Form 8-K SERVICESOURCE INTERNATIO For: May 21
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 21, 2015
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ServiceSource International, Inc.
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Delaware |
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001-35108 |
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81-0578975 |
(State or other jurisdiction |
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(Commission |
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(IRS Employer |
634 Second Street
San Francisco, California 94107
(415) 901-6030
Not applicable
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 21, 2015, Michael A. Smerklo resigned as Chairman and member of the Board of Directors (the "Board") of ServiceSource
International, Inc. ("ServiceSource" or, the "Company"), effective as of the closing of the Company's Annual Shareholder Meeting on May 28, 2015. The
decision of Mr. Smerklo to resign is not the result of any disagreement with ServiceSource on any matter relating to its operations, policies or practices. The Company greatly
appreciates the contributions Mr. Smerklo has made to ServiceSource. On May 22, 2015, the Board accepted Mr. Smerklo's resignation and, in accordance with the Company's bylaws, resolved to reduce the number of
authorized members of the Board from ten to nine directors, effective as of the closing of the Company's Annual Shareholder Meeting on May 28, 2015. On May 26, 2015, the Company issued a press release announcing Mr. Smerklo's resignation. A copy of the press release is attached as Exhibit 99.1 to this
current report on Form 8-K. Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press release dated May 26, 2015
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 26, 2015
SERVICESOURCE INTERNATIONAL, INC. |
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By: |
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/s/ Matthew Goldberg |
Name: |
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Matthew Goldberg |
Title: |
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Vice President, General Counsel |
EXHIBIT INDEX
Exhibit |
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Description |
99.1 |
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Exhibit 99.1
ServiceSource Chairman Announces Retirement From Board of Directors
BOARD CHAIR AND FORMER SERVICESOURCE CEO MIKE SMERKLO TO FOCUS ON VENTURE INVESTMENTS
San Francisco - May 26, 2015 -
ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue growth and customer success management, today announced that Chairman of the Board Mike Smerklo has decided to retire from the company's Board of Directors. After 11 years at the helm of ServiceSource, including taking the company public in 2011, Smerklo retired as the company's CEO in August 2014 and continued in the role of Chairman of the Board. Smerklo departs the board now to focus full time on his venture investments."In 2014, I continued to work as ServiceSource's Chairman of the Board in order to usher ServiceSource into a new era where we would expand upon its market-leading position serving the world's most prominent B2B brands," said Smerklo. "When the Board named Christopher Carrington as ServiceSource's new CEO, I worked closely with him to ensure a smooth transition and since his appointment I could not be more pleased with the strategy and vision he's brought to ServiceSource. After more than twelve years working with ServiceSource, I am proud of what the team has achieved building on top of our strong foundation and I look forward to seeing ServiceSource's continued success under Christopher's leadership."
Smerklo's resignation will be effective as of the closing of the company's annual shareholder meeting on May 28, 2015.
"On behalf of the Board and the ServiceSource management team, I want to thank Mike for his incredible leadership and many contributions to the company over the past twelve years," said Carrington. "Mike was instrumental in establishing this company as the global leader in recurring revenue and developing enduring customer relationships that have paved the way for ServiceSource's continued success. I look forward to building on the foundation he established as we now take a leading role in the market for revenue lifecycle management solutions."
About ServiceSource
ServiceSource (NASDAQ: SREV) provides the world's leading B2B companies with expert managed services, best-practice processes, and cloud software proven to
increase customer success, drive revenue growth and decrease churn from existing customers. ServiceSource's solutions help companies with onboarding and adoption, upsell and
cross-sell, retention and renewals-across the entire revenue lifecycle. Only ServiceSource brings to market more than 15 years of exclusive focus on customer success and
revenue growth, global deployments across 40 languages and 150 countries, and a powerful, purpose-built recurring revenue technology platform. Thanks to ServiceSource,
another customer is renewed every 47 seconds. For more information, go to
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the prospects for ServiceSource's business and offerings. These forward-looking
statements are based on our current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from those expressed or implied in
our forward-looking statements. Those risks and uncertainties include, without limitation, fluctuations in our quarterly results of operations; the risk of material defects or errors in our
software offerings or their failure to meet customer expectations; migrating customers to our SaaS offerings and the ability to integrate such offerings with other third-party
applications used by our customers; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; our ability to grow the
market for service revenue management; our ability to protect our intellectual property rights; the risk of claims that our offerings infringe the intellectual property rights of others;
changes in market conditions that impact our ability to sell our SaaS solutions and/or generate service revenue on our customers' behalf; the possibility that our estimates of service
revenue opportunity under management and other metrics may prove inaccurate; demand for our offering that falls short of expectations; our ability to keep customer data and other
confidential information secure; our ability to adapt our solution to changes in the market or new competition; general political, economic and market conditions and events; and other
risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which can be obtained
online at the Commission's website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we
assume no obligation to update these forward-looking statements.
Connect with ServiceSource:
http://www.facebook.com/ServiceSource
http://twitter.com/servicesource
http://www.linkedin.com/company/servicesource
http://www.youtube.com/user/ServiceSourceMKTG
Media Contacts for ServiceSource
Crishel Bonfante
415 901 5919
Monica Petraitis
Barokas PR for ServiceSource
206 264 8220
Trademarks
ServiceSource, Renew OnDemand, Scout and any ServiceSource product or service names or logos above are trademarks of ServiceSource
International, Inc. All other trademarks used herein belong to their respective owners.
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