When former SAP CEO Bill McDermott introduced that he was stepping down in October after a decade within the place, it was fairly sudden. He indicated at that time, he would keep till the tip of the yr to assist with the transition to new management — then ServiceNow employed him to be its CEO just some weeks later. Today, the corporate introduced, McDermott has taken over his duties sooner than anticipated.
The firm additionally introduced it has crammed its vacant CFO job, hiring Gina Mastantuono, who beforehand served in related roles at Ingram Micro and Revlon, and has greater than 20 years expertise in finance.
It was a recreation of CEO musical chairs when ServiceNow introduced on October 22nd that former CEO John Donahoe was leaving to be CEO at Nike, and it might be bringing in McDermott to exchange him.
It is a time of transition for ServiceNow, having to exchange each a CFO and CEO, however they landed two skilled professionals, who ought to assist proceed to information the corporate into the longer term. The firm has said that it hopes to finally obtain a $10 billion income aim below the brand new management crew.
As I wrote in a bit analyzing his transfer to ServiceNow, McDermott appeared to totally embrace that problem, although he has a methods to go:
McDermott has his work reduce out for him. The firm’s 2018 income was $2.6 billion. Still, he absolutely embraced the $10 billion problem. “Well let me answer that very simply, I completely stand by [the $10 billion goal], and I’m looking forward to achieving it,” he stated with bravado throughout at this time’s name.
Mastantuono has so much in frequent with McDermott, who additionally got here from a a lot bigger group to assist lead ServiceNow to the subsequent degree. At her earlier place at Ingram Micro she led finance for a corporation with $50 billion in income and greater than 200,000 prospects.
Mastantuono sees an organization with nice potential as she takes over to information the monetary facet of the group. “ServiceNow is highly regarded by its customers and has tremendous momentum and opportunity to enable digital transformation and help make work, work better for people,” she stated in an announcement.
The new management duo has its work reduce out for it, however it’s an organization with a number of room for progress. It will now be as much as McDermott and Mastantuono to steer it into that subsequent section.
