Software analytics leader New Relic (NYSE: NEWR) today announced two additions to its Board of Directors. Sohaib Abbasi, former chairman and chief executive officer of Informatica Corporation, and James R. Tolonen, former chief financial officer and senior vice president of finance and administration of Business Objects, joined New Relic’s board effective May 3, 2016.
"We are excited to have two industry veterans join our board -- each with tremendous experience successfully managing high growth enterprise software companies,” said Lew Cirne, founder and CEO, New Relic. “Their leadership and expertise will be critical to our success as New Relic continues to help businesses of all sizes succeed with their digital strategies. We simply could not have attracted better candidates for these roles.”
Abbasi served as the chairman and chief executive officer of Informatica Corporation from 2004 to 2015. Prior to Informatica, Abbasi served in various roles at Oracle Corporation from 1982 to 2003, most recently as a member of the executive committee and senior vice president of two divisions, Oracle Tools/Middleware Products and Oracle Education Services. Abbasi graduated from the University of Illinois at Urbana-Champaign in 1980, receiving a B.S. and M.S. in Computer Science.
"Eight years ago, New Relic pioneered cloud-based software analytics technology to transform the traditional application performance monitoring (APM) category,” said Abbasi. “I believe New Relic is well-positioned for sustained growth as more organizations evolve into software-driven digital enterprises. I’m excited to join the board of directors as New Relic pursues its promising growth journey.”
Tolonen served as the chief financial officer and senior vice president, finance and administration of Business Objects, S.A. from 2003 until its acquisition by SAP AG in 2008. Before joining Business Objects, Tolonen served as the chief financial officer and chief operating officer of IGN Entertainment Inc., and as chief financial officer and a member of the Office of the President at Novell Inc. He is a past member and chairman of the NASDAQ Issuer Affairs Committee.
“With more than 13,000 customers and half a million users, New Relic has built one of the most respected brands amongst teams of developers and operations professionals who rely on its products every day to build and manage their digital initiatives,” said Tolonen. “New Relic’s incredible journey reminds me of the early days at Business Objects, and I look forward to joining the board for this exciting chapter at the company.”
Abbasi and Tolonen join the New Relic Board of Directors, also consisting of Chairman Peter Fenton, general partner, Benchmark; Lew Cirne, founder and CEO, New Relic; Peter Currie, president, Currie Capital LLC; Sarah Friar, chief financial officer, Square; Adam Messinger, chief technology officer, Twitter; and Dan Scholnick, general partner, Trinity Ventures.
In addition, the company announced that Peter Currie was not considered for reelection at his request. He will exit the board when his term expires at the annual meeting of stockholders later this year.
Learn more about New Relic’s leadership team and board here.
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws, including but not limited to statements regarding the benefits to New Relic of the new additions to the board, New Relic’s growth and market opportunity, the benefits New Relic brings to its customers, and Currie’s tenure on the board. 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 press release 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.