October 3, 2016

Cloud CPM Leader Adaptive Insights Names New Chief Revenue Officer

PALO ALTO, CA, Oct 03, 2016 – Adaptive Insights, the only pure-play cloud vendor to be named a leader in strategic cloud corporate performance management (CPM), today announced the appointment of 25-year industry veteran Fred Gewant to the position of chief revenue officer (CRO). With high-growth selling expertise in both domestic and international markets, Gewant will be instrumental in helping Adaptive Insights scale its global sales organization as it enters its next phase of growth. Gewant will act as global lead for Adaptive Insights’ sales, channel/alliances, customer success, professional services, and customer support teams.

“We continue to see explosive demand for cloud CPM solutions, as more organizations are looking to solutions like the Adaptive Suite to automate their finances and inform their businesses—all within a cloud environment,” said Tom Bogan, CEO of Adaptive Insights. “Fred has demonstrated success not only in significantly expanding revenue at high-growth companies but also in maintaining superior customer satisfaction and user experience. He brings the sales and services skillset and domain expertise needed to scale our global sales team and revenue, while ensuring the continued success of our more than 3,000 customers worldwide.”

With the addition of Gewant, Adaptive Insights continues to expand its executive management team. Other recent executive appointments include Michael Schmitt, chief marketing officer; Jim Johnson, chief financial officer; and Bhaskar Himatsingka, chief product officer. This growth is part of the company’sleadership expansion plan announced in January.

Gewant joins Adaptive Insights from SugarCRM, where he was the executive vice president of worldwide sales. During his tenure, Gewant significantly expanded the company’s enterprise customer base and global footprint in Europe, Asia Pacific, and Latin America, increasing the average new deal size by more than 90%. Prior to SugarCRM, Gewant led a $1.3 billion sales organization as head of IBM Software’s West region, overseeing 800 employees with sales responsibility for all products and channels within IBM’s broad software portfolio. In addition to direct sales, he also oversaw channel and customer engagement for a customer base of over 1,600 customers.

“As someone who has managed both sales and services during my career, I fully understand what a customer ultimately needs to be successful,” said Gewant. “The most exciting thing about leading the global sales organization at Adaptive Insights is driving growth while leveraging our market leadership position and track record of customer success. As the leader in cloud CPM, we continue to demonstrate the value of our software platform to both finance and business leaders as they seek to maximize their business performance.”