SAN MATEO, Calif., Sept. 27 /PRNewswire-FirstCall/ -- Today, SuccessFactors, Inc. (Nasdaq: SFSF) announced the appointment of John G. Schwarz to the company's Board of Directors, effective immediately. Schwarz was formerly CEO of SAP Business Objects and executive board member of SAP AG and is currently co-founder and CEO of Visier LLC, a young business analytics software firm.
"John brings a tremendous track record, and the depth and breadth of his leadership experiences in high growth business applications companies is particularly relevant to the SuccessFactors Board," said Doug Burgum, chairman of the board, SuccessFactors. "We are excited to have him join us."
"The company has a uniquely strong value proposition and its solutions are truly connecting people to their organization's plans and strategies," said John Schwarz, board member, SuccessFactors. "SuccessFactors' combination of technology, people and innovation is unlike any other out there today. I look forward to working with the other board members and the executive team to continue the company's growth worldwide."
Prior to founding Visier, a software business focused on delivering analytics applications to business users in selected industries, Schwarz was a member of the executive board of SAP AG and CEO of Business Objects. Joining SAP through the acquisition of Business Objects in January 2008, Schwarz was elected to the executive board in March 2008. During his time on the board, he drove the growth of the SAP Business Objects division and led the successful SAP integration.
Schwarz was the CEO of Business Objects from 2005 through the acquisition by SAP in 2008 and then led the integration of the businesses through early 2010. In that time, he doubled the company's revenue to more than U.S. $2.0 billion, improved profitability and oversaw seven strategic acquisitions including Cartesis and FirstLogic. Prior to Business Objects, Schwarz was president and chief operating officer of Symantec Corporation. While at Symantec, he played a key role in tripling business growth to more than U.S. $2.7 billion in revenue and was instrumental in the successful combination of Symantec and VERITAS. Schwarz's impressive track record in the technology industry and extensive experience in productive acquisitions also includes a successful and diverse 25-year career at IBM.
"SuccessFactors has seen great growth, up to an approximately $200 million run rate in nine years. John was the COO and CEO who helped lead billion-dollar growth at Symantec and SAP Business Objects, as well as tens of thousands of successful customers and high performing employees. It's a perfect fit for our next stage of growth," said Lars Dalgaard, founder and CEO, SuccessFactors. "The SuccessFactors team is honored and excited to have John join the Board exactly at a time when we are expanding aggressively, both into BizX Analytics with the Inform acquisition and core HR with Employee Central. Adding John gives us more operational insight to strengthen and validate those offerings and to further accelerate our growth."
About SuccessFactors, Inc.
SuccessFactors is the global leader in Business Execution Software. The SuccessFactors Business Execution (BizX) Suite, which is delivered through the cloud, improves business alignment, team execution and people performance to drive results for companies of all sizes. Across 168 countries and 34 languages, more than 8 million users and 3,000 companies leverage SuccessFactors every day, up from approximately 300,000 users and 100 companies in 2003. BizX bridges the gap between strategy and success by allowing every person in an organization to execute against their goals better and faster. SuccessFactors' recent acquisitions of Inform and CubeTree supplement SuccessFactors' core BizX strategy with integrated solutions that align with SuccessFactors' mission of helping companies get work done by delivering robust business insights and improved collaboration. To learn more, visit: www.successfactors.com.
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"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are SuccessFactors' current expectations and beliefs.
These forward-looking statements include statements about potential growth of the company. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to retain customers and to experience high customer renewal rates; whether customers renew their agreements for additional modules or users; pricing pressures; length of sales cycles; the fact that both the business execution and the social business markets are at an early stage of development, and may not develop as rapidly as we anticipate; risks related to the integration of the acquisitions; competitive factors; outages or security breaches; our ability to develop, and market acceptance of, new services; the impact of any discovered product defects or outages; our ability to continue to sell our services outside the HR area; our ability to manage our growth; our ability to successfully expand our sales force and its effectiveness; whether our resellers and other partners will be successful in marketing our products; and general economic conditions worldwide. If any such risks or uncertainties materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
Further information on these and other factors that could affect these forward-looking statements is included in the section entitled "Risk Factors" in our Annual Report on Form 10-K and in our most recent report on Form 10-Q and in other filings we make with the Securities and Exchange Commission from time to time.
These documents are or will be available in the SEC Filings section of the Investor Relations section of our website at www.successfactors.com/investor. Information on our website is not part of this release.
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SOURCE SuccessFactors, Inc.
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