Domo Announces Major Leadership Transitions
Lehi-based Domo (NasdaqGM:DOMO) announced this afternoon a series of significant leadership changes.
In summary, the business intelligence and analytics company disclosed that
- Josh James, Founder, CEO, Chairman, and director has "stepped down" from" all three positions at Domo;
- John Mellor (Domo’s Chief Strategy Officer since 2019) has been named CEO and a member of the company's Board of Directors;
- Catherine Wong (Domo’s Chief Product Officer and EVP of Engineering since 2013) has been named Chief Operating Officer;
- Carine Clark (a Domo Board member since March 2019, Chairperson of the Compensation Committee and a member of the Audit Committee) has been elected Executive Chair; and
- John Pestana (current CEO and Co-Founder of ObservePoint) has been appointed an independent Director of the Domo board.
According to the company news release, James formed Domo in 2010 with the goal of "transforming business by putting data to work for everyone."
For the fourth quarter of fiscal year 2022, Domo achieved record billings of $108 million, an increase of 30% year-over-year. Domo also became cash-flow positive in fiscal year 2021.
According to James,
“We recruited John Mellor to the company nearly three years ago because of his leadership attributes and deep industry experience. I’m very excited for Domo’s future under his stewardship. I have an aligned and substantial interest in Domo doing well, and I’ll continue to be its biggest cheerleader. I look forward to seeing the next generation of management take Domo’s performance to the next level.”
Conversely, Mellor said
“I am extremely optimistic about our future and the horsepower of the entire Domo team. Digital transformation remains a massive opportunity and the outlook remains strong for years to come. We are well positioned to help customers improve the millions of decisions and processes throughout their organizations with data. Speed and scale are critical, and that’s where we win. We’ll continue to leverage our technological advantages and customer-centric focus to drive our growth.”