Tracey Newell’s Role Expanded and Vineet Walia Promoted to Executive Vice President
Company Provides Update on Preliminary 2019 Financial Performance as Informatica Enters Next Phase of Growth with More than $1 Billion in Recurring Revenue
Informatica®, the enterprise cloud data management leader, today announced that its Board of Directors has named Amit Walia Chief Executive Officer. Amit succeeds Anil Chakravarthy, who is stepping down from his role as CEO after leading the Company during a period of meaningful transformation and growth to pursue other professional opportunities. The Company also provided an update on expected full year 2019 financial results based on preliminary Q4 2019 results.
Amit, who most recently served as Informatica’s President of Products and Marketing, has been an integral member of Informatica’s leadership team since joining the Company in 2013. During this time, Informatica has undergone a substantial transformation as it has entered new markets, launched Informatica Intelligent Cloud Services and new A.I. driven solutions, deepened its strategic partnerships with ecosystem providers like AWS, Microsoft and GCP, and made its entire portfolio available by subscription. As a result of the Company’s consistent innovation and execution, Informatica has been identified as a leader in all 5 Gartner Magic Quadrants in which it participates and expects record proforma net new bookings performance in Q4 2019 and more than $1 billion in recurring revenue in FY 2019.
Previously, as President of Products and Marketing, Amit was responsible for Informatica’s product strategy, product management, product development, user experience, strategic ecosystems strategy and global marketing function. He previously served as Informatica’s Executive Vice President and Chief Product Officer, where he spearheaded the Company’s innovation journey across all parts of the Enterprise Cloud Data Management market (Data Integration, iPaaS, Data Quality, Data Governance, Mater Data Management, Enterprise Data Catalog, and Data Privacy). Prior to joining Informatica, Amit worked in various leadership positions at Symantec, Intuit, and McKinsey & Company, and also spent the earlier part of his career working for Tata Group and Infosys Technologies in India. In these roles, he led large global organizations focused on growth driven by customer-centric innovation, new market expansion and mergers & acquisitions.
The Company also announced today that Tracey Newell’s role as President, Global Field Operations is being expanded to President, Global Field and Marketing Operations, bringing all of Informatica’s customer facing go-to-market functions under one organization in order to deliver a remarkable end-to-end customer experience. In her expanded role, Tracey will now also be responsible for the company’s brand, digital, field and portfolio marketing initiatives. Prior to joining Informatica in 2018, Tracey served as Executive Vice President of Global Field Operations and Customer Success at Proofpoint and has also has held senior leadership positions at Polycom, Juniper Networks and Cisco. Tracey also served on the Board of Informatica from 2016-2018.
Additionally, Vineet Walia, Informatica’s Senior Vice President and Chief Strategy Officer, has been promoted to Executive Vice President. As Executive Vice President, Vineet will continue to work closely with the Board and leadership team to develop Informatica’s strategy, ensure execution of critical initiatives, and drive value creation. Prior to joining Informatica in 2017, Vineet served as Vice President, Global Sales Strategy, Transformation and Programs at HPE, and Corporate Vice President, Head of Corporate Strategy at Juniper Networks, among other roles. Before Juniper, he served as Senior Principal at Mercer.
Informatica today also provided an update on expected full year 2019 financial results based on preliminary Q4 2019 results. The Company expects approximately $1.3 billion in GAAP revenue for 2019, with approximately 80% – or more than $1 billion – to be recurring revenue on the strength of a greater than 50% compounded annual growth rate for subscription revenue over the last three years, and record proforma net new bookings performance in Q4 2019.
- “I am honored to serve as CEO during this extraordinary era of digital transformation, as Informatica is perfectly positioned to capitalize on this shift and help customers unleash the power of data. We are privileged to have a great customer base, an amazing team of employees across the globe, and a unique leadership position in all the markets where we compete. I look forward to working closely with the Company’s Board and leadership team to continue building upon the exceptional transformation we have executed over the past few years and scale a long-term innovation driven organization. Our best days are truly ahead of us.” said Amit Walia.
- “Since joining Informatica almost seven years ago, Amit has led the Company’s product organization and ecosystem strategy, delivering unique products and solutions to extend Informatica’s leadership in core markets while establishing its leadership in new areas of Enterprise Cloud Data Management,” said Bruce Chizen, Executive Chairman of the Board of Directors at Informatica. “Importantly, Amit is passionate about building people-driven, customer-centric organizations, and I am confident Informatica will continue to thrive under his direction as CEO. On behalf of the entire Board, I want to express our deep appreciation to Anil for his many contributions. We wish him well in his next chapter.”
- “Informatica is on an exciting trajectory, with expanded product capabilities and the right foundational business model to bring its customers the latest innovations in enterprise cloud data management and accelerate their cloud modernization journeys,” highlighted Geoff McKay, Managing Director at Canada Pension Plan Investment Board and Informatica Board member. “Amit has been instrumental to Informatica’s recent success and we look forward to supporting Amit, Tracey, Vineet and the broader management team as they build on this momentum and continue to drive Informatica’s progress and performance.”
- “Informatica is demonstrating impressive growth as it focuses on cloud-first innovation and works with its leading ecosystem partners to empower customers to accelerate their data-driven, A.I. enabled transition to cloud,” commented Brian Ruder, Co-Head of Technology and Partner at Permira and Informatica Board member. “Amit has a strong track record of driving operational and strategic success across leading global organizations, and we’re delighted to have him at the helm for Informatica’s next chapter. We thank Anil for his outstanding leadership during his time as CEO, and believe the Company is incredibly well-positioned as it enters its next phase of growth.”