Welcome!

Cloud Expo Authors: JP Morgenthal, Craig Ferril, Michael Bushong, Peter Silva, Ed Featherston

News Feed Item

ServiceSource Announces CEO Transition and New Managed Services President to Drive Next Phase of Strategic Plan

ServiceSource® (Nasdaq:SREV), the global leader in recurring revenue management, today announced that Mike Smerklo has resigned after 11 successful years at the helm. Mr. Smerklo will remain Chairman of the Board to ensure a smooth management transition and help guide the company’s long-term strategy. In addition, the Board of Directors announced the appointment of Chief Financial Officer, Ashley Fieglein Johnson, as Acting CEO, effective immediately, and has retained a leading executive search firm to identify a permanent CEO. Finally, ServiceSource is announcing the appointment of Rick Genovese as President of the new Managed Services Business Unit.

“My transition to Chairman and the appointment of a new Managed Services President are key milestones as we execute against our strategic plan,” said Mike Smerklo. “As we begin the next phase of the company’s transformation, I am confident in the operating strategy we have laid out and the team’s ability to execute. As Chairman, I will continue to advise the company through this transition, and I look forward to seeing ServiceSource’s continued growth and success.”

Focus on Strategic Direction

In July, ServiceSource announced its strategic plan to restore growth and profitability to the business. As a result, the company established two distinct business units for its Managed Services and SaaS operations and plans to align investments and go-to-market activities along these efforts. To support this strategic transformation, ServiceSource is announcing the following changes:

  • Mike Smerklo will step down as CEO, and will continue to serve the company in the role of Chairman, advising the leadership team and ensuring a smooth transition for customers and employees.
  • Current CFO, Ashley Fieglein Johnson, who has been with the company for four years, will serve as Acting CEO, reporting to the Board and assuming day-to-day operations of the company. With strong operational experience and history with the company, Ms. Johnson will work closely with the Board to execute on the new ServiceSource strategy.
  • The Board of Directors has formed a search committee to hire a permanent CEO with strong operational credentials.
  • ServiceSource today expanded its senior leadership team by announcing the appointment of Rick Genovese as President of the Managed Services Business Unit. In this role, Mr. Genovese will own the strategy and execution for the company’s Managed Services Business Unit for recurring revenue management. He brings a strong history of driving executional excellence in business process outsourcing and technology service organizations including Ciber, Inc., IBM Global Services, PWC Consulting Services and EDS.

“As a seasoned veteran of the ServiceSource leadership team, Ashley intimately understands the details of the business and is the right leader to assume the role of Acting CEO at this important juncture for ServiceSource,” stated Bruce Dunlevie, Lead Director of the Board. “On behalf of the Board and global ServiceSource team, I want to thank Mike for his many contributions to the company over the past eleven years. Mike has been instrumental in building the team, establishing enduring customer relationships and implementing a solid operational foundation that will take the company into the future.”

About Ashley Fieglein Johnson

Ashley Fieglein Johnson brings more than 20 years of finance and operations experience to her role as Acting CEO of ServiceSource. As CEO, she will be responsible for overseeing all aspects of the company’s operations, while the Board completes a search for the permanent CEO. She was most recently Chief Financial Officer for ServiceSource, responsible for all aspects of finance, investor relations, strategy, corporate development and Information Technology.

Prior to ServiceSource, Ms. Johnson founded GreenAtom, a professional services firm focused on advising companies in the Clean Technology industry on financial strategy, business development and organizational structure. Ms. Johnson spent several years with General Atlantic, a private equity firm servicing the technology industry, where she helped build and manage its presence on the West Coast. Before General Atlantic, Ms. Johnson led international business development for Ariba and worked in both venture investing and investment banking for the technology corporate finance division of Morgan Stanley.

Ms. Johnson earned a Bachelor of Arts in International Relations and a Master in International Policy from Stanford University.

About Rick Genovese

Rick Genovese most recently served as the Chief Operating Officer and Executive Vice President of Ciber, Inc. a global information technology consulting, services and outsourcing company. At Ciber he had direct responsibility for unifying processes and improving operations globally. Mr. Genovese also served as Executive Vice President leading North American Operations, and overseeing all business processes, including strategy, sales, solutions, client relationships, delivery and financial performance.

Mr. Genovese has extensive global business process outsourcing experience, having served as a member of both IBM’s Global Business Services Leadership and PwC’s Global Partnership Council for Consulting Services. At IBM, he served as General Manager of Application Services for the Americas, the largest offering group within IBM's Global Business Services. Prior to that, he was General Manager of the IBM Business Process Outsourcing practice for the Americas and also Managing Partner of the Communications Consulting Sector for IBM Global Business Services. He joined IBM in 2002 through its acquisition of PwC, where he was Managing Partner of business process outsourcing for the Americas and Managing Partner for the Global Energy Consulting Practice. At PwC, Mr. Genovese was admitted as a partner in 1990. He began his career at EDS, where he was a principal.

Mr. Genovese earned a Bachelor of Science from Loyola University.

About ServiceSource

ServiceSource International, Inc. (NASDAQ:SREV) is the global leader in cloud-based recurring revenue management solutions. The company helps customers drive growth and build long-standing relationships across the customer lifecycle with the industry's most comprehensive data management, analytics, automation and services capabilities. Through Renew OnDemand®, Scout® and proven services, ServiceSource delivers higher subscription, maintenance, and support revenue, improved customer retention, and increased business predictability. Headquartered in the Cloud Corridor of San Francisco, ServiceSource® manages $14.5 billion in recurring revenue for the world's largest and most respected technology and B2B companies. For more information, please go to www.servicesource.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding profitable growth prospects of ServiceSource and the Managed Services business. These forward-looking statements are based on our current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from those expressed or implied in our forward-looking statements. Those risks and uncertainties include, without limitation, fluctuations in our quarterly results of operations; the risk of material defects or errors in our software offerings or their failure to meet customer expectations; migrating customers to Renew OnDemand and other SaaS offerings and the ability to integrate such offerings with other third-party applications used by our customers; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; our ability to grow the market for service revenue management; our ability to protect our intellectual property rights; the risk of claims that our offerings infringe the intellectual property rights of others; changes in market conditions that impact our ability to sell the Renew OnDemand, Scout or other SaaS solutions and/or generate service revenue on our customers' behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; demand for our offering that falls short of expectations; our ability to keep customer data and other confidential information secure; our ability to adapt our solution to changes in the market or new competition; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which can be obtained online at the Commission's website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements.

Connect with ServiceSource:

http://www.facebook.com/ServiceSource

http://twitter.com/servicesource

http://www.linkedin.com/company/servicesource

http://www.youtube.com/user/ServiceSourceMKTG

Trademarks

ServiceSource, Renew OnDemand, Scout and any ServiceSource product or service names or logos above are trademarks of ServiceSource International, Inc. All other trademarks used herein belong to their respective owners.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "the new virtualization." But containers are more than lightweight virtual machines. Beyond their small...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...