ALPHARETTA, GA. — Dec. 14, 2016 — Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of next-generation hospitality software solutions and services, has announced the appointment of Ramesh Srinivasan as the company’s new president and chief executive officer, effective January 3, 2017. Srinivasan, who most recently served as CEO of Ooyala, a leading provider of video publishing, analytics and monetization services and a Telstra Corporation subsidiary, will also serve as a member of the Agilysys Board of Directors.
Srinivasan brings to Agilysys more than 30 years of hands-on enterprise software execution and senior technology management leadership and strategy expertise and accomplishments. Prior to joining Ooyala, he served as president and chief executive officer of Innotrac Corporation, where he oversaw the ecommerce fulfillment provider’s merger with eBay Enterprise. Before that, he was president and chief executive officer of Bally Technologies Inc. During his tenure at Bally, where he started as executive vice president of systems in 2005 before being promoted to president and COO in 2011 and then to president and CEO in 2012, the company grew its annual revenue from approximately $500 million in 2005 to approximately $1.2 billion in 2014 and saw a stock price increase of about 700 percent during the same period. Prior to Bally, Srinivasan was with Manhattan Associates for approximately seven years, where he rose from director of technical services to executive vice president.
Michael Kaufman, chairman of the Agilysys Board of Directors stated, "Ramesh’s experience and expertise in driving performance at high-growth technology companies and helping them scale their business will be invaluable for Agilysys. Throughout his career, he has demonstrated tremendous success in formulating clearly defined strategies for growth and profitability, developing and implementing initiatives that have driven outstanding performance in day-to-day operations, increasing customer satisfaction levels, and achieving a high level of execution on global growth opportunities. Ramesh’s leadership will help accelerate our growth as we bring the promise of our products and customer service excellence to fruition.”
Srinivasan’s early agenda will include the implementation of Agilysys’ accelerated investments in its products, sales and services. He will lead the development and execution of go-to-market strategies that better align Agilysys’ products and organizational capabilities with its near-term opportunities to aggressively expand the business with large-scale and international customers.
“This is an exciting time to join Agilysys,” said Srinivasan. “The opportunities to grow the business have expanded dramatically thanks to the continued development of the rGuest® product portfolio, a well-earned reputation for leading customer service, and a clear understanding of hospitality operators’ needs for new technology solutions that help them grow their businesses by keeping them more closely connected to their guests throughout the visit lifecycle. I look forward to meeting and working closely with our customers and working with our team members and our board of directors to implement strategic initiatives that further build our momentum and accomplish our goals of quickly scaling the business across the globe.”
Forward-Looking Language This press release and other publicly available documents, including the documents incorporated herein and therein by reference, contain, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These statements are based on management’s current expectations, intentions or beliefs and are subject to a number of factors, assumptions and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause or contribute to such differences or that might otherwise impact the business include the risk factors set forth in Item 1A of the company’s Annual Report for the fiscal year ended March 31, 2016. Copies are available from the SEC or the Agilysys website. We undertake no obligation to update any such factor or to publicly announce the results of any revisions to any forward-looking statements contained herein whether as a result of new information, future events or otherwise.
