Elastic Appoints Sohaib Abbasi to Board of Directors
Former Informatica CEO and Oracle Executive
Will Bring 30+ Years of Industry Leadership to the Elastic
Elastic (NYSE: ESTC) (“Elastic”), the company behind
Elasticsearch, today announced that it has appointed Sohaib Abbasi
to its Board of Directors. The appointment comes as the company
further focuses on driving durable, profitable growth, widening its
competitive moat, and fueling cloud growth.
Abbasi will bring more than 30 years of enterprise technology
and business transformation experience to the Elastic Board of
Directors. From 2004 to 2015, he led Informatica as its President
and Chief Executive Officer and as its Chairman from 2005 to 2016.
From 1982 to 2003, he served in various executive roles at Oracle.
Currently, Abbasi serves as Chairman of the Board of Forecast.app.
Abbasi previously served on the Boards of Red Hat, McAfee, and New
Relic, among others.
Abbasi currently serves as a Senior Advisor at TPG, Balderton
Capital UK, and Royal London Technology Group. In addition, he is a
Council Member of the Freeman Spogli Institute for International
Studies at Stanford University.
“For years, I have admired Elastic and its well-differentiated
technology that has been adopted by a thriving community of
developers, customers and partners,” said Abbasi. “I’m looking
forward to working with the leadership team to pursue Elastic’s
next phase of growth. With the power of the Elastic Search platform
and the flexibility of Elastic Cloud, customers get the best of
both worlds – cost-effectively leveraging both on-premise computing
and cloud computing.”
“Sohaib is an incredible leader who brings proven expertise in
guiding companies to become industry-leading powerhouses,” said Ash
Kulkarni, CEO, Elastic. “He was an early champion of the cloud and
knew from day one that it would enable organizations to leverage
best-in-class, cloud-based offerings while benefiting from
economies of scale. Sohaib’s experience scaling organizations to
become multi-billion dollar companies will be instrumental as we
look to accelerate our cloud business and drive profitable, durable
Pursuant to Dutch law, the Board of Directors has also nominated
Mr. Abbasi for appointment to the Board of Directors at the annual
general shareholder meeting in October 2022 (the “2022 AGM”). Mr.
Abbasi will serve as Vice-Chairman of the Board and a member of the
Company’s Compensation Committee.
Elastic (NYSE: ESTC) is a leading platform for search-powered
solutions. We help organizations, their employees, and their
customers accelerate the results that matter. With solutions in
Enterprise Search, Observability, and Security, we enhance customer
and employee search experiences, keep mission-critical applications
running smoothly, and protect against cyber threats. Delivered
wherever data lives, in one cloud, across multiple clouds, or
on-premise, Elastic enables 18,000+ customers and more than half of
the Fortune 500, to achieve new levels of success at scale and on a
single platform. Learn more at elastic.co.
Important Additional Information and Where You Can Find
The Company plans to file with the Securities and Exchange
Commission (the “SEC”) and furnish to its shareholders, a proxy
statement (the “Proxy Statement”) in connection with the election
of Sohaib Abbasi to the Company’s Board of Directors (the “Director
Election”), along with other matters, to be voted upon at the 2022
AGM. Anyone who is a shareholder of record or beneficial owner of
the Company’s shares as of the record date will be entitled to vote
their shares at the 2022 AGM.
This communication is not a substitute for the Proxy Statement
or any other document that the Company may file with the SEC or
send to its shareholders. SHAREHOLDERS OF THE COMPANY ARE URGED TO
READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT THE
COMPANY HAS FILED OR MAY FILE WITH THE SEC WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
COMPANY’S ANNUAL MEETING, INCLUDING THE DIRECTOR ELECTION.
Shareholders will be able to obtain free copies of the Proxy
Statement (when it becomes available), any solicitation materials
and any other documents filed with the SEC by the Company through
the website maintained by the SEC at www.sec.gov or by contacting
the Company’s Investor Relations department at email@example.com.
Participants in the Solicitation
The directors and executive officers of the Company may be
deemed to be participants in the solicitation of proxies from the
shareholders of the Company in connection with the Director
Election. Information regarding the interests of participants in
the solicitation of proxies in respect of the 2022 AGM will be
included in the Proxy Statement.
Certain statements herein are forward-looking statements that
are subject to risks and uncertainties, which include but are not
limited to, statements regarding the nomination and appointment of
Mr. Abbasi, our market opportunity, assessments of the strength of
our solutions and products and our future growth and profitability.
These forward-looking statements are subject to the safe harbor
provisions under the Private Securities Litigation Reform Act of
1995. Our expectations and beliefs regarding these matters may not
materialize. Actual outcomes and results may differ materially from
those contemplated by these forward-looking statements as a result
of uncertainties, risks, and changes in circumstances, including
but not limited to risks and uncertainties related to the future
conduct and growth of Elastic’s business and the markets in which
Elastic operates. Additional risks and uncertainties that could
cause actual outcomes and results to differ materially from those
contemplated by the forward-looking statements are included under
the caption "Risk Factors" and elsewhere in our most recent filings
with the SEC, including our Annual Report on Form 10-K for the
fiscal year ended April 30, 2022 and any subsequent reports filed
with the SEC. SEC filings are available on the Investor Relations
section of Elastic's website at ir.elastic.co and the SEC's website
at www.sec.gov. Elastic assumes no obligation to, and does not
currently intend to, update any such forward-looking statements
after the date of this release, except as required by law.
Elastic and associated marks are trademarks or registered
trademarks of Elastic N.V. and its subsidiaries. All other company
and product names may be trademarks of their respective owners.
version on businesswire.com: https://www.businesswire.com/news/home/20220707005773/en/
Elastic Public Relations PR-Team@elastic.co
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