Manhattan Associates: Longtime CEO Eddie Capel Stepping Down

Manhattan Associates announced that President and CEO Eddie Capel will be stepping down from his position on Feb. 12, 2025. Eric Clark, who has been serving as CEO of NTT Data North America, will be the new CEO of Manhattan Associates and will join the board of directors. Clark has had senior leadership positions with ServiceNow, Dell, and Hewlett Packard Enterprise, among other roles. Capel will continue to serve as executive vice-chairman of the board, assisting with the CEO transition and other special projects, as well. Shares have been chopped down from fourth-quarter results and are moving lower on the Feb. 10 news, as Capel’s direction was highly valued by investors. We are maintaining our fair value estimate of $230 per share. The company remains a leader in supply chain software, and we see shares as attractive but acknowledge the short-term pressure from recent events.