After serving as interim CEO for the past five months, starting today, Raghu Rau is the new permanent CEO at SeaChange. He also retains his seat on the board, a position he has held since July 2010. And effective May 21, Philippe Tartavull, the former president and CEO of Hypercom Corporation, will become president and CEO and a member of the board of Comverse Technology Inc. ‘s wholly owned subsidiary Comverse Inc.
“My decision to continue as the CEO expresses my utmost confidence in SeaChange’s transformation strategy to become a pure-play software provider,” Rau says. “I intend to focus, with a renewed sense of urgency, on driving shareholder value by focusing on improving financial performance, operational excellence and delivering high-quality, next generation products to our customers. SeaChange has an exciting future as multi-screen video becomes even more pervasive globally.”
Since being named interim CEO, Rau has focused on strengthening the company’s core software business while reducing the overall cost structure of the company.
Comments Chairman Thomas Olson, “Raghu’s leadership and excellent grasp of our business was apparent from the moment he assumed responsibility for the day-to-day operation of the company. In a matter of just a few months, he has dramatically improved SeaChange’s overall operations and its ability to serve global markets, to the immediate benefit of our customers as well as our shareholders and employees.”
He continues, “Raghu accurately assessed our organization, and then moved decisively, initiating actions to ensure SeaChange’s continued leadership in the personalized multi-screen video market, such as shedding non-core businesses and realigning our workforce to enable more coordination and collaboration. The positive momentum that has been visible since Raghu took the helm will now continue without pause or interruption.”
According to Comverse CEO designate Taravull, "I am excited to join Comverse, a company with an outstanding reputation for technology leadership, innovation, and a focus on customer success. It’s strong product portfolio, global customer base and exceptional engineering and customer service presents new opportunities for growth in the areas of business support solutions, value-added services and mobile Internet.”?
Adds Charles Burdick, CTI’s CEO and chairman, "Philippe Tartavull is an outstanding leader with a long track record of achieving strong growth, profitability and shareholder value for global technology companies. Philippe has a broad range of expertise in management, sales, marketing, engineering and product development within the global technology and telecommunications arenas, and he is the right leader to bring growth and operational excellence to Comverse.”
CTI plans to spin off Comverse as an independent public company in a transaction expected to close in September or October.?