ServiceSource Appoints Chad Lyne as Global Strategy Head
SAN FRANCISCO – April 26, 2016 – ServiceSource® (NASDAQ:SREV), the global leader in customer and revenue lifecycle solutions, today announced that the company has appointed Chad Lyne as Senior Vice President of Strategy and Corporate Development. Lyne brings over 15 years of strategic planning, corporate development and mergers and acquisitions experience to ServiceSource’s executive leadership team, and will play a central role in accelerating the company’s growth and margin profile through organic and inorganic initiatives.
“ServiceSource is well-positioned to capitalize on its leadership position in the Revenue Lifecycle Management (RLM) industry, and Chad is an ideal addition to my senior team to help us execute on our long-term strategy and vision,” said Christopher Carrington, CEO of ServiceSource. “Having previously worked with Chad at two different companies, I know that he is a high-impact professional with a proven track record implementing strategic change and transformation that generate value for clients and investors. His depth of experience will be a welcome asset to ServiceSource as we continue to execute on our sustained return to accelerated revenue growth and profitability.”
“I am thrilled to join the ServiceSource team at this exciting time in the company’s evolution,” said Lyne. “Chris has assembled a world-class leadership team that has made tremendous progress strengthening ServiceSource’s value proposition and market position over the past year, and I look forward to helping push the Company further forward in its growth transformation. ServiceSource is uniquely positioned to broaden and extend its suite of best-of-breed RLM capabilities to deliver even greater value for its blue-chip client base and further differentiate the company as an innovative category leader.”
Prior to joining ServiceSource, Lyne served as Global Vice President – Strategy & Corporate Development at SYKES Enterprises, Inc. (NASDAQ: SYKE), a global BPO with more than 50,000 employees, where he led digital transformation efforts and successfully completed over $225 million in acquisitions. Lyne joined SYKES from Alpine Access, a cloud-based technology-enabled services company where as VP of Strategy & Corporate Development he helped support a tripling of revenue and its ultimate sale to SYKES for $150 million. Previous to Alpine Access, Lyne spent a decade in private equity and investment banking.
ServiceSource (NASDAQ:SREV) provides the world’s leading B2B companies with expert managed services, best-practice processes, and cloud software proven to increase customer success, drive revenue growth and decrease churn from existing customers. ServiceSource’s solutions help companies with onboarding and adoption, upsell and cross-sell, retention and renewals—across the entire revenue lifecycle. Only ServiceSource brings to market more than 15 years of exclusive focus on customer success and revenue growth, global deployments across 40 languages and 150 countries, and a powerful, purpose-built recurring revenue technology platform. Thanks to ServiceSource, another customer is renewed every 47 seconds. For more information, go to www.servicesource.com.
This press release contains forward-looking statements, including statements regarding the prospects for ServiceSource’s business and offerings. These forward-looking statements are based on our current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from those expressed or implied in our forward-looking statements. Those risks and uncertainties include, without limitation, fluctuations in our quarterly results of operations; the risk of material defects or errors in our software offerings or their failure to meet customer expectations; migrating customers to our SaaS offerings and the ability to integrate such offerings with other thi rd-party applications used by our customers; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; our ability to grow the market for service revenue management; our ability to protect our intellectual property rights; the risk of claims that our offerings infringe the intellectual property rights of others; changes in market conditions that impact our ability to sell our SaaS solutions and/or generate service revenue on our customers' behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; demand for our offering that falls short of expectations; our ability to keep customer data and other confidential information secure; our ability to adapt our solution to changes in the market or new competition; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which can be obtained online at the Commission's website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements.