Biggest Moves in June 2022 - Software and Deep Tech
June 2022 observed some key moves in the Software and Deep Tech industries. Here are the top 10 moves:Meta (1st June) June began with a shock as the Chief Operating Officer of Meta, Sheryl Sandberg, announced she was departing from her role effective immediately. Sandberg directed multiple efforts throughout her 14 years at Meta that finally led to the development of the contemporary advertising ecosystem as we know it.Sandberg's laser-like concentration on quantifiable results for advertising, Meta saw enormous commercial success, as Sandberg oversaw the growth of Meta's revenue from $272 million in 2008 to nearly $118 billion in 2021. Hundreds of companies started to mimic Facebook's strategy soon after Sandberg and Facebook demonstrated this huge commercial success. Her departure saw Meta shares falling by approximately 4%. (Read more).2. BigBear.ai (2nd June) Analytics and cyber engineering firm BigBear.ai, added two new members to its senior leadership group. Josh Kinley who was promoted to the newly created position of Chief Corporate Development Officer, and was replaced as the company's Chief Financial Officer by Julie Peffer. BigBear.ai CEO, Reggie Brothers, considers these moves to be of utmost importance to the growth of the company. "Peffer's strong experience driving revenue growth and margin expansion through excellent SaaS modelling and pricing," according to Brothers, explains Peffer's suitability for the CFO position. Additionally, Brothers has entrusted Josh Kinley to expand BigBear.ai's market reach throughout the public and private sectors, assessing potential mergers and acquisitions and spearheading integration strategy and execution. The moves come at a time when BigBear.ai have suffered significant fluctuations in its share price since the beginning of 2022. (Read more).3. Intel Corporation (8th June)By appointing April Miller Boise as Executive Vice President & Chief Legal Officer, Intel Corporation has solidified its mission to be the commanding force in the semiconductor industry. "Our ambitious goals for Intel are set against an increasingly complex legal and policy environment, and April's breadth of skills and experience make her a critical addition to our leadership team as we pursue the largest transformation in the company's history," remarked Intel CEO, Pat Gelsinger. Miller Boise has worked for more than 25 years in various businesses, including senior roles such as general counsel, head of global mergers and acquisitions, and corporate secretary. She worked for more than ten years at the Cleveland, Ohio-based commercial law firm Thompson Hine LLP, serving as senior vice president, CLO, and corporate secretary for Meritor Inc., and most recently held the positions of executive vice president and CLO at Eaton Corp. Miller Boise will join Intel's executive leadership team, provide advice and guidance to the leadership, and serve on the board of directors. Miller Boise's combination of commercial knowledge and legal experience, according to Gelsinger, made her a particularly strong fit for her new position. (Read more).4. Microsoft UAE (30th June)Microsoft UAE is saying goodbye to departing General Manager for the UAE, Sayed Hashish. Microsoft has always considered Hashish to be a consistent, inspiring leader. By working with governmental agencies, start-ups, and other private businesses to utilise Microsoft's platforms and technologies, he has significantly contributed to the company's expansion in the United Arab Emirates. His successor, Naim Yazbeck, has held the position of Regional Director for the Enterprise and Partner Group (EPG) at Microsoft, where he has been in charge of the company's initiatives to speed up digital transformation across industries in the Gulf region as well as strategic alliances with important clients and partners. (Read more).5. Pinterest (28th June) Due in part to its female user base and former CEO and co-founder Ben Silbermann's likeable persona, Pinterest had gained a reputation as a gentle company that avoided following Silicon Valley's startup playbook of machismo, strutting bluster. But as workers exposed instances of sexism and racism in the workplace in recent years, the business came under intense criticism. Moreover, given the tough economic conditions, the company was in need of a seasoned winner, experienced enough to steer Pinterest away from any significant losses. Bill Ready's appointment, therefore, is no major surprise. Ready was the former president of commerce, payments and next billion users at Alphabet's Google, as well as a former exec at PayPal. At first, he was exclusively in charge of commercial initiatives, such as those to compete with Amazon by eliminating "Buy on Google" commission fees and making listings on Google Shopping free. In April 2021, Ready acquired Payments and Next Billion Users in the wake of Caesar Sengupta's retirement as a longstanding Google executive. A "major role in developing a new vision and strategy for Commerce and Payments at Google" is credited to him. (Read more).6. AMD (22nd June) The semiconductor industry is on a path to recovery. The easing of shortages has paved a concrete path for better prospects in the future. Mathew Hein's appointment as AMD's new Chief Strategy Officer, therefore, is not surprising. Hein served as an advisor to AMD throughout the acquisitions of Xilinx and Pensando while he was a partner at DBO Partners prior to joining AMD. His career also includes holding several top positions for organisations such as Morgan Stanley, Qolsys, SGI, and Ethertronics. Additionally, MergerLinks named him a Top Investment Banker in North America for 2020. Hein has been tasked with "advancing the company's strategy across an expanded market for high-performance and adaptive computing solutions" by company Chair and CEO, Dr. Lisa Su. (Read more).7. Volta Charging (13th June) On June 13th, Volta Inc., a market-leading provider of electric vehicle charging networks, announced that its Board of Directors had made several significant leadership appointments and new hires to support the Company's upcoming phase of growth and operational success. The Board engaged Stephen Pilatzke to serve as Chief Accounting Officer and selected Vincent Cubbage as Interim Chief Executive Officer. In order to take advantage of Volta's expanding revenue impetus and market potential, the Board also announced that Brandt Hastings would be promoted to Chief Commercial Officer. Additionally, Drew Lipsher was given the title of Chief Development Officer, and effective with the aforementioned appointments, Kathy Savitt, a Director and previously Co-Chair of the Volta Board, was named sole Chair of the Board. In a hotly contested sector, Volta's massive influx of promotions and new appointments paves the way for expansion and solidifies the company's reputation as a primary player in the sector. (Read more). 8. 6Sense (9th June) Earlier in June, 6Sense acquired AdTech providers Granite Media, paving the way for the Granite Media acquisition marketing team to unleash the potential of 6sense consumers and drive advertising product innovation. Bryan Wise and Terese Lam were subsequently appointed to the positions of Chief Information Officer and Chief People Officer, respectively, by 6sense in conjunction with the acquisition. Terese Lam previously served as the Chief People Officer at Wind River, a leading provider of intelligent edge software, where she played a key role in advancing change in all areas pertaining to personnel, culture, and organisational structure. She has more than 20 years of great HR expertise in major, multinational organisations as well as medium-sized, fast-growing businesses all over the world. Bryan Wise joined 6sense as the organization's first CIO, where he has been responsible for monitoring and fostering innovation within the Information Technology function of the firm, as well as developing top-notch teams that have a positive influence on the company's bottom line. In the past, Wise held remarkable Vice President positions at well-known technology firms like GitLab, Snowflake, DocuSign, and others. These appointments come at a time when 6Sense has been significantly growing and hitting monumental milestones, such as most recently closing a Series E funding round of $200 million in January, doubling its valuation to over $5.2 billion. (Read more).9. SymphonyAI (15th June) The Great Resignation has enabled many employees to voluntarily resign from their jobs en masse in search for better opportunities and easy-going working conditions with added incentives. Tech giants, such as Microsoft, Apple, and Google have been the victims of this economic trend. But smaller tech companies and startups have profited off of this economic trend. Bill Bragg, SymphonyAI's new Chief Information Officer, joins from Google, where he was head of Fitbit corporate IT and successfully led employee productivity integration and migration. Previously, he was vice president of IT infrastructure at Riverbed Technology and the first customer of Riverbed's business performance management software. Bragg spent 14 years at Cisco Systems in various IT and engineering operations roles. He has led transformative initiatives through global teams, building and operating programs worldwide, including in India, China, and Europe. Bragg's extensive experience can only prove to be valuable for SymphonyAI in the long term, where he has been tasked with "driving SymphonyAI's corporate information technology strategy and overseeing all IT and information security." (Read more). 10. Zeta (June 22nd) Zeta hired their first Chief People Officer in Candice Chafey. Candice has been tasked with leading Zeta's human resources team, spearheading Zeta's culture initiatives, and to drive the company's employee experience strategy. With more than 20 years of experience in senior human resource positions at organisations like Sisense, Bridgewater Associates, and Lehman Brothers, Candice brings a wealth of knowledge, accelerating businesses by coordinating talent with organisational goals, establishing a people-first environment, and influencing corporate culture. She will work with Juliet Schuler, Zeta's Chief Diversity and Inclusion Officer, on DEIB projects. Zeta is strengthening its commitment to the general growth, development and well-being of employees as it expands its worldwide workforce to produce data-driven products and solutions that spur profitable growth for the most intelligent marketers on the planet. The long-term Zeta 2025 plan, which was unveiled in February 2022, includes this investment. (Read more).