Teradata Announces CEO Transition
November 07 2019 - 4:10PM
Business Wire
Victor L.
Lund Appointed Interim CEO, Succeeding Oliver
Ratzesberger
Board
Commencing Search for Permanent CEO
Teradata (NYSE: TDC), the cloud-based data analytics company
delivering Pervasive Data Intelligence, today announced that Victor
Lund, the Executive Chairman of the Teradata Board of Directors,
has been appointed Interim President and Chief Executive Officer,
effective immediately. Upon mutual agreement between the Teradata
board and Oliver Ratzesberger, as of November 5, 2019, Mr.
Ratzesberger is no longer serving as President and Chief Executive
Officer and he has resigned from Teradata’s board. Mr. Lund will
continue in his role as Executive Chairman.
Mr. Lund previously served as the President and Chief Executive
Officer of Teradata from May 2016 until his appointment as
Executive Chairman in January 2019. Mr. Lund has been a member of
Teradata’s board since 2007 and was the Chair of the Audit
Committee from 2007 until May 2016.
The Company's Board of Directors has established a CEO Search
Committee to lead the process to identify and select a permanent
Chief Executive Officer. The Search Committee is chaired by Michael
Gianoni, the board’s independent Lead Director. Other committee
members include Daniel Fishback, Joanne Olsen and John Schwarz.
Mr. Lund stated, “Oliver has been a leader and technology
visionary since we began Teradata’s business transformation, and we
thank him for his contributions. Ultimately, the board decided that
now is the right time to identify a new CEO to accelerate the
execution of the transformation, in order to achieve our vision and
growth strategy. The board remains confident that Teradata’s
market-leading position in cloud-based data and analytics, talented
team and strong foundation will drive us forward as we execute our
transformation strategy, continue to innovate, and provide
exceptional value to our customers through the power of data.”
Mr. Gianoni stated, “We are grateful to Vic for taking on the
additional role of Interim CEO. In addition to his many years on
Teradata’s board and as CEO from 2016 to early 2019, Vic is the
ideal leader to oversee the execution of Teradata’s strategy during
the CEO search process.”
2019 Third Quarter Financial Results
In a separate press release issued today, Teradata reported 2019
third quarter financial results. Teradata will host a conference
call and live webcast at 2 p.m. PT today to discuss its financial
results. The live webcast and a replay will be available on the
Teradata website at investor.teradata.com.
About Victor L. Lund
Previously, Mr. Lund served as the Non-Executive Chairman of the
Board of DemandTec, Inc., a publicly-held, on-demand applications
company, from 2006 until 2012, and was a member of its board from
2005 until 2012. Mr. Lund was Non-Executive Chairman of the Board
of Mariner Health Care, Inc., a long-term health care services
company, from 2002 until 2004 and Vice Chairman of Albertson's,
Inc. from 1999 to 2002. Prior to that, he served as Chairman and
Chief Executive Officer of American Stores Company. During his
extended career with American Stores, Mr. Lund also held executive
positions of increasing responsibility leading to Chairman and
Chief Executive Officer, including Chief Financial Officer and
Executive Vice President. Earlier in his career, Mr. Lund was a
practicing certified public accountant. He also serves as a
director of Service Corporation International and a number of
privately-held companies.
About Teradata
Teradata transforms how businesses work and people live through
the power of data. Teradata leverages all of the data, all of the
time, so you can analyze anything, deploy anywhere and deliver
analytics that matter. We call this pervasive data intelligence,
powered by the cloud. And it’s the answer to the complexity, cost
and inadequacy of today’s approach to analytics. Get the answer at
teradata.com.
The Teradata logo is a trademark, and Teradata
is a registered trademark of Teradata Corporation and/or its
affiliates in the U.S. and worldwide.
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version on businesswire.com: https://www.businesswire.com/news/home/20191107006071/en/
Jennifer Donahue 858-485-3029 office
Jennifer.Donahue@Teradata.com
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