Fourth-Quarter 2018 Total Revenue Results Expected to Be in Line with or Better Than Guidance
Teradata , the industry’s only pervasive data intelligence company, announced that its Board of Directors has appointed Oliver Ratzesberger President and Chief Executive Officer (CEO), effective immediately. Ratzesberger succeeds Victor L. Lund, who is transitioning from his role as President and CEO to Executive Chairman of the Board of Directors.
Teradata appoints technology visionary Oliver Ratzesberger President and CEO in the next move forward on a successful strategic transformation
Ratzesberger has served as Teradata’s Chief Operating Officer (COO) since February 2018, responsible for the Company’s global operations and leading its strategies for go-to-market, products and services. He joined Teradata in 2013 and, from 2016 to 2018, served as the Company’s Executive Vice President and Chief Product Officer, leading Teradata’s research and development organization, following a distinguished career in advancing innovation in technology at both established and start-up companies.
While COO, Ratzesberger worked alongside Lund in architecting and implementing the Company’s transformation. This appointment reflects the Board’s confidence in Ratzesberger as Lund’s successor, and in the continued execution of the Company’s strategy as well as the development of its culture and values.
“I am honored to serve as the next CEO of Teradata as we continue to challenge the market’s perceptions of how data can lead to answers and deliver the industry’s only pervasive data intelligence solution,” said Ratzesberger. “Over the last few years, we have revitalized Teradata by making significant advancements to our offerings while also working to transition our business model to provide the subscription-based services our customers prefer. As CEO, I look forward to continuing to work with our talented team to build on this momentum and create long-term value for our customers and shareholders.”
Lund said, “As we continue to successfully execute on Teradata’s strategic transformation, including the pivot to a subscription model, which is showing up in our financial performance, now is the right time for this leadership transition and Oliver is the right person. He is a technology visionary who, along with an exceptional team, has charted a course for Teradata Vantage™, our world-class analytics platform, and helped to drive our overarching vision. His track record at Teradata and in the industry make him a natural choice as our next CEO. I am extremely proud of the Teradata team, and all that we have accomplished together over the last three years in transforming our strategy and management team to help drive Teradata forward. It has been my privilege to lead a company that has such a strong foundation and bright future ahead. The employees at Teradata are world class, and the value that we are providing to the most visionary companies in the world has and will only continue to grow.”
Ratzesberger added, “I’m grateful to Vic for his steadfast guidance, support and leadership of Teradata through a critical period in the Company’s history. Under his leadership, Teradata has reimagined its brand and modernized its overall market strategy to include subscription-based analytics-as-a-service.”
Teradata also announced today that, although final results will not be available until normal year-end review procedures are completed, it currently expects the Company’s fourth-quarter and full-year 2018 total revenue, recurring revenue and annual recurring revenue (ARR) results to be in line with, or better than, its most recent guidance. Teradata will not be providing any additional information regarding its fourth-quarter or full-year performance until it reports final results in early February 2019.
In connection with Lund’s appointment to Executive Chairman, the Board has appointed Michael Gianoni, a member of the Board of Directors since January 2015, as independent Lead Director, effective immediately. James Ringler, who has been Chairman of Teradata since 2007, will remain a member of the Board.
Gianoni commented, “Today’s announcement regarding Teradata’s new CEO is the culmination of a thorough and thoughtful process undertaken by the Board over the past few years to ensure that the Company is best positioned to deliver on our value proposition to all stakeholders. The Board and I are confident that Oliver is the right person to lead Teradata forward and deliver profitable growth and shareholder value creation. We are also thrilled that the Company will continue to benefit from Vic’s wealth of experience and strategic guidance as he transitions to his new role as Executive Chairman of the Board, and we appreciate Jim’s significant contributions as Chairman and continued service to our Board and company.”