The enterprise technology market leader announced an official transition process. Specifically, the board of directors appointed Rajat Bahri and Jim Moffatt as interim co-CEOs. This leadership group will execute corporate growth plans immediately.
Consequently, the current board initiated a thorough search for a permanent chief executive officer. They hired a premier executive search firm to discover qualified talent. Meanwhile, former leader Anand Subbaraman will serve as a strategic advisor. He will actively support the management team to ensure a seamless leadership transition.
Moffatt will additionally serve as the new Chair of the Board. He brings valuable experience as a previous enterprise chief executive officer. Concurrently, Bahri will maintain his duties as the acting Chief Financial Officer. Both executives possess deep institutional knowledge of the AI-native contract intelligence platform.
“Icertis is entering an exciting new chapter from a position of strength, with strong market momentum, industry-leading innovation, and a clear strategy for its next phase of growth,” said Penny Pritzker, Lead Independent Icertis Director and Chairman of PSP Partners and its affiliates. “The Board has great confidence in Rajat and Jim as they step into these leadership roles. Rajat’s proven track record of financial leadership and deep understanding of the business, combined with Jim’s extensive experience serving as both the Global and U.S. CEO of Deloitte Consulting, during which time he doubled revenue, make them exceptionally well positioned to guide Icertis forward. Together, they bring the strategic vision, operational discipline and customer focus needed to build on the company’s success while the Board conducts a search for our next CEO.”
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Previously, Moffatt led massive professional services organizations. He understands the core value of contract intelligence software systems. Therefore, the board feels confident that the firm will maintain its upward financial trajectory. The business continues to expand its digital footprint within the global software landscape.
“Having served as a member of the Board since 2022 and a member of the Advisory Board prior to that, I have had a front-row seat to Icertis’ growth and success, and I am pleased to be working closely with Rajat, the Board and our leadership team as we capitalize on the significant opportunities ahead,” said Interim co-CEO and Board Chair Jim Moffatt. “We are grateful for Anand’s service and his work to expand the company’s AI capabilities and in scaling operations. As our Board conducts its search for the next CEO, Rajat and I will ensure we do not miss a beat during this important time for our company.”
Furthermore, the corporation intends to accelerate its generative technology roadmap. The interim leaders plan to secure new corporate accounts across international borders. The firm remains focused on building the ultimate foundation for modern autonomous business processes.
“With our world-class team and next-generation contracting experience powered by Vera, Jim and I are focused on executing our strategy, delivering exceptional outcomes for our customers and partners and building on the strong momentum across the business,” said Interim co-CEO and CFO Rajat Bahri. “We look forward to working closely with our employees, customers and partners as we continue shaping the future of AI-native contract intelligence and the foundation for an autonomous enterprise.”
Finally, the organization expects to interview candidate options for the permanent chief executive officer role soon. The strategic committee wants an experienced corporate chief executive officer to anchor their next decade. They look forward to finding a long-term chief executive officer who understands cloud automation.
“It has been an incredible privilege and honor to be part of the Icertis team,” said Anand Subbaraman. “I am immensely proud of the progress we have made and all that we have accomplished together on behalf of customers and partners. I look forward to watching Icertis continue to innovate, grow and deliver for its customers for years to come.”
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Source: Businesswire
