New CEO for Veeam in board shake-up
Co-CEO and founder Andrei Baronov promoted to take sole command of Veeam
Veeam has announced a new CEO in a board-level restructuring.
Company co-founder Andrei Baronov has been promoted to Chief Executive Officer (CEO), replacing Peter McKay.
Baronov was co-CEO with McKay since 2016, but will now become the sole head of the company. McKay, who was president and board member as well as co-CEO will leave the company.
In addition to Co-Founder Mr. Baronov's promotion, Ratmir Timashev, Veeam's other Co-Founder, becomes Executive Vice President (EVP), WW Sales and Marketing, with William Largent assuming the role of Executive Vice President (EVP), Operations. Both Timashev and Largent will report to the CEO.
These executive changes add extra focus and strength to help the company continue its rapid expansion into the Enterprise and Cloud segments and enable it to accelerate growth across all markets.
"I want to thank Peter McKay for his dedication and energy, and we all wish him the best in his new endeavours," said Andrei Baronov, Co-Founder and CEO at Veeam. "He leaves Veeam with a deep bench strength of experienced management leaders who will carry our vision and strategy forward. The changes we have made to the executive team will ensure that Veeam continues our aggressive growth, and we can deliver the exceptional customer experience we are renowned for."
Veeam recently reported its 41st consecutive quarter of double-digit growth, experiencing a 20% year-over-year (YoY) increase in bookings and more than 26% YoY growth in its cloud business. Moreover, traction with its alliance partners outperformed all expectations, with Cisco, HPE, Lenovo and NetApp helping drive a 128% YoY increase in bookings via unique resale agreements. The executive changes will enable Veeam to continue its growth trajectory to be the next billion-dollar software company.
"Veeam is on a rapid growth trajectory and our vision and strategy to be the most trusted Intelligent Data Management company is seeing us secure more than 4,000 new customers a month, driving sequential double-digit bookings growth," added Ratmir Timashev, Co-Founder and Executive Vice President (EVP), WW Sales and Marketing at Veeam. "As testament to the growth we are experiencing, according to the most recent IDC Software Tracker for Data Replication & Protection 2018H1, Veeam is #4 in market share after Dell, IBM and Veritas, and ahead of Commvault; we are by far the fastest growing vendor with 24.7% YOY growth, while others are declining. I know the entire Veeam team is committed to accelerate our growth even further and we are well on track to deliver another record bookings year."