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| Land | Sverige |
|---|---|
| Lista | Large Cap Stockholm |
| Sektor | Informationsteknik |
| Industri | Kommunikation |
Stockholm, Sweden - October 26, 2023 - Sinch, which powers meaningful conversations between businesses and their customers through its Customer Communications Cloud, today announced a new operating model to accelerate its organic growth. The new model increases the focus on customers, unlocks cross- and upselling, and leverages the company's global scale in Product and R&D. Implementation of the new model implies thorough integration of multiple acquired entities into joint organizations so that efficiency gains and cost synergies can be reinvested into initiatives that drive growth.
The changes reflect a commitment to organize around customers at a time when technology is surpassing what was previously thought possible.
"Rapid digitalization and advances in technology and AI are causing businesses throughout the world to reconsider and reevaluate how they service and communicate with their customers. Sinch has the products, capabilities, and expertise to deliver against these new requirements, but we can do much more to improve our commercial velocity, win new customers, and drive growth", comments Sinch CEO, Laurinda Pang.
The new operating model organizes Sinch's customer-facing functions into three strong geographical regions addressing customer demand for Sinch's entire product portfolio. The new structure creates a more efficient go-to-market engine that will support customers in key markets around the world.
Product and R&D will be centralized to better leverage Sinch's global scale, gain efficiencies, and accelerate innovation. A single global organization for product strategy and product management will report to a Chief Product Officer, with a global Chief Technology Officer taking responsibility for Sinch's R&D and platform operations.
"Sinch has a leading global position in an exciting and growing market. The changes that we have announced positions our company for growth by organizing our efforts around our customers and reducing duplication, allowing us to invest in growth while maintaining profitability," continues Laurinda Pang.
Financial reporting
The new organization is expected to be implemented by January 1, 2024. Sinch's financial reporting will remain unchanged throughout 2023 but will be updated to reflect these changes in the first half of 2024.
Whereas the organizational changes will unlock resources through increased efficiency and reduced duplication, Sinch's ambition is to reinvest these savings into initiatives that drive growth. With implementation during the first half of 2024, Sinch expects to see results during the second half of 2024.
Possible non-recurring charges and other financial implications will be communicated when Sinch publishes its results for the fourth quarter 2023, on February 15, 2024.
Changes to management
The Americas region will include both North and Latin America and will be Sinch's largest region, contributing more than half of Sinch's overall revenues and gross profit. To lead the region, Sinch has recruited Julia Fraser as EVP, Americas. Julia Fraser brings more than 20 years of experience from technology, telecoms and software, and joins Sinch from a recent position as Senior Vice President, Customer Success, at Lumen Technologies.
The EMEA region will be led by Nicklas Molin as EVP, EMEA. Nicklas Molin joined Sinch in 2016 and the Global Leadership Team in early 2023. The APAC region will be led by Damien Tabor in an interim capacity. Damien Tabor is currently CFO of Sinch's SMB business unit and will assume responsibility for APAC until a permanent recruitment has been completed.
The global CTO organization will be led by Brett Scorza, who currently leads Sinch's Voice business. Prior to Sinch, Brett Scorza served as CIO for Inteliquent, which was acquired by Sinch in 2021. The global product organization will be led by Sean O'Neal, who joined Sinch in October 2022 to lead Sinch's SMB-focused software business.
Josh Odom has decided to step down from his operational leadership role at Sinch but will remain a key advisor to the CTO and CPO on technology and innovation topics. Petter Bengtsson will maintain his focus on North America, reporting to Julia Fraser.
Effective January 1, 2024, Sinch's Global Leadership Team will include:- Laurinda Pang, CEO
- Brett Scorza, Chief Technology Officer
- Christina Raaschou, Chief Human Resources Officer
- Cristina David, Chief Information Officer
- Damien Tabor, APAC (interim)
- Jonathan Bean, Chief Marketing Officer
- Julia Fraser, EVP Americas
- Nicklas Molin, EVP EMEA
- Roshan Saldanha, Chief Financial Officer
- Sean O'Neal, Chief Product Officer
- Sibito Morley, Chief Data and Transformation Officer
- Thomas Heath, Chief Strategy Officer
Sinch will present its financial results for the third quarter on November 7, 2023. Management will be available to answer questions regarding this announcement on that day.
For more information, contact:
Ola Elmeland
Investor Relations Director
Mobile: +46 721 43 34 59
E-mail: investors@sinch.com
Om Sinch
Sinch powers meaningful conversations between businesses and their customers through its Customer Communications Cloud. More than 150,000 businesses - including many of the world's largest tech companies - rely on Sinch and its global super network, which is the most secure and reliable network for messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in Stockholm, Sweden, with shares traded at NASDAQ Stockholm: XSTO:SINCH. Learn more at sinch.com (http://www.sinch.com).