Tracey Newell’s Role Expanded and Vineet Walia Promoted to Executive Vice President Company Provides Update on Preliminary 2019 Financial Performance as Informatica Enters Next Phase of Growth with More than $1 Billion in Recurring Revenue
Informatica®, the enterprise cloud data management leader, announced that its Board of Directors has named Amit Walia Chief Executive Officer. Amit succeeds Anil Chakravarthy, who is stepping down from his role as CEO after leading the Company during a period of meaningful transformation and growth to pursue other professional opportunities. The Company also provided an update on expected full year 2019 financial results based on preliminary Q4 2019 results.
Amit, who most recently served as Informatica’s President of Products and Marketing, has been an integral member of Informatica’s leadership team since joining the Company in 2013. During this time, Informatica has undergone a substantial transformation as it has entered new markets, launched Informatica Intelligent Cloud Services and new A.I. driven solutions, deepened its strategic partnerships with ecosystem providers like AWS, Microsoft and GCP, and made its entire portfolio available by subscription. As a result of the Company’s consistent innovation and execution, Informatica has been identified as a leader in all 5 Gartner Magic Quadrants in which it participates and expects record proforma net new bookings performance in Q4 2019 and more than $1 billion in recurring revenue in FY 2019.
Previously, as President of Products and Marketing, Amit was responsible for Informatica’s product strategy, product management, product development, user experience, strategic ecosystems strategy and global marketing function. He previously served as Informatica’s Executive Vice President and Chief Product Officer, where he spearheaded the Company’s innovation journey across all parts of the Enterprise Cloud Data Management market (Data Integration, iPaaS, Data Quality, Data Governance, Mater Data Management, Enterprise Data Catalog, and Data Privacy). Prior to joining Informatica, Amit worked in various leadership positions at Symantec, Intuit, and McKinsey & Company, and also spent the earlier part of his career working for Tata Group and Infosys Technologies in India. In these roles, he led large global organizations focused on growth driven by customer-centric innovation, new market expansion and mergers & acquisitions.
The Company also announced today that Tracey Newell’s role as President, Global Field Operations is being expanded to President, Global Field and Marketing Operations, bringing all of Informatica’s customer facing go-to-market functions under one organization in order to deliver a remarkable end-to-end customer experience. In her expanded role, Tracey will now also be responsible for the company’s brand, digital, field and portfolio marketing initiatives. Prior to joining Informatica in 2018, Tracey served as Executive Vice President of Global Field Operations and Customer Success at Proofpoint and has also has held senior leadership positions at Polycom, Juniper Networks and Cisco. Tracey also served on the Board of Informatica from 2016-2018.
Additionally, Vineet Walia, Informatica’s Senior Vice President and Chief Strategy Officer, has been promoted to Executive Vice President. As Executive Vice President, Vineet will continue to work closely with the Board and leadership team to develop Informatica’s strategy, ensure execution of critical initiatives, and drive value creation. Prior to joining Informatica in 2017, Vineet served as Vice President, Global Sales Strategy, Transformation and Programs at HPE, and Corporate Vice President, Head of Corporate Strategy at Juniper Networks, among other roles. Before Juniper, he served as Senior Principal at Mercer.
Informatica today also provided an update on expected full year 2019 financial results based on preliminary Q4 2019 results. The Company expects approximately $1.3 billion in GAAP revenue for 2019, with approximately 80% – or more than $1 billion – to be recurring revenue on the strength of a greater than 50% compounded annual growth rate for subscription revenue over the last three years, and record proforma net new bookings performance in Q4 2019.