Sumo Logic Appoints John D. Harkey, Jr. to Board of Directors
May 03 2022 - 4:54PM
Sumo Logic (Nasdaq: SUMO), the SaaS analytics platform to enable
reliable and secure cloud-native applications, today announced that
it has appointed John D. Harkey, Jr. to its Board of Directors,
effective immediately. With this addition, the Sumo Logic Board
will consist of ten directors, eight of whom are independent.
The appointment of Mr. Harkey is part of a mutual cooperation
agreement (“the agreement”) with Scalar Gauge Fund, L.P.
(“Scalar Gauge”). Additionally, Sumo Logic has agreed with Scalar
Gauge to collaborate on an ongoing process aimed at identifying and
appointing an additional director.
“We are looking forward to working with John,” said Ramin Sayar,
President and CEO of Sumo Logic. “John brings over 25 years of
experience as a private investor and chief executive, in both
public and private companies across a wide range of industries.
Sumo Logic has strong momentum with accelerating revenue growth
backed by a refreshed and best in class go-to-market strategy. We
welcome John’s fresh perspective on the Company’s operations and
strategy to drive profitable growth and stockholder value.”
“We’re pleased to have worked constructively with the Sumo Logic
Board to reach this understanding with the Company and believe
adding John to the Board will contribute to unlocking the
tremendous value in the business,” commented Sumit Gautam, Founder
and Portfolio Manager of Scalar Gauge. “Sumo Logic has
differentiated products that customers love and we look forward to
seeing the Company continue to execute on opportunities to drive
profitable growth ahead. We are confident that John’s experience
can bring additional perspective and insight to the Board and
management team.”
Pursuant to the agreement, Mr. Harkey will be appointed to the
Board’s Audit Committee and Compensation and Talent Committee.
Scalar Gauge has agreed to customary standstill, voting, and
other provisions. The full agreement between Sumo Logic and Scalar
Gauge will be filed on a Form 8-K with the SEC.
About John D. Harkey, Jr.
John D. Harkey, Jr. is the Founder of JDH Investment Management,
LLC. John is an entrepreneur, businessman and philanthropist and
has served on the board of directors of eight (8) public companies
in energy, aerospace, telecommunications, biotech and restaurants,
and private companies in healthcare, animal health, farm and ranch
products and software development. He is Co-Founder and formerly
Executive Chairman of the Board of AveXis, Inc., which was acquired
in 2018 by Novartis AG. AveXis develops proprietary gene therapies
for Spinal Muscular Atrophy, a previously incurable children’s
disease. He is also Chairman of the Board of Dialectic
Therapeutics, Inc., which is developing cancer immunotherapies. He
is also a Co-Founder and currently serves on the Board of Cessation
Therapeutics, a developer of vaccines for addictions to fentanyl,
heroin and nicotine. He serves on the Board of Directors of Durvet,
Inc., one of the nation’s largest distributors of animal healthcare
products. He also serves on the boards of MD Anderson Cancer
Center, Baylor Healthcare Foundation, the State Fair of Texas, the
Dallas Arboretum and the Circle Ten Council of the Boy Scouts of
America. He was a lead investor and served on the Board of CerSci
Therapeutics, which has a primary compound for a non-opioid severe
pain reliever. CerSci was acquired in 2020 by Acadia
Pharmaceuticals. He is formerly the Chairman of the Board of
Regency Gas Partners, L.P. and has served on the Board of Directors
of the Energy Transfer LP companies. He formerly served on the
Board of Directors of Loral Space & Communications, Inc., which
merged with Telesat, and on the Board of Directors of Emisphere
Technologies, Inc. which was acquired by Novo Nordisk, and formerly
served on Board of Directors of Leap Wireless International, Inc.,
which was acquired by AT&T.
About Sumo Logic
Sumo Logic, Inc. (Nasdaq: SUMO) empowers the people who power
modern, digital business. Through its SaaS analytics platform, Sumo
Logic enables customers to deliver reliable and secure cloud-native
applications. The Sumo Logic Continuous Intelligence Platform™
helps practitioners and developers ensure application reliability,
secure and protect against modern security threats, and gain
insights into their cloud infrastructures. Customers around the
world rely on Sumo Logic to get powerful real-time analytics and
insights across observability and security solutions for their
cloud-native applications. For more information, visit
www.sumologic.com.
About Scalar Gauge Fund
Scalar Gauge Fund is a special situations investment firm
utilizing a private equity approach in public markets. The fund
invests with a long-term view, and often works with management
teams, boards and other strategic investors to help create
shareholder value. For more information, please visit
www.scalargauge.com.
Forward-Looking Statements
This press release contains expressed and implied
forward-looking statements including but not limited to
expectations regarding the benefits of our offerings, our growth
strategy and investments, and our ability to achieve success.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond our control. Our actual results could differ materially
from those stated or implied in forward-looking statements due to a
number of factors, including but not limited to our ability to
achieve and maintain future profitability, our ability to sustain
and manage our growth, our ability to successfully add new features
and functionality to our platform, our ability to compete
effectively in an increasingly competitive market, general market,
political, economic and business conditions, and other risks
detailed in our Annual Form 10-K for the year ended
January 31, 2022 filed with the SEC on March 14, 2022, which
should be read in conjunction with this press release.
Past performance is not necessarily indicative of future
results. The forward-looking statements included in this press
release represent our views as of the date of this press release.
These forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release. We anticipate that subsequent events and
developments could cause our views to change. We undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Media Contacts:
Carmen HarrisSumo Logiccharris@sumologic.com(650) 414-1584
Scott Bisang / Dan MooreJoele Frank, Wilkinson Brimmer
Katcher(212) 355-4449
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