Temenos Group announces CEO and Chairman succession plans
16 February 2011
Andreas Andreades takes up role of board chairman
Guy Dubois appointed as new group chief executive officer
George Koukis steps down as chairman to become non-executive director
GENEVA, Switzerland 16th February 2011, Temenos (SIX: TEMN), the global provider of banking software, today announced its CEO and chairman succession plans. Effective from 1 July 2011, George Koukis, current chairman and founder of Temenos, will take on the role of non-executive director; Andreas Andreades, currently chief executive officer, will step into the role of chairman and Guy Dubois, joining from MACH Group, will become the company’s new chief executive officer. Subject to shareholder approval, Guy Dubois will also join the board of directors as of 1 July 2011.
Guy Dubois brings significant experience to the role of chief executive officer, much of it gained in the software industry and has a strong track record of success. Since 2009, Dubois has served as president and CEO of MACH Group. MACH is the leading provider of hub-based mobile communications exchange solutions. Before joining MACH, he was the executive vice president and president of product business of Amdocs, responsible for global product strategy and direction, sales and marketing, customer service and professional services. Prior to Amdocs, he was president and CEO of Cramer Systems where he led the company through a period of record growth and product portfolio expansion. Between 2001 and 2005, he was executive vice president at PeopleSoft Corporation, where he led overall strategy, business development and execution for all company activities outside North America.
George Koukis, chairman and founder, said that the Temenos board had unanimously backed Dubois’ appointment from among the more than 30 candidates considered. He highlighted Dubois’ differentiating attributes as being strong execution skills, ability to lead top performing teams, wealth of software industry expertise and consistent achievement of outstanding results in all assignments undertaken - as well as an abundance of personal qualities. He added, “Andreas has over the years gained the immense respect of all Temenos’ customers, employees and shareholders through achievement of outstanding results and effective leadership of the company. I am convinced that his leadership and vision and the continuity he will provide will prove a key success factor for the future. I feel that with Andreas as chairman and Guy as CEO, we have a much more powerful team to secure the future growth of our business. As the founder of Temenos, I take immense pride for what has been achieved but also recognise the potential of the company for increased success.”
Andreades commented,” I am delighted to welcome Guy to the team, who I firmly believe has the right skills sets, experience and fit with the Temenos culture to take the company to the next level. After 12 years at Temenos and eight years as CEO I am looking forward to working with the team to continue to achieve outstanding results for all stakeholders. Temenos is uniquely placed and has a tremendous market opportunity both in the short and long term. As chairman I will ensure a smooth succession and continue to contribute with my vision and passion to see Temenos established as the leader in banking software for years to come.”
Dubois remarked, “Temenos is the market leading core banking software company. It has outstanding people, a large and enviable customer base, a state of the art product and a track record which makes it the most exciting application software business in the world today. It is a great honour to join its leadership team and have the opportunity to build on its success. I look forward to working with the board and the management team to continue to grow the company and cement its leadership in the long term.”
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About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with more than 60 offices worldwide, Temenos serves over 1100 customers in more than 120 countries. Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600 implementations around the globe. Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos is top of the IBS Sales League Table 2009; winner every year since its launch of the Best Core Banking Product in Banking Technology magazine’s Readers’ Choice Awards. Temenos customers are proven to be more profitable than their peers: data from The Banker – top 1000 banks shows that Temenos’ customers enjoy a 54% higher return on assets, a 62% higher return on capital and a cost/income ratio that is 7.2 points lower than non-Temenos customers. For more information please visit www.temenos.com
For more information, contact:
Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com
Sarah Bowman
Associate Director, Investor Relations
Tel: +1 646 472 8069
Mob: +1 646 752 5463
Petra Shuttlewood
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: pshuttlewood@temenos.com
Claire Barry
Hudson Sandler for Temenos
T +44 (0)20 7710 8940
Email: cbarry@hudsonsandler.com