DXC makes Raul Fernandez permanent pres., CEO

Raul Fernandez is now the permanent president and CEO of DXC Technology, the Ashburn-based Fortune 500 IT company announced Thursday.

DXC appointed Fernandez interim president and CEO in December 2023, replacing Mike Salvino in two of his three roles. David Herzog, DXC’s lead independent director, replaced Salvino as chairman of the board. Fernandez has been a member of DXC’s board of directors since 2020.

“After a thoughtful evaluation of Fernandez’s leadership and operational expertise, as well as his deep knowledge of DXC from his time on the board of directors and as interim CEO, the Board determined that he is the right leader to advance DXC’s strategic plan and position the company for long-term growth,” Herzog said in a statement.

Fernandez is also vice chairman and co-owner of Monument Sports & Entertainment, which owns the NHL Washington Capitals team and the NBA’s Washington Wizards, as well as the WNBA’s Washington Mystics. The hockey and men’s basketball teams have proposed moving from Washington, D.C., to Alexandria in a $2 billion deal announced earlier this month.

Fernandez was founder and CEO of e-commerce solutions provider Proxicom, which launched in 1991 and went public in 1999. Dimension Data acquired Proxicom in 2001. Fernandez was CEO of information systems integration company Dimension Data North America from 2000 to 2002, before serving as chairman and CEO of intelligent video surveillance software developer ObjectVideo, which Alarm.com bought in 2017.

Fernandez said in a statement: “I am thrilled to be leading DXC as president and CEO. … During my time on the board and as interim CEO, I have gained a deeper understanding of DXC’s operations and identified opportunities to enhance our geographic go-to-market execution, further strengthen our financial performance and create an environment to grow and develop talent.”

Fernandez is a director of Broadcom, an alternative governor for the NBA Board of Governors, a special adviser to Carrick Capital Partners and a member of Volition Capital’s strategic advisory board.

He has been a director of GameStop, Kate Spade & Co. and Capitol Investment Corp. V, and he served on the President’s Council of Advisors on Science and Technology for then-President George W. Bush.

Fernandez holds a bachelor of economics degree from the University of Maryland.

The DXC board has suspended its previously announced search for a permanent CEO.

In March 2023, DXC rejected a buyout offer from a private equity firm, reported by Bloomberg as Baring Private Equity Asia.

Also in March, the U.S. Securities and Exchange Commission penalized the company for making “misleading” financial reports from 2018 to early 2020. DXC did not admit to or deny the charges but consented to a cease-and-desist order and agreed to pay an $8 million penalty.

DXC has about 133,000 employees worldwide and almost 6,000 private and public sector customers.