Guidewire Software, Inc. (NYSE: GWRE) today announced the appointment of Mike Rosenbaum, former EVP Product at Salesforce, as Chief Executive Officer and to the Board of Directors. Marcus Ryu has transitioned to become Chairman of Guidewire’s Board of Directors. Former Chairman, Peter Gassner, will continue to serve as an independent director.
Since joining Salesforce more than a decade ago, Mr. Rosenbaum has held several leadership positions and driven many of Salesforce’s most notable product achievements. Most recently, he served as EVP Product, with responsibility for customer success, vision, and product development for the world’s #1 CRM platform. He was appointed by Guidewire’s Board of Directors after an extensive selection process. Mr. Rosenbaum’s priorities will include building upon Guidewire’s position as the leading software provider to the global P&C industry, ensuring the success of the Guidewire customer community, and further advancing Guidewire’s cloud offerings.
“Guidewire is building on its market leadership position in mission-critical applications for P&C insurers to now deliver the leading cloud-based platform for the P&C industry. Mike’s experience in leading product development and go-to-market strategy at the world’s leading cloud enterprise software company make him the ideal leader to accelerate our progress,” said Mr. Ryu. “In addition to his leadership credentials, I am gratified that Mike so clearly evinces our values of integrity, rationality, and collegiality. My own journey with Guidewire continues in a new role, and I am eager to support him and the Guidewire team in the service of our customers for years to come.”
“I am honored to have the opportunity to serve as Guidewire’s CEO,” said Mr. Rosenbaum. “I applaud what the company has achieved and deeply appreciate its values and focused commitment to the P&C insurance industry. I’m excited for the opportunity to work with Marcus and the entire team and to play my part in the company’s future success.”
“We thank Marcus for co-founding and serving Guidewire since 2001 and welcome him into his new role as Chairman,” said Peter Gassner, Guidewire director. “We’re very excited to have Mike on board as CEO. His leadership and cloud experience will be instrumental as we look toward our next chapter of growth.”
Guidewire is still early in its quarter close process and, based on preliminary data, affirms guidance for total revenue, as provided in its earnings release on June 4, 2019, a copy of which can be found on its investor relations website at http://ir.guidewire.com. Guidewire also reports that momentum continues to grow for Guidewire Cloud, with six new deals of InsuranceSuite via Guidewire Cloud in Q4 and a total of nine for the fiscal year.
Conference Call
Guidewire will hold a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) today to review and discuss this executive transition. A recorded version of this webcast will be available two hours after the call and accessible at http://ir.guidewire.com.
What: Guidewire Management Conference Call When: Monday, August 5, 2019 Time: 2:00 p.m. PT (5:00 p.m. ET) Live Call: (877) 705-6003, Domestic (201) 493-6725, International Replay: (844) 512-2921, Passcode 13693204, Domestic (412) 317-6671, Passcode 13693204, International Webcast: http://ir.guidewire.com/ (live and replay) The webcast will be archived on Guidewire’s website for a period of three months.