NICE Announces Planned CEO Transition
16 May 2024 - 7:30PM
Business Wire
- CEO Barak Eilam to step down by end of 2024 after more than 10
years at helm
- Company initiates search for successor
NICE (Nasdaq: NICE) today announced a planned leadership
transition. Barak Eilam, Chief Executive Officer, has informed the
Board of Directors of his decision to step down from his position,
effective December 31, 2024. Eilam will remain CEO until the end of
the year, ensuring a smooth transition. He will actively
participate in the search for his successor alongside the Board and
collaborate with the new leader during a transition period.
Furthermore, Eilam will continue to act in a strategic consulting
capacity during the first half of 2025. The Board has initiated a
CEO search to identify the company's next leader in partnership
with a top executive recruiting firm. The search will consider both
internal and external candidates to ensure the best fit for
NICE.
"The Board extends its gratitude for the remarkable achievements
NICE has accomplished under Barak’s ten-year leadership," said
David Kostman, Chairman of the Board at NICE. "The company is well
positioned for the future as a leader in cloud, digital and AI. We
deeply appreciate Barak’s unwavering commitment to NICE and look
forward to continuing our work with him toward executing our 2024
plan, setting the company up for future success, and collaborating
with him throughout the CEO search to ensure a smooth leadership
handover.”
Barak’s leadership has been transformative for NICE. During his
tenure, NICE's visionary strategy propelled the company to
undisputed leadership across its markets. Under Barak's guidance,
the company is now a key player in the enterprise software market
leveraging cloud and AI and is well positioned for ongoing
prosperity. With relentless focus on innovation and strategic
acquisitions, he transformed NICE into a cloud leader, building the
industry's most advanced AI platform. As CEO, Barak has built a
great foundation for the future with a strong leadership team and
orchestrated tremendous shareholder value creation: the total
addressable market expanded fivefold; total revenue tripled; cloud
revenue rapidly grew from near zero to $1.6 billion; and earnings
per share more than tripled.
“Leading NICE for the past decade has been the pinnacle of my
career. It is an honor to work alongside a team of 8,500 talented
and dedicated NICErs around the globe. While my team and NICE’s
mission continues to inspire me daily, after 25 years at NICE and
with the company poised for continued leadership and success, it's
the right time to transition the helm of the company to a new
leader" said Barak Eilam, CEO, NICE.
Mr. Eilam continued, "I remain laser focused to deliver our 2024
plan, support the success of our customers and partners and work
closely with our product teams on our exciting innovations. NICE
has a bright future ahead, and I'm committed to ensuring a seamless
transition.”
About NICE With NICE (Nasdaq: NICE), it’s never been
easier for organizations of all sizes around the globe to create
extraordinary customer experiences while meeting key business
metrics. Featuring the world’s #1 cloud native customer experience
platform, CXone, NICE is a worldwide leader in AI-powered
self-service and agent-assisted CX software for the contact center
– and beyond. Over 25,000 organizations in more than 150 countries,
including over 85 of the Fortune 100 companies, partner with NICE
to transform - and elevate - every customer interaction.
www.nice.com
Trademark Note: NICE and the NICE logo are trademarks or
registered trademarks of NICE Ltd. All other marks are trademarks
of their respective owners. For a full list of NICE’s marks, please
see: www.nice.com/nice-trademarks.
Forward-Looking Statements This press release contains
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Eilam, are based on the
current beliefs, expectations and assumptions of the management of
NICE Ltd. (the “Company”). In some cases, such forward-looking
statements can be identified by terms such as “believe,” “expect,”
“seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,”
“plan,” “estimate,” or similar words. Forward-looking statements
are subject to a number of risks and uncertainties that could cause
the actual results or performance of the Company to differ
materially from those described herein, including but not limited
to the impact of changes in economic and business conditions;
competition; successful execution of the Company’s growth strategy;
success and growth of the Company’s cloud Software-as-a-Service
business; changes in technology and market requirements; decline in
demand for the Company's products; inability to timely develop and
introduce new technologies, products and applications; difficulties
in making additional acquisitions or difficulties or delays in
absorbing and integrating acquired operations, products,
technologies and personnel; loss of market share; an inability to
maintain certain marketing and distribution arrangements; the
Company’s dependency on third-party cloud computing platform
providers, hosting facilities and service partners; cyber security
attacks or other security breaches against the Company; privacy
concerns; changes in currency exchange rates and interest rates,
the effects of additional tax liabilities resulting from our global
operations, the effect of unexpected events or geo-political
conditions, such as the impact of conflicts in the Middle East that
may disrupt our business and the global economy; the effect of
newly enacted or modified laws, regulation or standards on the
Company and our products and various other factors and
uncertainties discussed in our filings with the U.S. Securities and
Exchange Commission (the “SEC”). For a more detailed description of
the risk factors and uncertainties affecting the company, refer to
the Company's reports filed from time to time with the SEC,
including the Company’s Annual Report on Form 20-F. The
forward-looking statements contained in this press release are made
as of the date of this press release, and the Company undertakes no
obligation to update or revise them, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240516949727/en/
Corporate Media Contact Christopher Irwin-Dudek, +1 201
561 4442, ET media@nice.com
Investors Marty Cohen, +1 551 256 5354, ET
ir@nice.com
Omri Arens, +972 3 763 0127, CET ir@nice.com
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