Altium Limited (ASX:ALU) is expanding its leadership and organisational capacity to drive high performance for market dominance and to further invest in its new cloud platform Altium 365.
The successful launch and the strong early adoption of Altium 365 have created the opportunity to pivot Altium’s leadership and organisation structure strongly toward the ‘cloud’.
Altium is separating its cloud operations from its software business and will focus on growing its market opportunity and expansion into the broader electronics ecosystem.
“Netflix Moment”
Altium’s CEO Aram Mirkazemi said: “The launch of Altium 365 marks a significant turning-point in Altium’s journey.
“We are deep in execution mode toward our dominance and transformation goals.
“This has led to the creation of a new organisational structure to support us on this journey and to drive the high performance required to achieve our goals.
“I refer to this as Altium’s Netflix Moment, which is commonly referred to in the high-tech industry as a hard pivot to the cloud.”
Changes in structure
Under the new organisational structure, Altium’s go-to-market and product development will be divided between cloud and software, each with its leadership and organisational roadmap.
The separation will allow Altium’s cloud business to develop at a different cadence and to form a SaaS-like organizational structure around its product and go-to-market processes.
An additional strategic benefit of the new structure is the separation of high-volume sales from high-touch sales to support Altium’s journey to 100,000 subscribers by 2025 and dominance of the PCB design industry.
New president to focus on cloud
As part of the restructuring, Altium has appointed executive director Sergey Kostinsky to the role of president.
In the new role, Kostinsky will focus on driving high performance in the execution of all operational domains with a particular emphasis on the rapid development and adoption of Altium 365.
Altium chairman Sam Weiss said: “We are excited to see Sergey appointed to the new role of president at Altium.
“Sergey has been the driving force behind Altium’s technology development that underpins the company’s bid for market dominance and to transform the electronics industry.
“Under Sergey’s leadership, Altium’s PCB design tools have become world-class and Altium 365 is set to revolutionise the way that electronic products are designed and manufactured.
“We are confident that Sergey will bring his unique focus on discipline and value to all of Altium’s product development and go-to-market domains to deliver winning outcomes.”
Changes in senior management
As per the restructuring exercise, Joe Bedewi has stepped down as Altium CFO to take the new role of EVP corporate development and external affairs.
This role has been created to capitalise on the growing market opportunity for Altium 365 and the wide interest in it within the entire electronics industry.
The company has also appointed Martin Ive, who led its global finance function for over 15 years and provided strong business support to the sales teams, as new chief financial officer (CFO).
Before joining Altium, Ive held a senior management role at Grant Thornton and he is also a member of the Institute of Chartered Accountants in Australia,
Ive holds a bachelor’s degree from Portsmouth University, UK and an MBA from Macquarie Graduate School of Management in Australia.