As Mark Moffat assumes leadership at IFS, the company will continue its mission of developing and delivering cloud enterprise software for companies globally engaged in manufacturing, distribution, asset management, and service operations.
IFS, the global cloud enterprise software company, marks a strategic transition with the appointment of Mark Moffat as Chief Executive Officer (CEO), succeeding Darren Roos, who assumes the role of Chair of the Board. This leadership change builds on IFS’s successful trajectory as a leading vendor for Asset & Service Management software and reflects careful succession planning over the past six months.
Mark Moffat, previously IFS’s Chief Customer Officer, brings a wealth of experience in technology leadership, having held senior positions at PwC before joining IFS. The transition underscores the company’s commitment to seamless leadership transitions and continuity in its growth strategy.
Mark Moffat, CEO, IFS said, “It is a great honor for me to lead IFS as we embark on this next chapter of growth. The business has immensely strong foundations to build upon and we have been putting all the right ingredients in place to continue to deliver on our strategy: a differentiated proposition, a hugely advanced and capable AI-based product, an engaged customer base, a motivated partner ecosystem, and of course our talented employee base.” Moffat continued: “I want to recognize and thank Darren for the impact he has had as my predecessor. I look forward to working with him in his new capacity as IFS’s Chair of the Board.”
During Darren Roos’s tenure as CEO, IFS achieved remarkable milestones, witnessing a threefold increase in overall revenues. Roos played a pivotal role in IFS’s transformation into a true cloud business, with 79% of total revenue now recurring. Under his leadership, IFS became a trusted vendor, particularly for industry-focused applications managing assets, people, and customers.
Darren Roos, Chair of the Board, IFS said, “I am thrilled to appoint Mark as my successor. He has a proven track record, brings a strong network, and is a great leader that people want to follow. I am proud of all that has been achieved since I joined IFS and want to thank the thousands of women and men throughout the business who have lived our shared values and made our customers successful. I am pleased to be continuing my journey with IFS, albeit in a different capacity. There is so much opportunity in the market and, together with the Board, I will work with Mark and his team to ensure we effectively capture it. I take over as Chair of the Board from Jonas Persson, who I want to thank for his great governance and counsel over the years.”
EQT, Hg, and TA Associates, the trio of world-class investors backing IFS since 2022, collectively bring decades of software experience, positioning IFS for its next wave of growth. IFS is set to release its financial results for FY2023 on January 30, 2024.
Johannes Reichel, partner, EQT (majority owner of IFS) said, “Darren and the leadership team have delivered phenomenal results in turning IFS into one of the fastest growing software businesses operating at scale. Mark has the right background and ambition that will enable IFS to take advantage of the opportunity ahead, and we look forward to him partnering with Darren as our new Chair of the Board. I also want to thank Jonas Persson who leaves the IFS Board, having been the Chairperson since EQT acquired the business. He will continue to serve as a Senior Advisor to EQT and is the Chairperson at several other EQT-owned software businesses.”
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As Mark Moffat assumes leadership at IFS, the company continues its mission of developing and delivering cloud enterprise software for companies globally engaged in manufacturing, distribution, asset management, and service operations. IFS’s single-platform approach integrates industry-specific products with a unified data model, incorporating embedded digital innovation to empower customers at the critical “Moment of Service.” This transition signifies IFS’s commitment to sustained growth and innovation in the evolving landscape of enterprise software solutions.
Question- Who is the new CEO of IFS?
Answer- Mark Moffat
Question- What position will Darren Roos assume after stepping down as CEO?
Answer- Chair of the Board
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