- Push-out Score determined
- After about five years in the position
- Praise, thanks and good wishes for Ali
- Steve Munford taking over in the interim
- Search for a successor
- Ali kept it short and said 40 words
(exechange) — Boston, Massachusetts, July 25, 2019 — Mohamad Ali, chief executive of Carbonite, leaves. As announced by Carbonite Inc. in a news release and in a regulatory filing published on Thursday, July 25, 2019, Mohamad Ali leaves his post as Chief Executive Officer at the online backup service after about five years in the role, effective immediately.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.5 years, according to data compiled by exechange.
Carbonite will undertake a search for a successor.
Mohamad Ali’s duties as CEO will be taken over in the interim by Stephen (Steve) Munford, most recently Chairman of the Company’s Board of Directors of Carbonite, Inc., as Interim Chief Executive Officer.
Career change
Mohamad Ali’s departure from the CEO post is explained as follows. Carbonite said: “Steve Munford, Chairman of the Company’s Board of Directors, has been named Interim Chief Executive Officer and Executive Chairman of the Board, effective immediately. This appointment follows Mohamad Ali’s decision to step down as President, CEO and member of the Company’s Board in order to pursue other professional opportunities in the media and research industry.”
Ali will be CEO at International Data Group
“International Data Group, Inc. (IDG) today announced that Mohamad Ali has been named CEO of IDG. He will assume his new role on August 1, 2019 overseeing IDG’s worldwide operations from the company’s headquarters in Boston,” International Data Group said.
International Data Group announced the move on Thursday, July 25, 2019.
International Data Group is a media, data and marketing services and venture capital organization.
“Resigned”
Carbonite said: “On July 25, 2019, the Company announced that Mr. Mohamad Ali has stepped down and resigned from his position as President and Chief Executive Officer of the Company and has resigned from the Company’s Board of Directors, in each case, effective immediately, in order to pursue other professional opportunities in the media industry. Mr. Ali will continue as an executive of the Company through July 31, 2019.”
Share price decline
The announcement follows a decline in Carbonite, Inc.’s share price of 43% since September 2018.
Chaired by Steve Munford
Carbonite, Inc. is chaired by Steve Munford.
He has served as a member of the Carbonite Board since January 2014, and as Chairman of the Board since March 2016.
In the position of CEO since 2014
Mohamad Ali became CEO of the Company in December 2014.
Mohamad Ali was appointed as President and Chief Executive Officer, effective as of December 3, 2014, and as a Class I director of the Company, effective as of January 8, 2015.
He served as chief strategy officer of Hewlett-Packard, an information technology company, from August 2012 to December 2014.
From April 2012 to August 2012, Ali served as chief executive officer of the Workforce Optimization division of Aspect Software, a provider of business communications solutions and services.
From April 2011 to April 2012, Ali served as senior vice president and president of the global services business of Avaya Corporation, a provider of business collaboration and communications solutions, and from July 2009 to March 2011 he served as Avaya’s senior vice president of corporate development and strategy.
From January 1996 to July 2009, Ali served in various roles at IBM, including vice president of business and strategy for the information management division from 2005 to 2009.
Ali currently serves as a director of iRobot Corporation (NASDAQ: IRBT).
Ali holds a B.S. in Computer Engineering, a B.A. in History and a Master of Science in Electrical Engineering from Stanford University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
Read the full story in the exechange report 30.2019 ($).