BLUE BELL, Pa., July 30, 2020 /PRNewswire/ -- Unisys Corporation (NYSE: UIS) today announced that the Philadelphia Business Journal has honored Michael M. Thomson, Unisys senior vice president and Chief Financial Officer, with a "2020 CFO of the Year" award.
Thomson and other winners will receive formal recognition at a virtual award ceremony today.
The award recognizes the success Thomson has achieved in leading Unisys Global Finance organization since assuming the role of CFO on an acting basis in April 2019, with confirmation as permanent CFO the following September. He joined Unisys as corporate controller and principal accounting officer in December 2015.
His leadership helped Unisys accelerate its ongoing financial momentum in 2019. The company's full-year 2019 non-GAAP adjusted revenue grew 6.1% year-over-year, representing a second consecutive year of growth and the highest annual growth since 1998. Total company adjusted free cash flow nearly doubled year-over-year as the company achieved guidance ranges on all its guided financial metrics for the year.
Thomson was also instrumental in leading the successful effort ‒ announced in February 2020 and closed the following month ‒ to sell Unisys' U.S. Federal business to SAIC, a premier technology integrator serving the defense, space, federal civilian and intelligence markets. The transaction significantly improved Unisys' capital structure and financial flexibility, which in turn has created additional operating flexibility. Unisys used the proceeds from the $1.2 billion transaction to reduce net debt by more than $1 billion and address approximately $600 million worth of required U.S. pension contributions.
"Throughout his tenure at Unisys, and even more so as CFO, Mike has played a major role in strengthening the company's financial position and advancing our business objectives," said Unisys Chairman and CEO Peter A. Altabef. "He deserves this prestigious recognition."
Unisys is a global information technology company that builds high-performance, security-centric solutions for the most demanding businesses and governments. Unisys offerings include security software and services; digital transformation and workplace services; industry applications and services; and innovative software operating environments for high-intensity enterprise computing. For more information on how Unisys builds better outcomes securely for its clients across the government, financial services and commercial markets, visit www.unisys.com.
RELEASE NO.: 0730/9779
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SOURCE Unisys Corporation