- CEO Barak Eilam to step down by finish of 2024 after greater than 10 years at helm
- Firm initiates seek for successor
HOBOKEN, N.J.–(BUSINESS WIRE)–NICE (Nasdaq: NICE) immediately introduced a deliberate management transition. Barak Eilam, Chief Govt Officer, has knowledgeable the Board of Administrators of his determination to step down from his place, efficient December 31, 2024. Eilam will stay CEO till the tip of the 12 months, making certain a easy transition. He’ll actively take part within the seek for his successor alongside the Board and collaborate with the brand new chief throughout a transition interval. Moreover, Eilam will proceed to behave in a strategic consulting capability through the first half of 2025. The Board has initiated a CEO search to establish the corporate’s subsequent chief in partnership with a prime government recruiting agency. The search will think about each inside and exterior candidates to make sure one of the best match for NICE.
“The Board extends its gratitude for the outstanding achievements NICE has achieved underneath Barak’s ten-year management,” stated David Kostman, Chairman of the Board at NICE. “The corporate is properly positioned for the longer term as a frontrunner in cloud, digital and AI. We deeply recognize Barak’s unwavering dedication to NICE and sit up for persevering with our work with him towards executing our 2024 plan, setting the corporate up for future success, and collaborating with him all through the CEO search to make sure a easy management handover.
Barak’s management has been transformative for NICE. Throughout his tenure, NICE’s visionary technique propelled the corporate to undisputed management throughout its markets. Underneath Barak’s steerage, the corporate is now a key participant within the enterprise software program market leveraging cloud and AI and is properly positioned for ongoing prosperity. With relentless deal with innovation and strategic acquisitions, he remodeled NICE right into a cloud chief, constructing the trade’s most superior AI platform. As CEO, Barak has constructed an amazing basis for the longer term with a powerful management workforce and orchestrated large shareholder worth creation: the whole addressable market expanded fivefold; whole income tripled; cloud income quickly grew from close to zero to $1.6 billion; and earnings per share greater than tripled.
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Main NICE for the previous decade has been the head of my profession. It’s an honor to work alongside a workforce of 8,500 proficient and devoted NICErs across the globe. Whereas my workforce and NICE’s mission continues to encourage me every day, after 25 years at NICE and with the corporate poised for continued management and success, it is the suitable time to transition the helm of the corporate to a brand new chief” stated Barak Eilam, CEO, NICE.
Mr. Eilam continued, “I stay laser centered to ship our 2024 plan, assist the success of our prospects and companions and work carefully with our product groups on our thrilling improvements. NICE has a vivid future forward, and I am dedicated to making sure a seamless transition.
About NICE
With NICE (Nasdaq: NICE), it is by no means been simpler for organizations of all sizes across the globe to create extraordinary buyer experiences whereas assembly key enterprise metrics. That includes the world’s #1 cloud native buyer expertise platform, CXone, NICE is a worldwide chief in AI-powered self-service and agent-assisted CX software program for the contact heart “ and past. Over 25,000 organizations in additional than 150 international locations, together with over 85 of the Fortune 100 firms, associate with NICE to rework – and elevate – each buyer interplay. www.good.com
Trademark Word: NICE and the NICE emblem are emblems or registered emblems of NICE Ltd. All different marks are emblems of their respective homeowners. For a full checklist of NICE’s marks, please see: www.good.com/nice-trademarks.
Ahead-Wanting Statements
This press launch incorporates forward-looking statements as that time period is outlined within the Non-public Securities Litigation Reform Act of 1995. Such forward-looking statements, together with the statements by Mr. Eilam, are based mostly on the present beliefs, expectations and assumptions of the administration of NICE Ltd. (the Firm). In some instances, such forward-looking statements could be recognized by phrases similar to imagine, anticipate, search, might, will, intend, ought to, undertaking, anticipate, plan, estimate, or related phrases. Ahead-looking statements are topic to a lot of dangers and uncertainties that might trigger the precise outcomes or efficiency of the Firm to vary materially from these described herein, together with however not restricted to the impression of adjustments in financial and enterprise situations; competitors; profitable execution of the Firm’s development technique; success and development of the Firm’s cloud Software program-as-a-Service enterprise; adjustments in expertise and market necessities; decline in demand for the Firm’s merchandise; incapacity to well timed develop and introduce new applied sciences, merchandise and functions; difficulties in making extra acquisitions or difficulties or delays in absorbing and integrating acquired operations, merchandise, applied sciences and personnel; lack of market share; an incapacity to keep up sure advertising and distribution preparations; the Firm’s dependency on third-party cloud computing platform suppliers, internet hosting services and repair companions; cyber safety assaults or different safety breaches in opposition to the Firm; privateness issues; adjustments in forex change charges and rates of interest, the consequences of extra tax liabilities ensuing from our world operations, the impact of sudden occasions or geo-political situations, such because the impression of conflicts within the Center East which will disrupt our enterprise and the worldwide financial system; the impact of newly enacted or modified legal guidelines, regulation or requirements on the Firm and our merchandise and varied different elements and uncertainties mentioned in our filings with the U.S. Securities and Trade Fee (the SEC). For a extra detailed description of the chance elements and uncertainties affecting the corporate, check with the Firm’s reviews filed every now and then with the SEC, together with the Firm’s Annual Report on Type 20-F. The forward-looking statements contained on this press launch are made as of the date of this press launch, and the Firm undertakes no obligation to replace or revise them, besides as required by regulation.
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