REDWOOD CITY, Calif.--(BUSINESS WIRE)--
Model N, Inc. (NYSE: MODN), the leading provider of cloud-based Revenue
Management solutions to life science, technology and manufacturing
companies, today announced that effective February 21, 2016, Founder and
current Chairman and Chief Executive Officer, Zack Rinat, will assume
the newly-created role of Executive Chairman of the company. Edward
Sander will assume the role of Chief Executive Officer and will join the
company’s Board of Directors.
In a separate release, the company also announced strong results for the
first quarter of fiscal year 2016 ended December 31, 2015. The company
will be hosting a conference call at 2pm Pacific Time today to discuss
the financial results and the appointment of Mr. Sander.
“Zack Rinat has demonstrated exemplary leadership as Model N’s CEO for
the past 16 years. Under his stewardship, the company has pioneered the
market for Revenue Management partnering with a blue-chip customer
base,” said Charles Robel, Model N’s Lead Independent Director. “The
vision he set will continue with his contributions as Executive
Chairman.”
Edward Sander was most recently Global Vice President and General
Manager at NICE Systems. Mr. Sander brings a decade of experience
running high growth, global enterprise software organizations. As
General Manager of the company’s NICE Actimize Anti-Money Laundering
line of business, Mr. Sander oversaw product creation, solution
delivery, go-to-market planning, and client relationship management
activities. Mr. Sander has expertise in portfolio management and new
product development across analytics, audit-compliance, business process
management, and customer relationship management solutions for the
banking, insurance, energy, and life science markets. Prior to joining
NICE Systems, he held leadership positions at other leading enterprise
software companies including IntraLinks and SAP.
“At this juncture in the Model N journey with strong momentum in the
transition to the SaaS business model, the board was in full support of
Zack’s decision to transition the leadership of the company,” said Mark
Leslie, member of the Model N Board of Directors. “After an extensive
search, we are thrilled that Edward Sander will become our new CEO.
Edward has the experience, skills, and proven track record to take Model
N to new heights in the years ahead.”
“I am excited to join Model N as CEO because of the tremendous
opportunity to become a strategic partner to enterprises in their
mission to grow their revenues. Revenue Management is increasingly
recognized as the catalyst to turn customer relationships into revenue,”
said Edward Sander, Model N’s incoming Chief Executive Officer. “Zack
has created a company with staying power, a customer-centric culture
with DARE core values, and a blue-chip customer base. These assets are
strong stepping stones to accelerate momentum and scale the company to
bring the power of CRM2 to fruition. I am fortunate to have
the opportunity to lead the Model N team to the next chapter.”
“As a founder of Model N, I am responsible to ensure the long-term
success of our customers, employees, partners, shareholders and
ultimately Model N. I am personally gratified to have attracted an
executive of Ed’s caliber to be our CEO,” said Zack Rinat, Founder and
current Chairman and Chief Executive Officer of Model N. “I am very
proud of both our customers’ and our own success. This is our time to
unleash the power of Revenue Management to the broader market. Edward is
bringing additional executive leadership and deep scalability know-how
to Model N. I will remain 100% dedicated to Model N and to supporting Ed
in my capacity as Executive Chairman focused on board development,
strategy and industry awareness of the power of revenue management. I am
delighted to welcome Ed to the company, and I look forward to working
closely with him to ensure continuity over the coming months and years.”
About Model N
Model N is the leader in Revenue Management Cloud solutions for life
science, technology and manufacturing companies. Driving mission
critical business processes such as configure, price and quote (CPQ),
contract management, rebates and regulatory compliance, Model N Cloud
solutions transform the revenue lifecycle from a series of disjointed
operations into a strategic end-to-end process. With deep industry
expertise, Model N supports the unique business needs of the world’s
leading brands in life science, technology and manufacturing across more
than 100 countries.
Model N is a trusted partner to some of the world’s largest brands,
including Johnson & Johnson, AstraZeneca, Boston Scientific, Novartis,
Ortho Clinical Diagnostics, Atmel, Fairchild and Marvell. Model N trades
on the New York Stock Exchange under the symbol MODN.
Model N® is the registered trademark of Model N, Inc. Any
other company names mentioned are the property of their respective
owners and are mentioned for identification purposes only.
Quarterly Results Conference Call
Model N will host a conference call today at 2:00 PM Pacific Time (5:00
PM Eastern Time) to review the company’s financial results for the first
quarter of fiscal year 2016, which ended December 31, 2015. To access
the call, please dial (877) 705-6003 in the U.S. or (201) 493-6725
internationally. Passcode is 13628027. A live webcast of the conference
will be accessible from Model N’s website at: http://investor.modeln.com.
Following the completion of the call, a recording will be available for
one year for replay at: http://investor.modeln.com
and a telephone replay will be available through 11:59 p.m. ET on
February 15, 2016 by dialing (877) 870-5176 in the U.S. or (858)
384-5517 internationally with recording access code 13628027.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160208006205/en/
Investor Relations Contact:
ICR for Model N
Sheila
Ennis, 650-610-4998
investorrelations@modeln.com
or
Media
Contact:
The Hoffman Agency
Jacqueline Velasco,
408-975-3012
jvelasco@hoffman.com
Source: Model N, Inc.