Elastic Announces Transition of Chief Revenue Officer
26 Februar 2020 - 10:10PM
Business Wire
Elastic N.V. (NYSE: ESTC) (“Elastic”), the company behind
Elasticsearch and the Elastic Stack, announced today that its Chief
Revenue Officer, Aaron Katz, has transitioned from his current role
into an advisory role to Shay Banon, Elastic’s founder and Chief
Executive Officer. This change is based on mutual agreement and
effective immediately. Mr. Katz is expected to remain in his
advisory role until August 1, 2020. Elastic also announced that it
has commenced a search for his successor.
“Looking at the rich market opportunity ahead of us, I’m excited
to bring in a seasoned leader who has built and seen multi-billion
dollar scale. In the near term, we have a deep bench of seasoned
Sales leaders, led by Justin Hoffman, Senior Vice President of
Sales. Justin has been with Elastic for almost seven years, is a
core member of our executive leadership team and already leads our
sales efforts for all of the Americas and EMEA, so I’m confident in
our team’s ability to manage this transition and do not expect any
near-term disruption,” said Mr. Banon.
“I’d like to thank Aaron for his contributions to Elastic,
helping drive our success in the marketplace so far, and laying the
foundation for future growth,” added Mr. Banon. “We wish him all
the very best in his future endeavors.”
"It has been a privilege leading Elastic's go-to-market efforts
over the past six years. I have never been more encouraged by the
value our solutions offer to our customers, partners, and community
at large,” said Mr. Katz. “I remain committed to ensuring a
successful transition over the next several months."
About Elastic
Elastic is a search company that powers enterprise search,
observability, and security solutions built on one technology stack
that can be deployed anywhere. From finding documents to monitoring
infrastructure to hunting for threats, Elastic makes data usable in
real time and at scale. Founded in 2012, Elastic is a distributed
company with Elasticians around the globe. Learn more at
elastic.co.
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.
Forward-Looking Statements
This press release contains forward-looking statements which
include, but are not limited to, expected financial results for the
fiscal quarter and the fiscal year ending April 30, 2020 and future
fiscal years, potential market opportunities and total addressable
market size and growth, and the impact of the transition of our
chief revenue officer. 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: our future financial performance,
including our expectations regarding our revenue; cost of revenue;
gross profit or gross margin; and operating expenses (including
changes in sales and marketing, research and development and
general and administrative expenses); our ability to achieve, and
maintain, future profitability; our ability to continue to deliver
and improve our offerings and successfully develop new offerings;
customer acceptance and purchase of our existing offerings and new
offerings; our ability to maintain and expand our user and customer
base; the market for our products not continuing to develop;
competition from other products; the impact of foreign currency
exchange rate and interest rate fluctuations on our results; our
business strategy and our plan to build our business; our ability
to effectively manage our growth; the pace of change and innovation
in the markets in which we participate and the competitive nature
of those markets; our international expansion strategy; our service
performance and security, including the resources and costs
required to prevent, detect and remediate potential security
breaches; our operating results and cash flows; our strategy of
acquiring complementary businesses and our ability to successfully
integrate acquired businesses and technologies; our relationships
with third parties, including partners; our ability to protect our
intellectual property rights; our ability to develop our brands;
our ability to attract and retain qualified employees and key
personnel; the impact of expensing stock options and other equity
awards; the sufficiency of our capital resources; our ability to
successfully defend litigation brought against us; our ability to
successfully expand in our existing markets and into new markets;
sufficiency of cash to meet cash needs for at least the next 12
months; our ability to comply with laws and regulations that
currently apply or become applicable to our business both in the
United States and internationally; the future trading prices of our
ordinary shares; the impact of our acquisition of Endgame, Inc. on
our operating margin; the impact of our acquisition of Endgame,
Inc. on Elastic’s future product offerings; and general market,
political, economic and business conditions. 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 Securities and
Exchange Commission (the “SEC”), including our Annual Report on
Form 10-K for the fiscal year ended April 30, 2019 and any
subsequent reports on Form 10-K, Form 10-Q or Form 8-K 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200226005742/en/
Lisa Boughner Elastic Corporate Communications
lisa.boughner@elastic.co
Elastic NV (NYSE:ESTC)
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