Backblaze Names Marc Suidan Chief Financial Officer
Rhea-AI Summary
Backblaze (Nasdaq: BLZE), a cloud storage company, has appointed Marc Suidan as its new Chief Financial Officer, effective August 16, 2024. Suidan, with over 20 years of experience, has a strong background in technology and media sectors. He previously held leadership roles at PricewaterhouseCoopers and McKinsey & Company, and was most recently CFO at The Beachbody Company. CEO Gleb Budman praised Suidan’s expertise and leadership, highlighting their importance in driving growth and shareholder value. Suidan will replace Frank Patchel, who is retiring in Q3 2024. Patchel was commended for his contributions, including leading the company through its IPO.
Positive
- Marc Suidan's appointment as CFO could drive financial growth and innovation.
- Suidan brings over 20 years of experience, including leadership roles at major firms like PricewaterhouseCoopers and McKinsey & Company.
- Suidan's previous role as CFO at The Beachbody Company demonstrates his capability in managing publicly held companies.
Negative
- Frank Patchel's retirement could lead to a transition period with potential uncertainties.
News Market Reaction 1 Alert
On the day this news was published, BLZE gained 24.47%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN MATEO, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced Marc Suidan is joining the company as Chief Financial Officer (CFO), effective August 16, 2024.
“I am excited to welcome Marc as our Chief Financial Officer,” said Gleb Budman, Backblaze CEO and Chairperson of the Board. “He has deep knowledge and experience strategically guiding companies through financial growth. His expertise and leadership will be a valuable asset as we empower customers to move to an open cloud and to do more with their data.”
Suidan brings to Backblaze more than 20 years of experience and a proven track record of driving shareholder value, growth, and innovation at technology companies. His background includes leading a publicly held company as CFO, and advising and leading companies of all sizes in the technology and media industries, including numerous storage and software as a service (SaaS) cloud companies. He has held leadership positions with PricewaterhouseCoopers, McKinsey & Company, and others. Most recently, he was the CFO of The Beachbody Company (NYSE: BODi).
“I believe that Backblaze is uniquely positioned for success in the cloud services industry and their vision to lead and grow the open cloud ecosystem is what drew me to the company,” said Suidan. "I'm excited to join Backblaze and lead the financial organization as we continue to drive strong growth, increase profitability, and deliver shareholder value.”
Suidan succeeds Frank Patchel, who, as previously announced, will retire from the company in Q3 2024.
“I would like to thank Frank for all of his contributions to Backblaze,” said Budman. “He’s been an integral part of our company’s success, especially leading us through our successful IPO and for years after. We greatly appreciate his years of service and wish him well in retirement.”
About Backblaze
Backblaze is the cloud storage innovator providing a modern alternative to traditional cloud providers. We deliver high-performance, secure cloud object storage that customers use to develop applications, manage media, secure backups, build AI workflows, protect from ransomware, and more. Backblaze helps businesses break free from the walled gardens that traditional providers lock customers into, enabling them to use their data in open cloud workflows with the providers they prefer at a fraction of the cost. Headquartered in San Mateo, CA, Backblaze (NASDAQ: BLZE) was founded in 2007 and serves over 500,000 customers in 175 countries around the world. For more information, please go to www.backblaze.com.
Press Contact:
Jeanette Foster
Communications Manager, Backblaze
jfoster@backblaze.com
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