Conduent General Counsel Resigns Mid-Divestiture, Fifth C-Suite Exit in Nine Months
Management crisis
Company Background
Conduent is a Florham Park, N.J.-based business process services company serving commercial, government, and transportation clients, with a workforce of approximately 48,000 employees. The company posted a GAAP net loss of $170 million on revenue of $3,042 million for full-year 2025, continuing a multiyear trend of declining top-line results. First-quarter 2026 revenue came in at $723 million, down 3.7% year-over-year, with an additional GAAP net loss of $33 million.
The financial position remains under pressure. As of March 31, 2026, Conduent carried $698 million in long-term debt against a cash balance of $228 million and a market capitalization of approximately $234 million. The revolving credit facility, currently sized at $357 million, steps down to $187 million in October 2026, compressing available liquidity at a time when the company continues to generate negative free cash flow.
In January 2026, long-serving CEO Clifford Skelton stepped down and was replaced by Harsha Agadi, then the board's chairman, who has since been executing a portfolio restructuring program: selling non-core assets, cutting costs, and reorganizing the commercial leadership structure. Management has targeted more than $200 million in divestiture proceeds in 2026 and $100 million in cost efficiencies over the following 18 months, with a stated goal of positive free cash flow in 2027.
What Was Disclosed
Michael Krawitz, Executive Vice President, General Counsel and Corporate Secretary, notified Conduent on July 2, 2026 that he will resign effective July 31, 2026 to pursue other professional endeavors. No successor has been named. Krawitz will remain through his final day to assist with the transition, and the company states his resignation is not the result of any disagreement over financial reporting, operations, policies, or practices.