Kinaxis Provides Business Update
Business Wire
Tuesday, September 17, 2024, 4:01 AM
Article Content:
KXSCF
Robert Courteau Appointed Executive Chairman; Angel Mendes Named Lead Independent Director
Ottawa, Ontario, Canada, September 17, 2024 — Kinaxis Inc.® (TSX: KXS), a global leader in end-to-end supply chain orchestration, provided an update on its business today.
The company announced that Robert Courteau will assume the role of Executive Chairman effective immediately and until a permanent CEO is appointed. The previously announced CEO John Sicard will retire at the end of 2024, with the search for his successor actively underway. As Executive Chairman, Courteau will continue to work closely with John Sicard and the senior leadership team to drive the company’s strategy until the new CEO takes over.
Kinaxis also announced that Angel Mendes has been appointed as Lead Independent Director of the Board.
The board has taken decisive action in recent months to optimize Kinaxis’ strategy and execution, including collaborating with a leading management consulting firm to advance a series of initiatives that Kinaxis will implement to enhance value, improve margins, and further expand its share in the $16 billion supply chain management software market.
“Kinaxis has made significant progress in our business and is recognized for our vision and innovation. We are focusing with urgency on driving the company to new heights,” said Robert Courteau, Executive Chairman. “My focus will be on supporting the management team as we drive forward the company’s strategy. The board will continue to engage with long-term and recent shareholders to seek their views on the business. I look forward to continuing close collaboration with directors and management to ensure that the company can deliver sustained growth and long-term value for our shareholders.”
The Board values shareholder feedback, and since announcing its CEO succession plan, Kinaxis leadership has been in communication with shareholders and considering the best path forward. The board firmly believes that executing its strategic plan is the best way to maximize shareholder value. The company will continue to develop and evaluate its plans and has engaged Goldman Sachs Group for financial advice.
Kinaxis boasts a strong track record of success and is renowned for delivering exceptional service to both customers and shareholders. Kinaxis leads in the AI market with its end-to-end orchestration platform Maestro™, having been named a leader in Gartner’s Supply Chain Planning Solutions Magic Quadrant ten times consecutively.
About Kinaxis:
Kinaxis is a global leader in modern supply chain orchestration, driving complex global supply chains and supporting the people who manage them. Our powerful AI-infused supply chain orchestration platform Maestro™ combines proprietary technology with expertise to deliver full transparency and agility from long-term strategic planning to “last mile” delivery. We are trusted by some of the world’s most recognized brands for delivering the agility and predictability needed in today’s volatile and disruptive environment. For more news and information, visit kinaxis.com or follow us on LinkedIn.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information involves future events or Kinaxis’ expected performance and reflects management’s expectations or beliefs regarding these future events. In some cases, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “anticipates,” “budgets,” “scheduled,” “estimates,” “forecasts,” “intends,” “projects,” “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur” or “be achieved.” Forward-looking information in this press release includes statements about Kinaxis’ plans and targets for market share growth. Forward-looking information inherently involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from any future results expressed or implied by the forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking information, including but not limited to the risks listed as “Risk Factors” in the company’s Annual Information Form dated March 25, 2024 for its fiscal year ended December 31, 2023 and as “Forward-Looking Statements” in the press release dated July 31, 2024, and other risks identified in documents filed by the company with Canadian securities regulators available on SEDAR+.
The risk factors mentioned above are not an exhaustive list of all possible risk factors that could affect forward-looking information. Forward-looking information includes statements about future events and is inherently uncertain; actual achievements or other future conditions may differ materially from those expressed in the forward-looking information. The forward-looking information made by the company is based on management’s beliefs, expectations and opinions at the date of such statements, and except as required by applicable law, the company does not undertake any obligation to update forward-looking information for any reason. For these reasons, undue reliance should not be placed on forward-looking information.
For the original version of this press release, please visit link.
Contact:
For more information, contact:
Media Relations
Belinda Thomas | Kinaxis
+1 613 322 9305
Investor Relations
Rick Wadsworth | Kinaxis
613-907-7613
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