ServiceSource (SREV) Names Interim CFO; EVP Bonos Resigns

ServiceSource (NASDAQ: SREV) announced executive leadership changes and has reaffirmed the company’s third quarter business outlook.

ServiceSource today announced the following executive appointments and transitions:

• ServiceSource appointed Simon Biddiscombe as interim CFO, effective as of September 29, 2014. Mr. Biddiscombe replaced Ashley Johnson, who became Acting CEO in August, when Mike Smerklo stepped down as CEO after an 11-year tenure. Mr. Biddiscombe joins ServiceSource with a 25-year track record in senior leadership roles at leading technology companies.
• Jim Dunham, who previously served as Senior Vice President of Product Management, will succeed Richard Campione as the President of the Cloud & Business Intelligence unit. Having successfully established a strong team and foundation for the Cloud & Business Intelligence unit, Mr. Campione will remain a member of the executive team as an advisor to the CEO on its technology strategy through the end of 2014, at which point he will return to his original role as a Board Director.
• Tom Bonos has resigned from his role as Executive Vice President of Outside Sales to pursue other opportunities. The regional sales leaders will now report in to Ashley Johnson, Acting CEO. The transition will enable Ms. Johnson to drive the customer-centric alignment that is central to ServiceSource’s strategy going forward.

“As we continue to drive the turnaround of our business, the strategic nature of our partnerships with customers underscores the strength of our value proposition,” said Ashley Johnson, Acting CEO of ServiceSource. “In the quarters ahead, as we seek to restore growth and profitability to the company, our guiding principle is alignment with our customers. As such, we expect our leadership, investments, product strategy and service offerings to provide a centralized focus on helping companies retain more customers and expand their recurring revenue businesses.”

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