Appian Announces Planned Retirement of CFO, Mark Lynch, and Reaffirms Guidance for Q4 and Full Year 2021
December 03 2021 - 9:15AM
Appian (NASDAQ: APPN), today announced that Mark Lynch intends to
retire from his role as Chief Financial Officer effective March 31,
2022. Mr. Lynch will remain in his current position through March
31, 2022, to assist with the filing and certification of the
Company’s annual report on Form 10-K, and to support with the
transition of his responsibilities to his successor, once named.
“Mark has been Appian's CFO for half the
lifetime of the Company. He's a tremendous executive and a good
friend. He's earned the trust and confidence of our employees and
our investors. We appreciate his wisdom, professionalism, and sense
of humor -- and we wish him well in his retirement,” said Matt
Calkins, Appian’s Chairman and CEO.
Mr. Lynch joined Appian as CFO in 2009 and has
served in that capacity since. Upon his announcement, Mr. Lynch
stated, “I’ve been honored to serve as Appian’s CFO over the past
thirteen years. I’m proud of all our accomplishments over these
years, including our 2017 IPO and our consistent results quarter
after quarter as a public company. One of the reasons I can retire
confidently is knowing that the team we’ve built at Appian is
incredibly well positioned to continue this success into the
future.”
The Company has initiated an executive search to
fill the Chief Financial Officer position. In addition, Appian
announced that it has promoted and designated Mark Matheos, Senior
Vice President, Global Controller to Chief Accounting Officer
effective December 31, 2021.
Appian also today is reaffirming its guidance
for the fourth quarter and full year ending December 31, 2021,
previously provided in its Q3 earnings release and conference call
on November 4, 2021.
About AppianAppian helps
organizations build apps and workflows rapidly, with a low-code
platform. Combining people, technologies, and data in a single
workflow, Appian can help companies maximize their resources and
improve business results. Many of the world’s largest organizations
use Appian applications to improve customer experience, achieve
operational excellence, and simplify global risk management and
compliance. For more information, visit www.appian.com.
Forward-Looking Statements
This press release includes forward-looking statements. All
statements contained in this press release other than statements of
historical facts, including statements regarding Appian’s future
financial and business performance for the fourth quarter and full
year ending December 31, 2021. The words "anticipate,”" believe,"
"continue," "estimate," "expect," "intend," "may," "will," and
similar expressions are intended to identify forward-looking
statements. Appian has based these forward-looking statements on
its current expectations and projections about future events and
financial trends that Appian believes may affect its financial
condition, results of operations, business strategy, short-term and
long-term business operations and objectives, and financial needs.
These forward-looking statements are subject to a number of risks
and uncertainties, including the risks and uncertainties associated
with Appian’s ability to grow its business and manage its growth,
Appian’s ability to sustain its revenue growth rate, continued
market acceptance of Appian’s platform and adoption of low-code
solutions to drive digital transformation, the fluctuation of
Appian’s operating results due to the length and variability of its
sales cycle, competition in the markets in which Appian operates,
risks and uncertainties associated with the composition and
concentration of Appian’s customer base and their demand for its
platform and satisfaction with the services provided by Appian, the
potential fluctuation of Appian’s future quarterly results of
operations, Appian’s ability to shift its revenue towards
subscriptions and away from professional services, Appian’s ability
to operate in compliance with applicable laws and regulations,
Appian’s strategic relationships with third parties and use of
third-party licensed software and its platform’s compatibility with
third-party applications, the timing of Appian’s recognition of
subscriptions revenue which may delay the effect of near term
changes in sales on its operating results, and the additional risks
and uncertainties set forth in the "Risk Factors" section of
Appian’s Annual Report on Form 10-K for the year ended December 31,
2020 filed with the Securities and Exchange Commission on February
18, 2021 and other reports that Appian has filed with the
Securities and Exchange Commission. Moreover, Appian operates in a
very competitive and rapidly changing environment. New risks emerge
from time to time. It is not possible for Appian’s management to
predict all risks, nor can Appian assess the impact of all factors
on its business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements Appian may make.
In light of these risks, uncertainties, and assumptions, Appian
cannot guarantee future results, levels of activity, performance,
achievements, or events and circumstances reflected in the
forward-looking statements will occur. Appian is under no duty to
update any of these forward-looking statements after the date of
this press release to conform these statements to actual results or
revised expectations, except as required by law.
Investor Contact
Srinivas Anantha, CFA703-442-8844investors@appian.com
Media Contact
Ben Farrell703-442-1067ben.farrell@appian.com
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