The global banking software maker will seek the election of two new board members, while three are poised to exit.
Temenos will seek the election of Maurizio Carli and Homaira Akbari to its board of directors as non-executive and independent directors at its upcoming annual general meeting (AGM), to be held virtually on May 20, the firm announced in a statement on Thursday.
Based in Italy, Carli brings extensive knowledge and experience of the software sector, and until recently was executive vice president, worldwide sales and services for VMware. Prior to that, he spent almost two decades at IBM, holding various senior positions.
Akbari, based in Dallas, is the founder and CEO of global advisory firm AKnowledge Partners. She brings extensive experience in the technology sector including cybersecurity and artificial intelligence. She was previously CEO of IoT and security solutions company Skybitz, and senior director for Microsoft. She is being nominated as chair of the remuneration committee.
Long-Serving Members Step Down
At the same time, George Koukis, Sergio Giacoletto-Roggio and Amy Yip will step down, having served on the board for 19, 8 and 6 years respectively.
Hit by Pandemic
In the statement, Andreas Andreades, executive chairman of Temenos, noted a «significant acceleration in demand for cloud and SaaS from clients.»
However, the firm earlier this week posted a revenue of $193.7 million in the first quarter of 2020, 5 percent less than a year ago. The Geneva-based firm suffered a significant negative impact on licenses in the first quarter due to the Covid-19 pandemic, with a decline in signings particularly acute in Asia and Europe.
As a result, CEO Max Chuard and chairman Andreades said that they would take a 50 percent salary cut, while the executive committee would take a voluntary 25 percent salary cut for the remainder of 2020.
