C3 AI Announces CFO Leadership Transition

Rhea-AI Summary

C3 AI appoints Hitesh Lath as CFO, replacing Juho Parkkinen who transitions to VP of Finance. Lath brings two decades of finance and accounting experience from EY to guide the company's growth. CEO Thomas M. Siebel praises Parkkinen's contributions and welcomes Lath's leadership. The company's financial position is strong, with a focus on success in the enterprise AI sector.

Accounting firm veteran and current Chief Accounting Officer Hitesh Lath named CFO; Juho Parkkinen transitions to VP of Finance

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- C3 AI (NYSE: AI), the Enterprise AI application software company, today announced the appointment of Hitesh Lath as Chief Financial Officer (CFO), effective March 1, 2024. Lath will replace Juho Parkkinen, who has held the role since 2021 and will remain at the company as Vice President of Finance. Prior to C3 AI, Lath has held senior finance and accounting leadership roles at EY with two decades of experience servicing the sophisticated needs of technology companies.

“We are pleased to have Hitesh step into the CFO role at C3 AI and help guide our growth,” said C3 AI CEO Thomas M. Siebel. “His deep financial leadership experience makes him an ideal successor to Juho, who has built a strong team with robust financial management and reporting processes that have supported our success over the past three years. I want to thank him for his dedication, helping lead C3 AI to the strong financial position it is in today.”

“Over the past three years, leading the finance and accounting teams at C3 AI has not only been a deeply rewarding experience, but also an incredible learning opportunity,” said Juho Parkkinen, Vice President, Finance, C3 AI. “I’m excited to continue mentoring and serving the C3 AI finance team.”

“Juho has been an excellent leader for C3 AI, managing the company’s IPO process and building an excellent team over the past few years,” said Michael G. McCaffrey, C3 AI Board Member and Chair, C3 AI Audit Committee. “Our finance and accounting department is in great shape for Hitesh whose extensive industry knowledge will be invaluable to the company moving forward.”

“I step into this new role with gratitude for the strong foundation that has been built by Juho,” said Hitesh Lath, Chief Financial Officer, C3 AI. “Since joining C3 AI as chief accounting officer in December 2023, I’ve come to understand how the commitment and expertise of its people drives the company’s success and I am excited to help execute Tom’s vision for success in the enterprise AI category.”

About C3.ai, Inc.

C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Platform, an end-to-end platform for developing, deploying, and operating enterprise AI applications, C3 AI applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally, and C3 Generative AI, a suite of domain-specific generative AI offerings for the enterprise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240227666799/en/

C3 AI Public Relations

Edelman

Lisa Kennedy

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pr@c3.ai

Investor Relations

ir@c3.ai

Source: C3.ai

FAQ

Who is the new CFO of C3 AI?

Hitesh Lath is the new Chief Financial Officer of C3 AI, effective March 1, 2024.

Who was the previous CFO of C3 AI and what role is he transitioning to?

Juho Parkkinen was the previous CFO of C3 AI and is transitioning to the role of Vice President of Finance.

What is Hitesh Lath's background in finance?

Hitesh Lath has two decades of experience in senior finance and accounting leadership roles at EY, specializing in technology companies.

What is the CEO's opinion on Hitesh Lath's appointment as CFO?

CEO Thomas M. Siebel is pleased with Hitesh Lath stepping into the CFO role and believes his financial leadership experience makes him an ideal successor to Juho Parkkinen.

How does Juho Parkkinen feel about his transition to VP of Finance?

Juho Parkkinen finds leading the finance and accounting teams at C3 AI deeply rewarding and sees it as an incredible learning opportunity. He is excited to continue mentoring and serving the C3 AI finance team.