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SoftwareOne Appoints Raphael Erb as CEO and Revises Financial Projections
SoftwareOne Holding AG has announced the appointment of Raphael Erb as the new CEO, effective November 1, 2024. Raphael Erb, with a 25-year career at SoftwareOne, succeeds Brian Duffy, who will pursue opportunities in the US. The company also updated its financial guidance for 2024 and beyond.
SoftwareOne's Q3 2024 performance fell short of expectations, influenced by vendor incentive changes and sales execution issues. The firm has revised its 2024 revenue growth outlook from 7-9% to 2-5% year-over-year in constant currency. The adjusted EBITDA margin is now projected at 21-23%, compared to the previous 24.5-25.5%.
Looking forward, SoftwareOne aims for double-digit revenue growth by 2026. Cost-saving measures targeting CHF 50 million are being implemented. The company also reports ongoing discussions about a potential going-private transaction.
R. E.
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