Sumo Logic Inc. (SUMO) Announces CFO Transition and Reaffirms Q2 and FY22 Guidance

August 2, 2021 4:38 PM EDT
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Sumo Logic (Nasdaq: SUMO), the pioneer in continuous intelligence, today announced that Chief Financial Officer Sydney Carey is leaving the company to pursue other opportunities. While she is stepping down today, she will continue as an advisor with the company until December 31, 2021 to ensure a smooth transition.

The company is initiating a comprehensive search for Carey’s successor. Effective today, Ramin Sayar, president and CEO of Sumo Logic, will assume oversight of a newly established Office of the Chief Financial Officer, comprised of Jennifer McCord, VP of Finance and Chief Accounting Officer, Raymond Yue, VP of FP&A and Paul Thomas, VP of Investor Relations and Strategic Finance, until the new CFO is appointed. Carey's departure did not result from any disagreement with the company over its accounting principles or practices or financial statement disclosures.

“We are grateful for all the success we have achieved under Sydney’s leadership,” said Sayar. “Over the last three years Sydney has played a critical role in helping to scale our company, leading us through our initial public offering and building a world class finance organization. On behalf of the management team and board of directors, we wish her the best in her future endeavors.”

“Working with Ramin and the entire Sumo Logic team has been one of the most rewarding experiences of my career,” said Carey. “I’m proud of what we accomplished in my time as CFO and I’m confident in the continued success of Sumo Logic under Ramin’s leadership.”

Sayar added, “We are fortunate to have a strong set of senior finance leaders and operators in the Office of the CFO. They along with our outstanding executive leadership team will guide the company forward as we search for a successor for the CFO role.”

Fiscal 2022 Outlook:Sumo Logic is reconfirming its guidance that it issued in its last earnings release for the second quarter of fiscal 2022 as well as for the full 2022 fiscal year. The company plans to report results for the second quarter of fiscal 2022, ending July 31, 2021, on September 9, 2021.

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