- Push-out Score determined
- After around 13 years in the position
- Accolades and praise for Cirne
- Bill Staples taking over
- Cirne will remain as Executive Chairman at New Relic
- Cirne spoke at length and said 189 words
(exechange) — San Francisco, California, May 13, 2021 — Lew Cirne, chief executive of New Relic, leaves his position. As announced by New Relic Inc. in a news release and in a regulatory filing published on Thursday, May 13, 2021, Lewis (Lew) Cirne leaves his post as chief executive officer at the applications performance monitoring company after around 13 years in the role, effective July 1, 2021.
Lew Cirne’s duties as CEO will be taken over by William (Bill) Staples, currently President and Chief Product Officer at New Relic Inc.
Lew Cirne’s move forms part of a management shake-up also involving the position of Chief Operating Officer.
“The right time”
The management change is explained as follows. Cirne said: “When we recruited Bill into the company, we thought that he would be the natural successor to me as CEO at the right time.”
Cirne will remain as Executive Chairman at New Relic
“New Relic, Inc. (NYSE: NEWR), the observability company, announced the promotion of Bill Staples to CEO effective July 1, 2021. Staples will succeed Founder & CEO Lew Cirne who will transition to Executive Chairman of the Board at the same time. Cirne will continue his lifelong legacy and passion for his love of software as an inventor, technologist and strategist, further driving transformational innovation for the company, its customers and the tech community at large,” New Relic said.
New Relic said: “On May 8, 2021, Lew Cirne, Chief Executive Officer of New Relic, and the Company’s Board of Directors (the “Board”) determined that Mr. Cirne would transition from his role as Chief Executive Officer to Executive Chairman of the Board, effective July 1, 2021.”
Current Chair of the Board Hope Cochran will continue on as Vice Chair of the Board and Lead Independent Director for New Relic.
Share price decline since May 2018
The announcement follows a decline in New Relic Inc.’s share price of 19% since May 2018.
In the position of CEO since 2008
Lew Cirne became CEO of the Company in 2008.
Lewis Cirne founded the Company and has served as the Company’s Chief Executive Officer since February 2008 and as a member of the Company’s Board since February 2008.
From 1998 to 2001, Cirne was founder and Chief Executive Officer, and from 2001 to 2006, he was Chief Technology Officer, of Wily Technology, Inc.
Prior to Wily Technology, Inc., Cirne held engineering positions at Apple Inc. and Hummingbird Ltd.
Cirne holds an A.B. in Computer Science from Dartmouth College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Lew Cirne’s move on a scale of 0 to 10.
exechange reached out to New Relic and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 20.2021 ($).