A new executive management team is taking shape at Innovative Interfaces following its transition to majority ownership by private equity firms Huntsman Gay Global Capital and JMI Equity in May 2012. It is not surprising that the new board of directors would make new appointments charged with executing its business strategies. Since the business transition, several appointments and exits have taken place at the executive level.
Kim Massana was appointed by the new board in August 2012 to lead the company as its Chief Executive Officer, as reported in the October issue of Smart Libraries Newsletter. JMI and Huntsman Gay engaged the executive search firm Lancer Group to facilitate the process that led to the appointment of Massana. Lancer lists JMI Equity as one of its principle clients and states its key expertise as “… focused on search work for Private Equity firms, building out the senior management teams of their portfolio companies” (http://www. lancergroup.net/).
James A. Hofbauer, Executive Vice President and Chief Financial Officer exited Innovative at the time of its ownership transition. Hofbauer joined Innovative in 1992 and had previously served as Vice President and later President of CLSI, one of the pioneering companies in the industry. Bryan Urquhart became the company's new CFO in October 2012. Other executive appointments at Innovative include and Satyadeep Prasanna as Vice President of Strategy and Business Development. On December 10, 2012, Innovative announced that Jayanthi “Jay” Shankar will join the company as Senior VP of Services and Support, having previously worked in a similar role at BMC Software. While Massana, Urquhart, Prasanna , and Shankar have not previously worked for companies within the library automation industry, they bring diverse experience from the broader information technology and software sectors. Jerry Kline, who co-founded the company with Steve Silberstein in 1978, continues to own a significant portion of the company, serves as its Chairman of the Board of Directors, but is no longer involved in the day-to-day management of the company. Kline began a transition from the operational to board-level involvement with the appointment of Neil Block as company President in August 2010.
Following the appointment of Massana as CEO, Neil Block initially shifted from President to a newly defined role of Chief Sales Officer. This arrangement was short-lived. Block exits the company entirely as of December 2012. Block joined innovative in 1988 and had held a variety of roles including VP for Worldwide Sales.
Betsy Graham, VP of Library Services, has also left Innovative, retiring after 30 years with the company.
Executives continuing at the Vice President level include Hilary Newman, Senior VP of Product Development, Gene Shimshock, Senior VP of Product and Market Management, Mary Chevreau, VP North American Sales, Maryvonne Enjolras, VP of sales for Europe, Africa, the Middle East, and Latin America; and John McCullough, VP Product Management.
As a company goes through a major transition, such as the one that Innovative recently experienced, one would expect a blend of new appointments and retention of incumbents at the executive level. In this case, the top leadership positions have gone to fresh appointments made by the new board, with more continuity at the vice president level.