Everbridge Announces CEO Transition
December 09 2021 - 4:05PM
Business Wire
Everbridge, Inc. (NASDAQ: EVBG), the global leader in critical
event management (CEM) and national public warning software
solutions, today announced that David Meredith has notified the
Board of Directors of the Company of his intention to resign from
his role as Chief Executive Officer (“CEO”) of the Company and as a
member of the Board of Directors of the Company. The Board of
Directors has accepted Mr. Meredith’s resignation.
Everbridge will immediately establish an Office of the CEO and
begin to transition leadership to long-tenured company executives
Patrick Brickley, Executive Vice President and Chief Financial
Officer, and Vernon Irvin, Executive Vice President and Chief
Revenue Officer. Mr. Brickley and Mr. Irvin will partner as Co-CEOs
to assume strategic and operational control of the business. The
Company has initiated a search for a permanent CEO and will
consider both internal and external candidates.
“The Board of Directors and I are confident that Vernon Irvin
and Patrick Brickley can lead the company forward as Co-CEO's
together and deliver on the company's mission of ‘keeping people
safe and organizations running faster’,” said Jaime Ellertson,
Chairman of Everbridge’s Board of Directors. “We are fortunate to
have two incredibly respected and seasoned executives taking on
this partnership. Both Patrick and Vernon are strong leaders with
deep hands-on operating knowledge and a commitment to the continued
success of Everbridge in the future.”
The Company reiterates its financial guidance for the fourth
quarter and full year 2021, as provided in a press release issued
on November 9, 2021. On a preliminary basis, the Company
anticipates revenue growth of 20% to 23% in 2022, not including the
impact of any potential future acquisitions. Mr. Meredith's
resignation is not related to any matter regarding the Company's
financial condition, reported financial results, internal controls
or disclosure controls and procedures.
About Everbridge
Everbridge, Inc. (NASDAQ: EVBG) is a global software company
that provides enterprise software applications that automate and
accelerate organizations’ operational response to critical events
in order to Keep People Safe and Organizations Running™. During
public safety threats such as active shooter situations, terrorist
attacks or severe weather conditions, as well as critical business
events including IT outages, cyber-attacks or other incidents such
as product recalls or supply-chain interruptions, over 6,000 global
customers rely on the Company’s Critical Event Management Platform
to quickly and reliably aggregate and assess threat data, locate
people at risk and responders able to assist, automate the
execution of pre-defined communications processes through the
secure delivery to over 100 different communication devices, and
track progress on executing response plans. Everbridge serves 8 of
the 10 largest U.S. cities, 9 of the 10 largest U.S.-based
investment banks, 47 of the 50 busiest North American airports, 9
of the 10 largest global consulting firms, 8 of the 10 largest
global automakers, 9 of the 10 largest U.S.-based health care
providers, and 7 of the 10 largest technology companies in the
world. Everbridge is based in Boston with additional offices in 25
cities around the globe. For more information, visit
www.everbridge.com, read the company blog, and follow on Twitter
and Facebook.
Cautionary Language Concerning Forward-Looking
Statements
This press release contains "forward-looking statements" within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding the anticipated opportunity and trends for
growth in our critical communications and enterprise safety
applications and our overall business, our market opportunity, our
expectations regarding sales of our products, our goal to maintain
market leadership and extend the markets in which we compete for
customers, our expected financial results for the fourth quarter of
2021 and the full fiscal year 2021, and our expected results for
the full fiscal year 2022. These forward-looking statements are
made as of the date of this press release and were based on current
expectations, estimates, forecasts and projections as well as the
beliefs and assumptions of management. Words such as "expect,"
"anticipate," "should," "believe," "target," "project," "goals,"
"estimate," "potential," "predict," "may," "will," "could,"
"intend," variations of these terms or the negative of these terms
and similar expressions are intended to identify these
forward-looking statements. Forward-looking statements are subject
to a number of risks and uncertainties, many of which involve
factors or circumstances that are beyond our control. Our actual
results could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including
but not limited to: our ability to successfully transition to new
leadership; the ability of our products and services to perform as
intended and meet our customers’ expectations; our ability to
attract new customers and retain and increase sales to existing
customers; our ability to increase sales of our Mass Notification
application and/or ability to increase sales of our other
applications; our ability to successfully integrate businesses and
assets that we have acquired or may acquire in the future; the
impact of the global COVID-19 pandemic on our operations and those
of our customers and suppliers; developments in the market for
targeted and contextually relevant critical communications or the
associated regulatory environment; our estimates of market
opportunity and forecasts of market growth may prove to be
inaccurate; we have not been profitable on a consistent basis
historically and may not achieve or maintain profitability in the
future; the lengthy and unpredictable sales cycles for new
customers; nature of our business exposes us to inherent liability
risks; our ability to attract, integrate and retain qualified
personnel; our ability to maintain successful relationships with
our channel partners and technology partners; our ability to manage
our growth effectively; our ability to respond to competitive
pressures; potential liability related to privacy and security of
personally identifiable information; our ability to protect our
intellectual property rights, and the other risks detailed in our
risk factors discussed in filings with the U.S. Securities and
Exchange Commission (“SEC”), including but not limited to our
Annual Report on Form 10-K for the year ended December 31, 2020
filed with the SEC on February 26, 2021. The forward-looking
statements included in this press release represent our views as of
the date of this press release. We undertake no intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
These forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release.
All Everbridge products are trademarks of Everbridge, Inc. in
the USA and other countries. All other product or company names
mentioned are the property of their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20211209005992/en/
Investor Contact: Garo Toomajanian ICR for Everbridge
ir@everbridge.com 818-230-9712
Media Contact: Jeff Young Everbridge
jeff.young@everbridge.com 781-859-4116
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