Yossi Carmil to Step Down as CEO After Nearly 20 Years
Cellebrite (NASDAQ: CLBT) announced that CEO Yossi Carmil will step down from his position and Board of Directors by December 31, 2024. Executive Chairman Thomas E. Hogan will serve as interim CEO while the company conducts a formal search for a new chief executive. Under Carmil's 19-year leadership, Cellebrite grew from 18 to over 1,100 employees, expanded to dozen offices worldwide, and serves approximately 7,000 customers in more than 100 countries. Notable achievements include taking the company public in 2021, transitioning to a subscription business model, and launching the AI-driven Case-to-Closure platform. The company's market valuation has doubled to approximately $4 billion since going public.
Cellebrite (NASDAQ: CLBT) ha annunciato che il CEO Yossi Carmil lascerà la sua posizione e il Consiglio di Amministrazione entro il 31 dicembre 2024. Il Presidente Esecutivo Thomas E. Hogan fungerà da CEO ad interim mentre l'azienda condurrà una ricerca formale per un nuovo amministratore delegato. Sotto la leadership di Carmil, durata 19 anni, Cellebrite è cresciuta da 18 a oltre 1.100 dipendenti, è stata espansa in dozzine di uffici in tutto il mondo e serve circa 7.000 clienti in più di 100 paesi. Tra i risultati notevoli ci sono la quotazione dell'azienda nel 2021, la transizione a un modello di business in abbonamento e il lancio della piattaforma AI-driven Case-to-Closure. La valutazione di mercato dell'azienda è raddoppiata, raggiungendo circa 4 miliardi di dollari dalla quotazione.
Cellebrite (NASDAQ: CLBT) anunció que el CEO Yossi Carmil dejará su puesto y la Junta Directiva antes del 31 de diciembre de 2024. El Presidente Ejecutivo Thomas E. Hogan servirá como CEO interino mientras la compañía realiza una búsqueda formal de un nuevo director ejecutivo. Bajo el liderazgo de Carmil durante 19 años, Cellebrite creció de 18 a más de 1,100 empleados, se expandió a docenas de oficinas en todo el mundo y atiende aproximadamente a 7,000 clientes en más de 100 países. Los logros notables incluyen la salida a bolsa de la empresa en 2021, la transición a un modelo de negocio por suscripción y el lanzamiento de la plataforma impulsada por IA Case-to-Closure. La valoración de mercado de la empresa se ha duplicado a aproximadamente 4 mil millones de dólares desde que salió a bolsa.
Cellebrite (NASDAQ: CLBT)는 CEO 요시 카밀이 2024년 12월 31일까지 현재 직책과 이사회에서 물러날 것이라고 발표했습니다. 토마스 E. 호건 이사회 의장이 새로운 CEO를 공식적으로 찾는 동안 임시 CEO로 일할 것입니다. 카밀의 19년 Leadership 하에, Cellebrite는 18명에서 1,100명 이상의 직원으로 성장하고, 전 세계에 수십 개의 사무실을 확장하였으며, 100개 이상의 국가에서 약 7,000명의 고객에게 서비스를 제공합니다. 주목할 만한 성과로는 2021년에 회사의 상장, 구독 비즈니스 모델로의 전환, AI 기반 Case-to-Closure 플랫폼 출시가 있습니다. 상장 이후 회사의 시장 가치는 약 40억 달러로 두 배 증가했습니다.
Cellebrite (NASDAQ: CLBT) a annoncé que le PDG Yossi Carmil quittera son poste et le Conseil d'Administration d'ici le 31 décembre 2024. Le Président Exécutif Thomas E. Hogan assurera l'intérim en tant que PDG pendant que l'entreprise effectuera une recherche formelle pour un nouveau directeur général. Sous la direction de Carmil pendant 19 ans, Cellebrite est passée de 18 à plus de 1 100 employés, s'est étendue à des dizaines de bureaux dans le monde entier et dessert environ 7 000 clients dans plus de 100 pays. Les réalisations remarquables incluent l'introduction en bourse de l'entreprise en 2021, la transition vers un modèle commercial par abonnement et le lancement de la plateforme alimentée par l'IA Case-to-Closure. La valorisation de l'entreprise a doublé pour atteindre environ 4 milliards de dollars depuis son introduction en bourse.
Cellebrite (NASDAQ: CLBT) gab bekannt, dass CEO Yossi Carmil bis zum 31. Dezember 2024 von seiner Position und dem Vorstand zurücktreten wird. Der Executive Chairman Thomas E. Hogan wird als interimistischer CEO fungieren, während das Unternehmen eine formelle Suche nach einem neuen Geschäftsführer durchführt. Unter Carmils 19-jähriger Führung wuchs Cellebrite von 18 auf über 1.100 Mitarbeiter, expandierte in zahlreiche Büros weltweit und bedient etwa 7.000 Kunden in mehr als 100 Ländern. Zu den bemerkenswerten Errungenschaften gehören der Börsengang des Unternehmens im Jahr 2021, der Übergang zu einem Abonnementgeschäftsmodell und die Einführung der KI-gestützten Plattform Case-to-Closure. Die Marktwertung des Unternehmens hat sich seit dem Börsengang auf etwa 4 Milliarden Dollar verdoppelt.
- Market valuation doubled to $4 billion since going public
- Strong customer base of 7,000 clients across 100+ countries
- Successful transition to subscription business model completed
- Company reports strong financial performance and positive outlook
- CEO departure creates leadership uncertainty
- Interim CEO arrangement may impact strategic execution
Insights
The CEO transition at Cellebrite comes at a critical juncture, with the company showing strong performance metrics. Under Carmil's leadership, the company has achieved significant milestones including doubling its market valuation to
The appointment of Thomas Hogan as interim CEO mitigates immediate transition risks. His extensive 40+ year track record in technology and software, combined with his current role as executive chairman since August 2023, suggests continuity in strategic direction. The planned, orderly succession with Carmil remaining until year-end should facilitate a smooth handover.
The company's strong financial performance and market position in digital investigative solutions provide a stable foundation for the leadership transition. Investors should monitor the new CEO selection process and any potential strategic shifts, though the current momentum appears sustainable.
Cellebrite Announces CEO Succession Plan
TYSONS CORNER, Va. and PETAH TIKVA, Israel, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Cellebrite (NASDAQ: CLBT), a global leader in premier Digital Investigative solutions for the public and private sectors, today announced a planned leadership transition following Yossi Carmil’s decision to step down from his current role as CEO and as a member of the Board of Directors by December 31, 2024. The Board has initiated a formal search for a new CEO, retaining an executive recruiting firm to advance this effort. Thomas E. Hogan, Cellebrite’s executive chairman, will serve as interim CEO upon Carmil’s departure and until the search is complete and a new CEO joins Cellebrite.
“Cellebrite is indebted to Yossi Carmil. He is a rare CEO – one who has led the Company from its days as a small entrepreneurial start up through a successful market focus shift, major product and business model transformations, a public listing on Nasdaq and multiple phases of growth to establish Cellebrite’s position as the leading platform for accelerating justice around the world,” said Hogan. “As reflected by our strong financial performance and bright outlook for the future, Cellebrite moves forward extremely well positioned to sustain its business momentum.”
Carmil joined Cellebrite in 2004 as the Company’s fifth employee and became CEO one year later. Under Carmil’s leadership, Cellebrite has grown from 18 people working in a small office in the outskirts of Tel Aviv to over 1,100 people, a dozen offices worldwide and customers in more than 100 countries. Through game-changing innovation, Cellebrite established itself as the leading provider of digital investigative software for the public and private sectors and is trusted by approximately 7,000 customers worldwide. More recently, Carmil has played an instrumental role in leading Cellebrite to achieve a wide range of milestones that include taking Cellebrite public in 2021, completing the transition to a subscription business model, launching Cellebrite’s AI-driven Case-to-Closure platform and delivering consistently strong, profitable growth. As a result, the Company’s market valuation has doubled since going public to approximately
“Leading Cellebrite as CEO for the past 19 years has been an amazing journey and the Company’s success would not have been possible without the support of our customers, partners and investors, and the innumerable contributions from our talented workforce,” said Carmil. “Cellebrite has an incredibly bright future and the timing is right for a new leader to advance our mission and take the Company to the next level. We have assembled a strong leadership team, an exciting technological roadmap and a compelling strategic plan that is aimed at driving value creation for all key stakeholders. I am confident in Cellebrite’s strategic direction and its ability to capitalize on the opportunities ahead.”
Hogan joined Cellebrite as executive chairman in August 2023 and has worked closely with Carmil and the broader Cellebrite leadership team to help advance the Company’s strategy and operational execution. Hogan is a proven technology and software executive with a remarkable 40+ year track record of exceptional shareholder returns, client impact and employee growth. Hogan’s experience includes over a decade as both a private and publicly held software CEO as well as senior executive posts ranging from late stage private to mega-cap public companies.
About Cellebrite
Cellebrite’s (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice and preserve privacy in communities around the world. We are a global leader in Digital Investigative solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite’s Digital Investigation platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more, visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.
Note: References to our website and the websites of third parties mentioned in this press release are inactive textual references only, and information contained therein or connected thereto is not incorporated into this press release.
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References to information included on, or accessible through, websites and social media platforms do not constitute incorporation by reference of the information contained at or available through such websites or social media platforms, and you should not consider such information to be part of this press release.
Caution Regarding Forward Looking Statements
This document includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “will,” “appear,” “approximate,” “foresee,” “might,” “possible,” “potential,” “believe,” “could,” “predict,” “should,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future” and “project” and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include comments related to the timing associated with the CEO succession plan as well as the following statements: We have assembled a strong leadership team, an exciting technological roadmap and a compelling strategic plan that is aimed at driving value creation for all key stakeholders; and I am confident in Cellebrite’s strategic direction and its ability to capitalize on the opportunities ahead – I look forward to seeing all that Cellebrite will accomplish over the coming years. Such forward-looking statements including those with respect to commentary associated with future performance, strategies, prospects, and other aspects of Cellebrite’s business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: Cellebrite’s ability to keep pace with technological advances and evolving industry standards; Cellebrite’s material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite’s DI solutions; Cellebrite’s failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of Cellebrite’s markets; the inadvertent or deliberate misuse of Cellebrite’s solutions; failure to manage its growth effectively; Cellebrite’s ability to introduce new solutions and add-ons; its dependency on its customers renewing their subscriptions; the low volume of business Cellebrite conducts via e-commerce; risks associated with the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with higher costs or unavailability of materials used to create its hardware product components; fluctuations in foreign currency exchange rates; lengthy sales cycle for some of Cellebrite’s solutions; near term declines in new or renewed agreements; risks associated with inability to retain qualified personnel and senior management; the security of Cellebrite’s operations and the integrity of its software solutions; risks associated with the negative publicity related to Cellebrite’s business and use of its products; risks related to Cellebrite’s intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with Cellebrite’s operations in Israel, including the ongoing Israel-Hamas war and the risk of a greater regional conflict; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite’s shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite’s significant international operations; risks associated with Cellebrite’s failure to comply with anti-corruption, trade compliance, anti-money-laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite’s existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite’s current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled “Risk Factors” in Cellebrite’s annual report on Form 20-F filed with the SEC on March 21, 2024 and as amended on April 12, 2024, and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission (“SEC”), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
Contacts:
Investors Relations
Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760
Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910
FAQ
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