Workiva Appoints Martin Vanderploeg CEO
David Mulcahy Appointed Chairman
Matthew Rizai Resigns as Chairman and CEO
Company Reaffirms Q2 and Full Year 2018 Revenue Guidance
AMES, Iowa – June 11, 2018 – Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, announces today that its Board of Directors has unanimously named Martin Vanderploeg as Chief Executive Officer. Mr. Vanderploeg continues to serve as President and as a member of the company’s Board of Directors. In addition, the Board elected David Mulcahy as non-executive Chairman of the Board of Directors. Both appointments, which are effective immediately, follow the mutual decision between the Workiva Board and former Chairman and CEO Matthew Rizai that Mr. Rizai will resign from his positions as an officer and director of the company.
“Marty is an experienced public company President and Chief Operating Officer who has driven technological advancements, strong revenue growth and operational excellence since he co-founded the company in 2008,” said David Mulcahy, Chairman of Workiva. “The Board believes that, under Marty’s leadership, Workiva will continue to expand the breadth and depth of what our software does for the world’s most discerning enterprises while delivering high revenue retention rates, achieving world-class customer satisfaction scores, ensuring financial discipline and fostering an award-winning culture of innovation and inclusion.”
“We thank Matt for his contributions over the past 10 years, as both a co-founder and a leader who helped build and scale the company,” said Mulcahy. “The progress we’ve made during Matt’s tenure has laid the foundation for our future growth and success.”
“I am honored and energized to lead Workiva through our next chapter of innovation, platform expansion and revenue growth,” said Vanderploeg. “We have passionate and talented employees, innovative and loyal customers and a software platform that is transforming how teams collaborate with data across the enterprise.”
“With our growing partnership ecosystem and the recent product launch of Wdata that expands our customers’ access and usability of larger data volumes, we believe we are ready to meet our growing customer demand for a broader-based, enterprise-wide Wdesk platform,” Vanderploeg added.
About Martin VanderploegMr. Vanderploeg has previously served as Workiva’s President and Chief Operating Officer. He has over 30 years of experience in mechanical engineering and building and scaling technology companies. Mr. Vanderploeg earned B.S., M.S. and Ph.D. degrees in mechanical engineering from Michigan State University.
About David MulcahyMr. Mulcahy has been a Director of Workiva since its initial public offering in 2014. He also serves as a member of the board of directors, Chairman of the audit committee and a member of the executive committee of American Equity Investment Life Holding Company (NYSE:AEL). He also serves as a member of the board of directors of American Equity Investment Life Insurance Company of New York. Mr. Mulcahy is currently Chairman of Monarch Materials Group, Inc. and President and Chairman of the board of directors of MABSCO Capital, Inc. Previously, he managed private equity capital for numerous banks and insurance companies. He specialized in mergers and acquisitions as a senior tax partner with Ernst & Young, LLP until 1994. Mr. Mulcahy holds a B.B.A. degree in accounting and finance from the University of Iowa.
Reaffirming Revenue GuidanceWorkiva remains confident in its vision and strategy and is reaffirming the second quarter and full year 2018 revenue guidance that the company provided on May 2, 2018. The company plans to update its previously issued guidance on GAAP and non-GAAP loss from operations and loss per share to reflect the impact of separation payments to Mr. Rizai when it reports second quarter financial results in early August.
About WorkivaWorkiva delivers Wdesk, a leading enterprise cloud platform for data collaboration, reporting and compliance that is used by thousands of organizations worldwide, including over 70 percent of the Fortune 500®. Companies of all sizes, state and local governments and educational institutions use Wdesk to help mitigate risk, improve productivity and gain confidence in their data-driven decisions.
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