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Anaplan said on Tuesday it snagged longtime Silicon Valley
finance executive Frank A. Calderoni to fill the top job at the
company, which had been vacant since former CEO Frederic
Laluyaux abruptly resigned early last year.
Among Calderoni's key tasks will be readying the company for an
IPO, which is widely expected to take place this year. San
Francisco-based Anaplan makes software that helps businesses
with planning and forecasting.
"The company has been working toward being ready for an IPO,"
Calderoni told Reuters on Friday. "The market has opened up. My
goal is to make sure we're ready."
Calderoni, 59, has spent the last 17 years as chief financial
officer at technology companies such as Cisco Systems Inc <CSCO.O>
and SanDisk LLC <SNDK.MX>, often in tandem with a role in
operations. Most recently, he has served as chief financial
officer and executive vice president of operations at Red Hat
Inc <RHT.N>, an enterprise software company, where he will
depart this month after less than two years.
He will join Anaplan on Jan. 23 as president, CEO and member of
the board. It will be Calderoni's first stint at a privately
held startup.
He said he is encouraged by the successes of the few tech
companies that went public in the past few months, such as
Nutanix Inc <NTNX.O> and Twilio Inc <TWLO.N>, whose stocks
continue to trade above their IPO price.
Anaplan, which is not profitable, said last year it was on track
to surpass $100 million in annual revenue. The company operates
in 21 countries and has more than 600 customers and about the
same number of employees.
Calderoni plans to have a profitability timeline - perhaps a
couple years down the road - to share with IPO investors.
"We need to be able to demonstrate that we're going to be
around," he said.
Anaplan's investors include Shasta Ventures, Salesforce Ventures
and DFJ venture capital. Most of the $90 million from the
company's most recent financing a year ago, which came with a
$1.1 billion valuation, is still in the bank, the company said.
(Reporting by Heather Somerville; Editing by Lisa Shumaker)
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