Kinaxis Provides Business Update
17.09.2024 - 13:32:16Kinaxis Provides Business Update. Robert Courteau Named Executive Chair, Angel Mendez Named Lead Independent Director
The company today announces that Robert Courteau has been named Executive Chair of Kinaxis, effective immediately, and will serve in this role until a permanent CEO is in place. Kinaxis previously announced that John Sicard will be retiring at the end of 2024, and the search for his successor is well underway. As Executive Chair, Mr. Courteau will continue to work closely with John Sicard and the senior leadership team to drive the company’s strategy until a new CEO is in place.
Kinaxis also announces that Angel Mendez has been appointed Lead Independent Director of the Board of Directors.
The Board of Directors has taken decisive action in recent months to refine Kinaxis’ strategy and execution, including engaging a leading management consultant firm, who has been working with the company on initiatives that Kinaxis will implement to increase value, improve profitability margins and capture even more of the $16B supply chain management software market.
“Kinaxis has positive momentum in its business, has earned a reputation for its vision and innovation, and is working with focus and urgency to take the company to the next level,” said Robert Courteau, Executive Chair. “My focus will be on supporting the management team in driving the company’s strategy forward. The Board continues to engage with longer-term and newer shareholders to elicit their views on the business. I look forward to continuing to work closely with fellow directors and management to ensure that the company is optimally positioned to create growing and sustainable value for shareholders.”
The Board values shareholder feedback and since announcing its CEO succession, Kinaxis leadership has been speaking with shareholders and considering the best approaches going forward. The Board strongly believes that execution of its strategic plan is the best path to maximize shareholder value. The company continues to develop and evaluate its plan and has engaged Goldman Sachs to provide financial advice in this regard.
Kinaxis has a proven track record of success and a reputation for delivering excellence for customers and shareholders. Kinaxis is a market leader in AI with its end-to-end orchestration platform Maestro and is a ten-time Leader in Gartner’s Supply Chain Planning Solutions Magic Quadrant.
About Kinaxis:
Kinaxis is a global leader in modern supply chain orchestration, powering complex global supply chains and supporting the people who manage them, in service of humanity. Our powerful, AI-infused supply chain orchestration platform, Maestro™ combines proprietary technologies and techniques that provide full transparency and agility across the entire supply chain — from multi-year strategic planning to last-mile delivery. We are trusted by renowned global brands to provide the agility and predictability needed to navigate today’s volatility and disruption. For more news and information, please visit kinaxis.com or follow us on LinkedIn .
Cautionary Note and Forward-Looking Information
This news release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Kinaxis and reflects management’s expectations or beliefs regarding such future events. In certain cases, statements that contain forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur” or “be achieved” or the negative of these words or comparable terminology. Forward-looking information in this news release includes statements with respect to Kinaxis’ market share growth plans and goals. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Kinaxis to be materially different from any anticipated performance expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 25, 2024 for its fiscal year ended December 31, 2023, under the heading “Forward-Looking Statements” in our news release dated July 31, 2024, and other risks identified in the Company’s filings with Canadian securities regulators, which filings are available on SEDAR+ at https://www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
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