- Push-out Score determined
- After almost nine years in the position
- Thanks for Ryu
- Mike Rosenbaum taking over
- Ryu will remain as Chairman at Guidewire
- Ryu said 103 words
(exechange) — San Mateo, California, August 5, 2019 — Marcus Ryu, chief executive of Guidewire, leaves his position. As announced by Guidewire Software Inc. in a news release and in a regulatory filing published on Monday, August 5, 2019, Marcus S. Ryu has left his post as Chief Executive Officer at the software publisher after almost nine years in the role, effective August 3, 2019.
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 7.3 years, according to data compiled by exechange.
Marcus Ryu’s duties as CEO will be taken over by Mike Rosenbaum, most recently EVP Product of Salesforce.com, Inc.
The fact that Marcus Ryu’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“My own journey with Guidewire continues in a new role”
A reason for Marcus Ryu’s departure from the CEO post was not explicitly provided. Ryu said: “My own journey with Guidewire continues in a new role.”
Ryu will remain as Chairman at Guidewire
“Marcus Ryu has transitioned to become Chairman of Guidewire’s Board of Directors. Former Chairman, Peter Gassner, will continue to serve as an independent director,” Guidewire said.
Guidewire said: “On August 5, 2019, Guidewire Software, Inc. (the “Company”) announced that, effective August 3, 2019, Marcus Ryu has resigned as President, Chief Executive Officer, and principal executive officer of the Company and will become Chairman of the Company’s Board of Directors.”
Guidewire further said: “The Board of Directors has accepted Mr. Ryu’s resignation and has appointed Michael (Mike) Rosenbaum, former EVP Product at Salesforce, as the Company’s Chief Executive Officer, principal executive officer, and a director of the Company, effective as of August 3, 2019.”
Share price increase since January 2017
The announcement follows an increase in Guidewire Software, Inc.’s share price of 98% since January 2017.
In the position of CEO since 2010
Marcus Ryu became CEO of the Company in December 2010.
Marcus S. Ryu served as Guidewire’s Chief Executive Officer (“CEO”) and President.
Since co-founding the Company in 2001, he has held a variety of roles for the company, including securing key customer relationships, communicating the Company’s value proposition, and defining the Company’s product strategy.
He serves on the Company’s board of directors and has managed the engineering, sales, services, and strategy departments.
Before Guidewire, Ryu was Vice President of Strategy at Ariba, Inc. and an Engagement Manager at McKinsey & Company.
He currently serves as a member of the board of directors of BloomReach, Inc., a privately held company that offers a digital experience platform, and of Cornerstone OnDemand, Inc., a publicly traded platform provider for building application networks.
He has an A.B. from Princeton University and a B.Phil. from New College, Oxford 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.
exechange reached out to Guidewire and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2019 ($).