New Relic Announces Chief Financial Officer Transition
May 12 2022 - 4:10PM
Business Wire
Mark Sachleben to Retire; New Relic Initiates
Search for Successor
Company Separately Reports Fourth Quarter
Fiscal Year 2022 Financial Results
New Relic (NYSE: NEWR), the observability company, announced
that Mark Sachleben has decided to retire from his role as Chief
Financial Officer. While the company engages in a comprehensive
search for his successor, Sachleben will remain in his role until
his successor is named and the company has completed the successful
transition.
“On behalf of the Board and management team, I thank Mark for
his leadership, commitment and contributions to New Relic since its
founding in 2008,” said New Relic CEO Bill Staples. “His dedication
and intimate knowledge of the business has been central to our
ongoing business transformation, including strengthening our
balance sheet, accelerating revenue growth, and implementing cost
savings measures. We wish him all the best in his future endeavors.
Looking ahead, we are committed to conducting an efficient but
comprehensive search to identify the right financial leader for New
Relic’s next phase of growth.”
Sachleben said, “I joined New Relic in 2008 to help build and
scale the organization so that millions of developers and engineers
could build better software, and faster. After 14 years, I have
decided now is the right time for me to retire from New Relic. It
has been an honor and a privilege to lead such a dynamic and
visionary organization. I am proud to have played a role in helping
New Relic grow and deliver on its mission, and I remain committed
to ensuring a smooth transition.”
Fourth Quarter and Full Fiscal Year 2022 Financial
Results
In a separate press release, New Relic today reported its
financial results for the fourth quarter and full fiscal year ended
March 31, 2022. In conjunction, the company has posted an investor
letter and will conduct a conference call beginning at 2 p.m.
Pacific Time (5 p.m. Eastern Time) to discuss the results and
respond to questions. The investor letter and conference call can
be accessed through the company’s website at http://ir.newrelic.com under the investor
relations section.
Analyst Day and FutureStack 2022
New Relic will continue to hold its previously announced Analyst
Day on Wednesday, May 18, in conjunction with FutureStack 2022, the
company’s annual customer and developer conference; however, in
light of the CFO transition underway, the company does not intend
to provide an update regarding its long-term business model. For
additional details and to register for the in-person Analyst Day
event, email AnalystDay@newrelic.com.
About New Relic
As a leader in observability, New Relic empowers engineers with
a data-driven approach to planning, building, deploying, and
running great software. New Relic delivers the only unified data
platform that empowers engineers to get all telemetry—metrics,
events, logs, and traces—paired with powerful full stack analysis
tools to help engineers do their best work with data, not opinions.
Delivered through the industry’s first usage-based consumption
pricing that’s intuitive and predictable, New Relic gives engineers
more value for the money by helping improve planning cycle times,
change failure rates, release frequency, and mean time to
resolution. This helps the world’s leading brands including
American Red Cross, Australia Post, Banco Inter, Chegg, Gojek,
Signify Health, TopGolf, World Fuel Services (WFS), and Zalora
improve uptime, reliability, and operational efficiency to deliver
exceptional customer experiences that fuel innovation and growth.
www.newrelic.com.
Forward-Looking Statements
This press release contains “forward-looking” statements, as
that term is defined under the federal securities laws, including
but not limited to statements regarding the retirement and
transition of Mr. Sachleben and any anticipated effects on the
Company’s business, market position and growth, and New Relic’s
plan for the Analyst Day and FutureStack 2022. The achievement or
success of the matters covered by such forward-looking statements
are based on New Relic’s current assumptions, expectations, and
beliefs and are subject to substantial risks, uncertainties,
assumptions, and changes in circumstances that may cause New
Relic’s actual results, performance, or achievements to differ
materially from those expressed or implied in any forward-looking
statement. Further information on factors that could affect New
Relic’s financial and other results and the forward-looking
statements in this press release is included in the filings New
Relic makes with the SEC from time to time, including in New
Relic’s most recent Form 10-Q, particularly under the captions
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations.” Copies of these
documents may be obtained by visiting New Relic’s Investor
Relations website at http://ir.newrelic.com or the SEC's website at
www.sec.gov. New Relic assumes no obligation and does not intend to
update these forward-looking statements, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220512005929/en/
Kerry Baker New Relic, Inc. PR@newrelic.com
Peter Goldmacher New Relic, Inc. 503-336-9280
IR@newrelic.com
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