Software company, Splunk, has appointed Doug Merritt, who previously served as the company’s senior vice-president of field operations, as its president and CEO. Merritt will also sit on the board of directors.
Merritt replaces Godfrey Sullivan, who has retired from his position. However, he will remain on the board and serve as non-executive board chair. The company said, in a statement, that Sullivan will continue to work closely with the board and with Merritt to ensure a smooth transition and implementation of the company’s long-term strategy.
Splunk lead independent director, John Connors, said since joining Splunk in 2008, Sullivan has been an outstanding and inspirational leader, growing the company from 750 customers and $18 million of annual revenue to more than 10,000 customers and trailing 12 month revenues of nearly $600 million.
“Godfrey has led Splunk to become a market leader in operational intelligence software, both in the Cloud and on premises. He has also built a deep and talented management team that is well positioned, with Doug’s leadership, to continue Splunk’s momentum, disruptive innovation and success for many years to come,” he said.
Connors added that Merritt brings enormous management, sales, product and marketing skills to his new role.
Merritt served as senior vice-president of field operations at Splunk since 2014. Prior to joining Splunk, he served as senior vice-president of products and solutions marketing at Cisco Systems from 2012 to 2014.
Before that, he served as CEO of Baynote for two years. Previously, Merritt served in a number of executive roles and as a member of the extended executive board at SAP from 2005 to 2011. From 2001 to 2004, Merritt served as group vice-president and general manager of PeopleSoft.
He also co-founded and served as CEO of Icarian (since acquired by Workstream) from 1996 to 2001.
“I am extremely honoured and thrilled to become president and CEO of Splunk - one of the most disruptive, innovative and successful companies in technology.
“We will continue our laser focus on becoming the data fabric for businesses, government agencies, universities, and organisations. Our innovative products, outstanding people, and more than 10,000 customers form a solid foundation upon which to build our future growth and success,” Merritt said.In addition, the company has also revealed its fiscal third quarter 2016 financial results. Its total revenues were $US174.4 million, up 50 per cent year-over-year while its GAAP operating loss was $US72.3 million, with a GAAP operating margin of negative 41.5 per cent.
For its fiscal fourth quarter 2016 (ending January 31, 2016), the company is expecting total revenues to be between $US200 million and $US202 million. Non-GAAP operating margin is expected to be between five and six per cent.
“With the outstanding financial results that we are reporting today and the outlook for the rest of the year and FY17, I have concluded that now is the right time for me to make the logical progression to non-executive chair,” Sullivan added.