Kinaxis Provides Business Update
September 17 2024 - 6:01AM
Business Wire
Robert Courteau Named Executive Chair, Angel
Mendez Named Lead Independent Director
Kinaxis Inc.® (TSX:KXS) a global leader in end-to-end supply
chain orchestration, is today providing an update on its
business.
The company today announces that Robert Courteau has been named
Executive Chair of Kinaxis, effective immediately, and will serve
in this role until a permanent CEO is in place. Kinaxis previously
announced that John Sicard will be retiring at the end of 2024, and
the search for his successor is well underway. As Executive Chair,
Mr. Courteau will continue to work closely with John Sicard and the
senior leadership team to drive the company’s strategy until a new
CEO is in place.
Kinaxis also announces that Angel Mendez has been appointed Lead
Independent Director of the Board of Directors.
The Board of Directors has taken decisive action in recent
months to refine Kinaxis’ strategy and execution, including
engaging a leading management consultant firm, who has been working
with the company on initiatives that Kinaxis will implement to
increase value, improve profitability margins and capture even more
of the $16B supply chain management software market.
“Kinaxis has positive momentum in its business, has earned a
reputation for its vision and innovation, and is working with focus
and urgency to take the company to the next level,” said Robert
Courteau, Executive Chair. “My focus will be on supporting the
management team in driving the company’s strategy forward. The
Board continues to engage with longer-term and newer shareholders
to elicit their views on the business. I look forward to continuing
to work closely with fellow directors and management to ensure that
the company is optimally positioned to create growing and
sustainable value for shareholders.”
The Board values shareholder feedback and since announcing its
CEO succession, Kinaxis leadership has been speaking with
shareholders and considering the best approaches going forward. The
Board strongly believes that execution of its strategic plan is the
best path to maximize shareholder value. The company continues to
develop and evaluate its plan and has engaged Goldman Sachs to
provide financial advice in this regard.
Kinaxis has a proven track record of success and a reputation
for delivering excellence for customers and shareholders. Kinaxis
is a market leader in AI with its end-to-end orchestration platform
Maestro and is a ten-time Leader in Gartner’s Supply Chain Planning
Solutions Magic Quadrant.
About Kinaxis:
Kinaxis is a global leader in modern supply chain orchestration,
powering complex global supply chains and supporting the people who
manage them, in service of humanity. Our powerful, AI-infused
supply chain orchestration platform, Maestro™ combines proprietary
technologies and techniques that provide full transparency and
agility across the entire supply chain — from multi-year strategic
planning to last-mile delivery. We are trusted by renowned global
brands to provide the agility and predictability needed to navigate
today’s volatility and disruption. For more news and information,
please visit kinaxis.com or follow us on LinkedIn .
Cautionary Note and Forward-Looking Information
This news release contains forward-looking information within
the meaning of Canadian securities legislation. Forward-looking
information relates to future events or the anticipated performance
of Kinaxis and reflects management’s expectations or beliefs
regarding such future events. In certain cases, statements that
contain forward-looking information can be identified by the use of
words such as “plans”, “expects”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“believes” or variations of such words and phrases or statements
that certain actions, events or results “may”, “could”, “would”,
“might”, or “will be taken”, “occur” or “be achieved” or the
negative of these words or comparable terminology. Forward-looking
information in this news release includes statements with respect
to Kinaxis’ market share growth plans and goals. By its very nature
forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual performance
of Kinaxis to be materially different from any anticipated
performance expressed or implied by such forward-looking
information.
Forward-looking information is subject to a variety of risks and
uncertainties, which could cause actual events or results to differ
from those reflected in the forward-looking information, including,
without limitation, the risks described under the heading “Risk
Factors” in the Company’s annual information form dated March 25,
2024 for its fiscal year ended December 31, 2023, under the heading
“Forward-Looking Statements” in our news release dated July 31,
2024, and other risks identified in the Company’s filings with
Canadian securities regulators, which filings are available on
SEDAR+ at https://www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of
the factors that may affect any of the Company’s forward-looking
information. Forward-looking information includes statements about
the future and is inherently uncertain, and the Company’s actual
achievements or other future events or conditions may differ
materially from those reflected in the forward-looking information
due to a variety of risks, uncertainties and other factors. The
Company’s statements containing forward-looking information are
based on the beliefs, expectations, and opinions of management on
the date the statements are made, and the Company does not assume
any obligation to update such forward-looking information if
circumstances or management's beliefs, expectations or opinions
should change, other than as required by applicable law. For the
reasons set forth above, one should not place undue reliance on
forward-looking information.
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version on businesswire.com: https://www.businesswire.com/news/home/20240917134209/en/
For More Information Contact: Media Relations
Belinda Thomas | Kinaxis bthomas@kinaxis.com +1 613 322 9305
Investor Relations Rick Wadsworth | Kinaxis
rwadsworth@kinaxis.com 613-907-7613
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