Today I am excited to share that New Relic’s Board of Directors and I have decided to promote President and Chief Product Officer Bill Staples to become the next CEO of New Relic. Bill will step into the role on July 1, 2021, and in conjunction I will move into the role of Executive Chairman of the Board and remain actively involved with the company.
This is an exciting and joyful day for me, for Bill, and for New Relic. When Bill and I met during our Chief Product Officer search in the fall of 2019, we immediately hit it off, and I knew he was special. While it was early and there was so much more for each of us to discover about one another, I knew from that moment that Bill had the potential to be the next CEO of New Relic.
Bill joined New Relic in February of 2020 as our Chief Product Officer, and after just a few weeks, he had an epiphany: a brilliant and compelling vision for New Relic’s strategy and opportunity. It immediately resonated with me. Bill’s vision was so compelling that we both agreed that the most important thing for New Relic to do would be to go all in on the New Relic One strategy and move to a consumption-based business model built around our customers, users, and their success, driving everything we do at New Relic.
Bill didn’t just have a vision. He clearly communicated that vision and strategy to many stakeholders, solicited and incorporated feedback, formulated a plan, and drove the execution of the plan. He started with our product, where he drove the ambitious and very successful New Relic One release, and thereafter has overseen monthly releases of so many major transformational innovations that have leapfrogged New Relic back to the front of the pack, including our launch of New Relic Explorer, next-gen AIOps, and our acquisition of Pixie Labs, among others.
But Bill’s impact has gone so far beyond our platform, product, and Product organization. It spans the entirety of New Relic’s business, transforming us from a subscription- to a consumption-based business, and laying the groundwork for the next decade of growth and success.
Today, I have more conviction than ever that we are on the right path. The FY22 strategy and plan that Bill envisioned is the best business plan New Relic has ever had, and we are seeing evidence of success in the early indicators of our most important metrics: accounts, users, and ingested data.
I also love that while Bill and I share common values and a passion for New Relic’s mission, we have complementary skills. Together, these form the foundation for our high-trust partnership, built on deep respect for what the other has to offer. It’s probably the most important reason why I’m personally so excited about Bill as our next CEO. As the founder of the company, I’ve always wanted my successor to be a partner, collaborator, and a friend; somebody I could help, serve, and partner with; who would welcome my voice at the table as much as I’d welcome their leadership at the helm.
Bill is the strongest strategic and operational executive in the company, and nobody anywhere is better suited to lead and align our company on his brilliant strategy to ensure we fully capture the vast opportunity in front of us.
Following a brief sabbatical this summer after nearly 14 years leading New Relic, my first and most important priority as Executive Chairman will be to support Bill in successfully leading the company into the future. I’ll serve as his advisor, partner, and sounding board. I am also very excited to focus on my true passions of technology and innovation. I look forward to coding every day and partnering with New Relic’s brilliant technologists (aka Data Nerds) to help our customers and users build more perfect software.
One of the key leaders who has helped us navigate through this transformational year, and who will continue to play a critical role in our future, is our Board Chair Hope Cochran. Hope has done an incredible job leading our Board of Directors, and in particular helping New Relic navigate the challenges that we faced over the last year. Starting July 1, Hope will take on the new title of Vice Chair while continuing to serve as New Relic’s Lead Independent Director. I couldn’t be more honored or privileged to get to continue working with her on New Relic’s Board.
When I shared with Bill the exciting news that I was going to recommend to the Board that we promote him to CEO, we both agreed on what was most important and must never change: the New Relic core values. They are what make New Relic, New Relic.
This is why I have so much conviction that Bill will be incredibly successful as our CEO, and why New Relic has such a bright future; it’s because he lives those core values every day. Bill is Bold. He is Passionate. He is Accountable. He is Authentic. And he is Connected, most importantly to our customers, our users, and our Relics. I can’t wait to see his continued positive impact on New Relic and the engineering community.
You can read more about Bill’s promotion to CEO in today’s press release.
This post contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding the promotion of Bill Staples to CEO, transition of Lew Cirne to Executive Chairman, the appointment of Hope Cochran as Vice Chair of the Board and Lead Independent Director, the timing of these changes, the anticipated scope and responsibilities of these roles, New Relic’s future growth and market position as a result of its transformational strategy, the success of New Relic’s fiscal 2022 business plan, and the continued positive impacts of this news on New Relic and the overall community. 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 post 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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