|By Business Wire||
|August 18, 2014 08:04 AM EDT||
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.
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.
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:
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.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Sep. 1, 2015 11:45 PM EDT Reads: 389
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Sep. 1, 2015 08:15 PM EDT Reads: 420
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Sep. 1, 2015 07:00 PM EDT Reads: 271
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Sep. 1, 2015 06:45 PM EDT Reads: 476
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Sep. 1, 2015 04:30 PM EDT Reads: 388
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Sep. 1, 2015 04:15 PM EDT Reads: 436
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
Sep. 1, 2015 04:00 PM EDT Reads: 211
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Sep. 1, 2015 04:00 PM EDT Reads: 196
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Sep. 1, 2015 03:00 PM EDT Reads: 511
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Sep. 1, 2015 03:00 PM EDT Reads: 442
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Sep. 1, 2015 02:45 PM EDT
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Sep. 1, 2015 12:45 PM EDT Reads: 479
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Sep. 1, 2015 12:30 PM EDT Reads: 916
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
Sep. 1, 2015 12:30 PM EDT Reads: 262
Enterprises can achieve rigorous IT security as well as improved DevOps practices and Cloud economics by taking a new, cloud-native approach to application delivery. Because the attack surface for cloud applications is dramatically different than for highly controlled data centers, a disciplined and multi-layered approach that spans all of your processes, staff, vendors and technologies is required. This may sound expensive and time consuming to achieve as you plan how to move selected applicati...
Sep. 1, 2015 12:30 PM EDT
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Sep. 1, 2015 11:45 AM EDT Reads: 678
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Sep. 1, 2015 11:45 AM EDT Reads: 326
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
Sep. 1, 2015 11:45 AM EDT Reads: 495
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Sep. 1, 2015 11:15 AM EDT Reads: 297
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Sep. 1, 2015 11:15 AM EDT Reads: 373