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Mendix Appoints New CFO, Completing Transformation of Leadership Team to Drive Next Phase of Hypergrowth
Tom Ellison joins industry-leading low-code pioneer bringing two decades of experience in technology companies
? Ellison assumes the CFO role from Tim Srock, who recently moved up to become the Mendix CEO
? With a proven track record in achieving the financial and performance goals for high-growth companies, Ellison joins Mendix's C-suite team to help drive the company's next stage of global hypergrowth
? With Gartner projecting 70% of all software development to take place on low-code or no-code platforms, Mendix is positioned to continue its hyper-growth trajectory, which has seen it post 300% growth in annual recurring revenue (ARR) since it was acquired by Siemens
BOSTON, June 8, 2022 /PRNewswire/ -- Mendix, a Siemens business and global leader in modern enterprise application development, today announced the appointment of the company's new CFO, Tom Ellison. Ellison, a former midwesterner now working from the company's Rotterdam headquarters, takes on the role previously held by Tim Srock, who recently took the reins as Mendix's new CEO. Ellison will play a leading role in helping Mendix achieve its ambition for hypergrowth as the company expands operations across Europe, North America, and Asia-Pacific.
Mendix is cited as a visionary leader in Gartner's Magic Quadrant for Low-Code Enterprise Application Platforms, and Magic Quadrant for Multiexperience Development. The company is meeting the groundswell of interest in low-code technology from enterprises around the world seeking to accelerate the time-to-impact of digital solutions and transform software development from a cost center to the cornerstone of enterprise innovation. Ellison joins Mendix's senior leadership team in its efforts to center Mendix at the heart of the enterprise software stack.
A native of Vincennes, Indiana, with an MBA from Indiana University in Bloomington, Ellison has been based in Europe for the past fifteen years leading financial teams for American and European technology companies. "Coincidentally, my own career journey led me to work for organizations competing with Siemens in three different areas," he said. "As a member of Mendix's senior management team, I may be unique in that regard."
Ellison joins Mendix directly from ServiceNow, where he spent four years in Amsterdam as the senior director of finance. Previously, Ellison worked at other high-growth technology companies including Dassault Systemes, Hutchinson 3G, and Nortel.
Ellison's experience will be invaluable as the next stage of Mendix's journey unfolds. Its 'ecosystems solutions' strategy includes partnering with integrated software vendors (ISVs) and targeted vertical industries to leverage the Mendix Solutions Platform and Mendix Marketplace to expand into new lines of business and adaptive solutions.
According to Gartner analysts, 70% of new applications developed by organizations will use low-code or no-code technologies by 2025. These findings, coupled with his SaaS experience, ignited Ellison's interest in low-code software development. "I was seeing the complexity and challenges in digital business transformation. It was a big eye-opener for me," said Ellison. "Mendix is positioned right in the sweet spot where the future of enterprise software development is playing out. Low-code is an equalizer. As someone who believes in unlocking potential for employees and customers for success, I am excited to join Mendix at such a pivotal point in the company's journey."
Ellison added, "In the past, digital transformation sat squarely within the domain of IT departments and every technology advancement created a massive backlog of digitalization projects. But with proper governance, low-code empowers all employees to help drive business-critical software projects in parallel with larger IT-driven transformation projects. The additional capacity and business expertise unlocks new sources of revenue and customer engagement at an accelerated pace. Market pressures are compelling enterprises to accelerate their digital transformation efforts. Mendix delivers the collaboration, agility, speed, integration with emerging technology, and laser focus on employee and customer requirements that enterprises need to succeed."
According to Mendix CEO Tim Srock, "We are delighted to add Tom to our leadership team and believe he will be an important part in the next stage of the Mendix journey. We have outlined our strategy for the future, which includes building a comprehensive ecosystem that positions Mendix at the center of enterprise application development. Tom's experience in organizations that have been through this stage of growth will be an asset for our entire team."
In a digital-first world, customers want their every need anticipated, employees want better tools to do their jobs, and enterprises know that sweeping digital transformation is the key to survival and success. Mendix, a Siemens business, is quickly becoming the engine of the enterprise digital landscape. Its industry-leading low-code platform and comprehensive ecosystem integrates the most advanced technology to support solutions that boost engagement, streamline operations, and relieve IT logjams. Built on the pillars of abstraction, automation, cloud, and collaboration, Mendix dramatically increases developer productivity and empowers a legion of not-so-technical, 'citizen' developers to create apps guided by their particular domain expertise, facilitated by Mendix's engineered-in collaborative capabilities and intuitive visual interface. Recognized as a leader and visionary by leading industry analysts, the platform is cloud-native, open, extensible, agile, and proven. From artificial intelligence and augmented reality to intelligent automation and native mobile, Mendix is the backbone of digital-first enterprises. The Mendix enterprise low-code platform has been adopted by more than 4,000 leading companies in 46 countries.
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