Amdocs has announced that Shimie Hortig will become its new chief executive, succeeding Shuki Sheffer, who is stepping down after eight years in the role. Hortig, currently Group President of the Americas Business Group and a twenty-year veteran at the company, is set to take over at the end of March. The company's chairman praised Sheffer for steering Amdocs through significant industry changes and highlighted Hortig's leadership and experience as key to guiding the company into its next phase, particularly in the era of generative artificial intelligence.

The leadership transition comes as Amdocs reported strong financial results for its first fiscal quarter, with revenue and profit both increasing compared to the previous year. The company also announced new and expanded agreements with major telecom operators and the acquisition of Matrixx Software, reinforcing its position in the market. Despite a dip in share price amid broader market negativity, Amdocs remains optimistic about its growth prospects and ongoing innovation in artificial intelligence.