On the heels of one other quarter of double-digit income positive aspects, Excessive Networks revealed on its Wednesday earnings name that CFO Rémi Thomas was resigning. Senior Vice President and head of Monetary Planning and Evaluation Cristina Tate is stepping in as interim CFO.
Excessive Networks CFO Rémi Thomas is leaving to pursue a chance at an unnamed, privately held software program firm, the corporate stated Wednesday.
In his stead, Senior Vice President and head of Monetary Planning and Evaluation Cristina Tate will take over as interim CFO. Excessive Networks stated it has already begun the seek for a brand new CFO with the help of a number one government search agency.
Thomas will stay with the corporate till Feb. 16.
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Tech veteran Thomas has been sitting in Excessive’s CFO seat since 2018. Earlier than his time with the corporate, he served as senior vice chairman and company controller for CA Applied sciences. Previous to that, he served as vice chairman and CFO of Hewlett-Packard Enterprise’s software program enterprise.
“I need to personally thank [Thomas] for his management at Excessive and serving to oversee main milestones, similar to our acquisition and integration of each Aerohive Networks and Ipanema. He performed a key position in our cloud transformation and helped efficiently steer Excessive by way of a worldwide pandemic and unprecedented provide chain challenges. We’re forecasting accelerated progress over the following a number of years that may produce important working leverage that we’re primed to benefit from,” Ed Meyercord, the corporate’s president and CEO, stated in an announcement.
Tate, for her half, at the moment works on long-term planning, budgeting, forecasting and administration reporting and oversees all finance enterprise partnerships throughout the varied company features at Excessive. Tate can also be the Chair of Excessive’s Ladies in Networking (WIN) alliance. She joined the corporate in 2019 as vice chairman of finance. Previous to her time with Excessive, Tate served as vice chairman of finance for Micro Focus and earlier than that, led HPE’s Software program enterprise unit.
Morrisville, N.C.-based Excessive Wednesday reported income of $318.35 million for the second quarter ended Dec. 31, up 11.7 % in contrast with year-ago income of $280.93 million. The corporate’s Software program-as-a-Service ARR was $115 million, up 29 % yr over yr.
Meyercord advised CRN in an earlier interview that the corporate is in a time of accelerated progress. The corporate closed out its 2022 fiscal yr with double-digit reserving progress that beat out what its competitors—Cisco Techniques—was in a position to ship.
Excessive Wednesday raised it Fiscal Yr 2023 income progress outlook and stated it expects the momentum to proceed into Fiscal Yr 2024 as the availability chain surroundings continues to enhance.