Avetta, one of the world leaders in providing cloud-based supply chain risk management solutions, announced today that its Board of Directors has appointed Arshad Matin as President and Chief Executive Officer, effective immediately. Mr. Matin will also become a member of the Company’s Board of Directors. Mr. Matin succeeds John Herr, who is stepping down as Chief Executive Officer. Mr. Herr will serve as a strategic advisor to the Board to ensure a smooth transition of leadership.
Mr. Matin brings to Avetta deep experience in successfully leading high-technology and software companies over the past 25 years. Recently, he served as President, Chief Executive Officer and Board member of Paradigm Ltd., a leading developer of software solutions to the global oil and gas industry. Previously, he held senior leadership roles at companies including IHS Markit, Seismic Micro-Technology, Inc., Symantec Corporation and BindView Corporation. For nine years, Mr. Matin was a Partner with McKinsey & Company where he served clients across industries on technology, organization and strategy related issues.
At Avetta, Mr. Matin will be responsible for advancing the Company’s next stage of growth. Avetta has scaled dramatically in recent years and is now poised to capitalize on new opportunities created by its recent acquisitions of eWebOQ and BROWZ and the launch of its new platform – Connect – as well as its Supplier Marketplace.
Christopher J. Hooper, Lead Director of the Board of Avetta, said: “We are pleased to welcome Arshad Matin at this exciting time for the Company. Avetta is accelerating growth and capitalizing on the opportunity to utilize software to enhance safety, sustainability and regulatory compliance outcomes for clients and their suppliers – in North America and internationally. We believe Arshad’s extensive experience scaling software businesses will be invaluable as the Company executes the next phase of its growth strategy. We would like to thank John Herr for his foundational contributions over the past five years in leading Avetta to the strong position it is in today. We wish him all the best in his future endeavors.”
Mr. Matin commented, “I am excited to join Avetta and partner with its talented team. With its market leadership in supply chain risk management, demonstrated value in helping clients and suppliers achieve their business objectives and a mission-driven culture, Avetta has clear competitive advantages on which to build in a highly attractive and growing industry.”
Mr. Herr added, “It’s been a privilege to lead Avetta from its founder-owned phase through the substantial growth we have achieved over the past five years. I am proud of our accomplishments and the Company is in excellent shape to continue to grow and serve our customers and suppliers around the world. I am confident that Avetta is well positioned for the future.”
Mr. Matin will join the Board of Directors alongside representatives from majority investor Welsh, Carson, Anderson & Stowe as well as Technology Crossover Ventures and Norwest Venture Partners and independent directors Shanti Atkins (Navex Global) and Kent Parker (Ariba and FreeMarkets).