Photo: Software AG
With the appointment of Husk and Quade, the Darmstadt-based company will expand its board to six members on August 1, 2022. Husk’s mission is to stimulate sales organizations in highly competitive markets. He replaces Scott Little, who has been in charge of the since 2019. Software Inc and has been Chief Revenue Officer for one year. He now wants to ‘dedicate himself to new tasks’, as mentioned.
Husk has previously held various leadership roles at various companies including IBM, Intel, Oracle and most recently at cloud company Samba Nova. The manager’s experience spans all go-to-market functions, including direct sales, collaborations and distribution channels, product management and internal sales. CEO Sanjay Brahmawar said the promotion would further accelerate the transformation of the company, which has been known as “Helix” since 2019.
Benno Quade has been with Software AG for ten years and is very familiar with the company and its transformation strategy. His positions within the company have included Chief Legal Officer, Chief Operating Officer for the go-to-market organization and most recently Chief Customer Success Officer. In the newly created COO position, he will sharpen the focus on process improvement and increasing margins. Responsibility for all project management and operational tasks is thus bundled in the Board of Directors.
Photo: Software AG/Benno Quade
Software AG brought a major investor on board with Silver Lake at the end of 2021. The company put 344 million euros into the software house and announced that it would support the conversion. In this way, the Darmstadt-based company hopes to expand its cloud offering more quickly and, above all, make greater strides in North America. Corporate investments and acquisitions are part of the expansion strategy.
With the appointment of the new board members, Software AG also published its business figures for the second quarter of 2022. Turnover amounted to EUR 219.9 million, which is at the same level as in the same period last year (EUR 218.2 million). Including the acquired software house StreamSets, the Hessians raised 226.9 million euros. The EBIT result of EUR 46.8 million was slightly below last year’s level (EUR 50.1 million).
CEO Brahmawar had to lower the forecast for growth in the digital business to between 12 and 18 percent. Here, bookings in the second quarter were weaker than expected and there are also the first signs that customers are delaying their decisions due to economic uncertainty. Otherwise, the outlook for 2022 and 2023 remained unchanged: the Darmstadt-based company aims to generate a turnover of one billion euros in the coming year – with an operating margin of 25 to 30 percent. (ss)
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