Irish software firm Performix Technologies has appointed a new chief executive in succession to Cathal McGloin, the ex-Cap Gemini executive who founded the company in 1998.
Taking over the helm is Bill Mahoney, previously of US energy companies Excelergy and SCT, who, according to a Performix press statement, has a strong track record in achieving rapid growth and profitability at these and other companies.
McGloin, who is leaving “to pursue new [business] ventures” according to the statement, recently secured a US$10m funding round to help Performix extend its employee performance management technology to new areas such as back office and business processing. He will remain a shareholder of the company.
He commented: “[Mahoney] brings a compelling combination to the Performix team: strong commercial acumen, experienced marketing focus and the skills needed to spearhead expansion into new market sectors while aligning business operations with the demands of a rapidly evolving marketplace. These abilities will ensure that, as it enters a new era of growth, Performix continues to help its clients maximise the value of their human assets, while maintaining a robust business structure, controlled growth and market leadership as it extends its offering into new industry sectors.”
As president and CEO of Excelergy, Mahoney took the company, in a four year period, to profitability by increasing the company’s revenue by 30pc compound per annum and spearheading expansion into new market sectors, including telecommunications and financial services. Prior to joining Excelergy he spent five years as president of Energy, Utilities & Communications Solutions Inc (part of the SCT Corporation). He brought the company rapidly to profitability and went on to increase revenues from US$11m to US$124m as the company secured a leadership position in its market space.
A 30-year software industry veteran, Mahoney has held a variety of sales, marketing and operational roles in companies including Dun & Bradstreet Software, Computer Consoles, Inc, and Digital Equipment Corporation.
Commenting on his appointment, he said: “Performix presents a great opportunity. In a few short years it has been instrumental in creating the employee performance management market – now estimated to be growing at almost 30pc a year – and, with a 30pc market share, achieved leadership in its chosen sector for market entry, the contact centre industry. Its next objective will be to maintain that position while extending its offering to other highly employee-dependent business areas. With software that’s proven and replicable, an international client base that includes some of the biggest names in telecommunications and financial services, and a strong financial base, the company is well poised for continued growth.”
Performix is headquartered in Burlington, Massachusetts. Its software – which helps companies monitor and improve employee performance – is currently deployed in more than 115 locations across six countries. Customers include Ticketmaster, UBS, The Co-operative Bank, Intelligent Finance, ScottishPower, Cable & Wireless, AOL and O2. Performix has 75 employees and posted revenues of US$11m in 2003.
By Brian Skelly