Proven leader with strong track record of success in building multi-billion-dollar enterprise and SaaS companies to spearhead Rimini Street’s global sales strategy, execution, and growth
LAS VEGAS -- (BUSINESS WIRE) --
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products, and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced the appointment of Steve Hershkowitz as its new Chief Revenue Officer (CRO).
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“Steve’s leadership and extensive experience scaling businesses to deliver top-line growth will expand our sales reach to capture new logos and increase our opportunity to provide even greater value to our clients,” said Rimini Street president and CEO Seth Ravin. “The global revenue team and I are excited to work closely together with Steve to drive growth and broader capabilities for our company.”
Leading the Next Chapter of Sales Growth and Continued Success for Rimini Street
Prior to joining Rimini Street, Hershkowitz held executive leadership roles at several prominent technology companies, including Cisco Systems and HP/HPE. He also played a key leadership role in the largest business transformation in US history, HP's 2015 split, and was instrumental in creating a new core strategy, divesting businesses, commanding operational turnaround, and establishing HPE as a stronger enterprise high-tech company and global competitor.
Hershkowitz's extensive background includes proven success in scaling enterprise and SaaS software companies in highly competitive markets. With over two decades of experience in leadership roles and full P&L responsibility, Hershkowitz has demonstrated an extraordinary ability to grow multi-billion-dollar businesses and early-to-mid-stage startups.
In his new role, Hershkowitz will oversee all aspects of sales, including the company’s worldwide sales strategy to meet rising market demand and opportunities for Rimini Street’s award-winning support and services.
"I am excited to join the Rimini Street team and contribute to the company's next chapter of growth and continued success," said Steve Hershkowitz, CRO of Rimini Street. "Rimini Street has a strong and mature global sales operation and a full portfolio of proven products, services, and solutions for enterprise software that are still in the global rollout and launch stage. I will be focused on completing the global rollout and launch, scaling the sales operation to achieve accelerating growth while also managing the cost of sales.”
Steve Hershkowitz is a seasoned executive with a strong track record of leading sales growth, managing large enterprise sales, and driving innovation within high-tech firms, contributing to their reputation as a transformational leader with an impressive sales growth track record. Follow him on LinkedIn.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,500 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit riministreet.com, and connect with Rimini Street on Twitter, Instagram, Facebook and LinkedIn. (IR-RMNI)
Forward-Looking Statements
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seem,” “seek,” “should,” “will,” “would” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and costs; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability, manage our cost of revenue and accurately forecast revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel, including sales personnel, and retain key personnel; challenges of managing growth profitably; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; the impact of environmental, social and governance (ESG) matters; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on February 28, 2024, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.
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