Brightcove Announces Executive Leadership Transition
July 26 2017 - 4:05PM
Business Wire
Brightcove Inc. (Nasdaq: BCOV), the leading provider of
cloud services for video, today announced that its Board of
Directors (the “Board”) has appointed Andrew Feinberg, currently
President and Chief Operating Officer, as acting Chief Executive
Officer, effective immediately. Mr. Feinberg succeeds David
Mendels, who reached a mutual agreement with the Board to resign as
CEO and as a Director of the Company.
Gary Haroian, Chairman of the Board, stated, “On behalf of the
Board, I look forward to working alongside Andy, a proven leader
who can immediately step into this role and ensure a smooth
transition for our customers, employees and other stakeholders.”
Mr. Haroian continued, “We are grateful to David Mendels for his
dedication and commitment over the last 7 years and for his
leadership in creating a world-class product and organization.
Under David’s leadership, the company has created the industry’s
leading online video platform and, along with a world-class roster
of flagship customers and talented employees, provides a solid
foundation to capitalize on the large and growing opportunities in
our markets. We wish David all the best in the years to come.”
"It has been an incredible honor to have led Brightcove for the
last 4 years as CEO, and I am confident in its future," said
Mendels. “I am especially proud of the team we have created that
makes this company such a great place to work. We have accomplished
a tremendous amount, and I could not be more confident in the
Company’s future under Andy and the team going forward.”
Mr. Feinberg joined Brightcove in 2005 and served in multiple
executive roles prior to being named President and COO last year.
Previously, Feinberg launched and has managed the Company’s
successful Japan and Asia Pacific businesses from their inception.
Feinberg stated, “We are grateful to David for his many
contributions over the years and it has been a privilege to work
alongside of him. I am incredibly excited about our position in the
market today and the opportunities that lie ahead of us. Given our
great products and services, our unmatched customer base, and our
incredible team, I am confident in our long-term ability to drive
growth and shareholder value.”
The Board has appointed a special committee to identify and
recommend candidates for the role of permanent CEO. The search will
consider both internal candidates and external candidates with the
support of an executive search firm.
About BrightcoveBrightcove Inc. (Nasdaq:BCOV) is the
leading global provider of powerful cloud solutions for delivering
and monetizing video across connected devices. The company offers a
full suite of products and services that reduce the cost and
complexity associated with publishing, distributing, measuring and
monetizing video across devices. Brightcove has thousands of
customers in over 70 countries that rely on the company's cloud
solutions to successfully publish high-quality video experiences to
audiences everywhere. To learn more, visit www.brightcove.com.
Forward-Looking StatementsThis press release includes
certain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including our
position to execute on our growth strategy, our ability to expand
our leadership position and execute our CEO transition and market
opportunity. These forward-looking statements include, but are not
limited to, plans, objectives, expectations and intentions and
other statements contained in this press release that are not
historical facts and statements identified by words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates" or words of similar meaning. These forward-looking
statements reflect our current views about our plans, intentions,
expectations, strategies and prospects, which are based on the
information currently available to us and on assumptions we have
made. Although we believe that our plans, intentions, expectations,
strategies and prospects as reflected in or suggested by those
forward-looking statements are reasonable, we can give no assurance
that the plans, intentions, expectations or strategies will be
attained or achieved. Furthermore, actual results may differ
materially from those described in the forward-looking statements
and will be affected by a variety of risks and factors that are
beyond our control including, without limitation: our history of
losses; our limited operating history; expectations regarding the
widespread adoption of customer demand for our products; the
effects of increased competition and commoditization of services we
offer, including data delivery and storage; keeping up with the
rapid technological change required to remain competitive in our
industry; our ability to retain existing customers; our ability to
successfully recruit additional highly-qualified personnel and
execute our CEO transition; the price volatility of our common
stock; and other risks set forth under the caption "Risk Factors"
in our most recently filed Annual Report on Form 10-K, as updated
by our subsequently filed Quarterly Reports on Form 10-Q and our
other SEC filings. We assume no obligation to update any
forward-looking statements contained in this document as a result
of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170726006156/en/
Investor Contact:ICR for BrightcoveBrian Denyeau,
646-277-1251brian.denyeau@icrinc.comorMedia
Contact:Brightcove Inc.Phil LeClare,
617-674-6510pleclare@brightcove.com
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