Kinaxis Provides Business Update
Kinaxis Inc.® (TSX:KXS) a global leader in end-to-end supply chain orchestration, is today providing an update on its business.
The company today announces that Robert Courteau has been named Executive Chair of Kinaxis, effective immediately, and will serve in this role until a permanent CEO is in place. Kinaxis previously announced that John Sicard will be retiring at the end of 2024, and the search for his successor is well underway. As Executive Chair, Mr. Courteau will continue to work closely with John Sicard and the senior leadership team to drive the company’s strategy until a new CEO is in place.
Kinaxis also announces that Angel Mendez has been appointed Lead Independent Director of the Board of Directors.
The Board of Directors has taken decisive action in recent months to refine Kinaxis’ strategy and execution, including engaging a leading management consultant firm, who has been working with the company on initiatives that Kinaxis will implement to increase value, improve profitability margins and capture even more of the $16B supply chain management software market.
“Kinaxis has positive momentum in its business, has earned a reputation for its vision and innovation, and is working with focus and urgency to take the company to the next level,” said Robert Courteau, Executive Chair. “My focus will be on supporting the management team in driving the company’s strategy forward. The Board continues to engage with longer-term and newer shareholders to elicit their views on the business. I look forward to continuing to work closely with fellow directors and management to ensure that the company is optimally positioned to create growing and sustainable value for shareholders.”
The Board values shareholder feedback and since announcing its CEO succession, Kinaxis leadership has been speaking with shareholders and considering the best approaches going forward. The Board strongly believes that execution of its strategic plan is the best path to maximize shareholder value. The company continues to develop and evaluate its plan and has engaged Goldman Sachs to provide financial advice in this regard.
Kinaxis has a proven track record of success and a reputation for delivering excellence for customers and shareholders. Kinaxis is a market leader in AI with its end-to-end orchestration platform Maestro and is a ten-time Leader in Gartner’s Supply Chain Planning Solutions Magic Quadrant.
Last Updated on 3 months by News Desk 1
