Brightcove Appoints Jeff Ray CEO
April 11 2018 - 4:05PM
Business Wire
Enterprise Software Veteran Tapped to Lead
Cloud Video Market Leader
Brightcove Inc. (Nasdaq: BCOV), the leading provider of cloud
services for video, announced today that its Board of Directors
(the “Board”) has appointed Hugh Jefferson (Jeff) Ray III to serve
as the Company’s next Chief Executive Officer, effective
immediately.
Mr. Ray succeeds Acting CEO Andy Feinberg, who has held the
executive position since 2017, while a search was undertaken for a
permanent replacement. Mr. Feinberg will resume his role as the
Company’s President and COO.
“The Board was impressed with Jeff’s decades-long track record
of accomplishments as a CEO and senior executive. That, combined
with his extensive technology leadership experience made him the
ideal candidate to serve as Brightcove’s CEO,” said Gary Haroian,
Chairman of the Board. “Time and time again, Jeff has demonstrated
an ability to enhance go-to-market strategies, scale enterprises
and expand business opportunities at global technology companies.
Jeff’s deep operational and enterprise sales experience will be
instrumental in positioning Brightcove for improved market share
and long-term, profitable growth.”
Commenting on his appointment, Mr. Ray stated, “I am incredibly
optimistic about the opportunity in front of Brightcove. Internet
video traffic will grow fourfold from 2016 to 2021, reaching 82% of
all global consumer internet traffic. This explosion in video
consumption is creating tremendous opportunities – and challenges –
for companies around the world. More and more of these
organizations are turning to Brightcove for innovative technology,
deep video expertise, and our obsession with customer success to
realize these opportunities. The Company’s market leading portfolio
of video solutions, blue chip customer base, and exceptional
workforce provide a solid foundation upon which to move forward.
I'm excited to work with the team to build on the strong market
momentum they have already created.”
Mr. Haroian continued, “On behalf of the entire Board, I want to
thank Andy Feinberg for the leadership and expertise he displayed
during his role as Acting CEO over the past nine months. Against
the backdrop of his proven leadership and the significant
contributions he has made at Brightcove over the past 13 years, his
success in this position comes as no surprise.”
About JeffJeff Ray has
excelled in executive leadership roles at multiple enterprise
technology companies of scale, including Ellucian, Ventyx (acquired
by ABB), DS SolidWorks, Progress Software, and Compuware. At
Ellucian, Jeff successfully transitioned the business from a
combination of multiple premise-based software companies to a
cloud-based SaaS leader of solutions designed to enable colleges
and universities do a better job of helping their students succeed.
At SolidWorks, he grew revenues by 300%, expanded margins by 50%,
and tripled the installed user base. While he was at Progress
Software, the business grew 20% each year and the share price more
than doubled. At Ventyx, Jeff ran operations across 80 countries
and 2,500 employees, growing annual revenues to over $520m. And at
IBM, where he started after graduating from Texas A&M
University, Jeff quickly rose through the organization, holding
numerous leadership positions.
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 may include forward-looking
statements regarding anticipated objectives, growth and/or expected
product and service developments or enhancements. Such
forward-looking statements may be identified by the use of the
following words (among others): "believes," "expects," "may,"
"will," "plan," "should" or "anticipates," or comparable words and
their negatives. These forward-looking statements are not
guarantees but are subject to risks and uncertainties that could
cause actual results to differ materially from the expectations
contained in these statements. For a discussion of such risks and
uncertainties, see "Risk Factors" in the Company's filings with the
Securities and Exchange Commission, including its most recent
annual report on Form 10-K. Brightcove assumes no obligation to
update any forward-looking statements contained in this press
release in the event of changing circumstances or otherwise, and
such statements are current only as of the date they are made.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180411006202/en/
Investor Contact:ICR for BrightcoveBrian Denyeau,
646-277-1251brian.denyeau@icrinc.comorMedia
Contact:BrightcoveNeil Lieberman,
617-510-6346nlieberman@brightcove.com
Brightcove (NASDAQ:BCOV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brightcove (NASDAQ:BCOV)
Historical Stock Chart
From Jul 2023 to Jul 2024