Cerence Names Tony Rodriquez as Interim Chief Financial Officer

Rhea-AI Summary

Cerence (NASDAQ: CRNC) has appointed Antonio ('Tony') Rodriquez as Interim Chief Financial Officer, effective June 4, 2024. Tony Rodriquez brings over 25 years of financial leadership experience in various sectors, including eCommerce, SaaS, and consumer marketing. He will oversee the company's finance organization, encompassing accounting, tax, FP&A, treasury, facilities, and procurement. Rodriquez is a partner at CSuite Financial Partners and previously served as CFO of The Bouqs Company and TouchCommerce. CEO Stefan Ortmanns expressed confidence in Rodriquez's ability to contribute to the team while the search for a permanent CFO continues.

Positive

• Appointment of an experienced financial leader as interim CFO.
• Tony Rodriquez brings over 25 years of experience in finance and accounting.
• Rodriquez has a background in diverse industries, including eCommerce, SaaS, and advertising media.
• Rodriquez will oversee key financial functions: accounting, tax, FP&A, treasury, facilities, and procurement.
• CEO Stefan Ortmanns expressed confidence in Rodriquez's capabilities.

Negative

• The appointment is temporary, indicating ongoing leadership instability.
• Cerence is still in search of a permanent CFO, which may concern investors.
• Potential disruption during the leadership transition period.
• The interim CFO will need time to acclimate to the company, possibly impacting short-term operations.

BURLINGTON, Mass., June 04, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that it has appointed Antonio (“Tony”) Rodriquez as its interim Chief Financial Officer (CFO), effective June 4, 2024. Mr. Rodriquez brings over 25 years of experience as a financial leader managing all aspects of finance and accounting for both public and private global companies, including in the eCommerce, SaaS, advertising media and consumer marketing industries. As Cerence’s interim CFO, Mr. Rodriquez will lead the company’s finance organization, including accounting, tax, FP&A, treasury, facilities, and procurement.

A Media Snippet accompanying this announcement is available by clicking on this link.

Mr. Rodriquez has served as a partner of CSuite Financial Partners, a financial executive services firm, since 2018, where he served as chief financial officer of The Bouqs Company from 2019 to 2023. Previously, he served as Chief Financial Officer of TouchCommerce Inc. from 2010 to 2018. He began his career at KPMG LLP, where he serviced international public and private companies in the manufacturing, retail, distribution, and technology sectors as an assurance senior manager. Mr. Rodriquez holds a B.S. in business and accounting from California State University, Northridge.

“Tony has had a long and distinguished career as a senior finance leader at numerous companies and will surely be an asset to our team,” said Stefan Ortmanns, CEO, Cerence. “I am pleased to welcome Tony on board and look forward to his partnership and support as we continue our search for a permanent CFO.”

Cerence will continue its search for a permanent CFO. To learn more about Cerence, visit www.cerence.com, and follow the company on LinkedIn.

Forward Looking Statements
Statements in this press release regarding: Cerence’s CFO search; and management’s future expectations, estimates, assumptions, beliefs, goals, objectives, targets, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “projects,” “forecasts,” “expects,” “intends,” “continues,” “will,” “may,” or “estimates” or similar expressions) should also be considered to be forward-looking statements. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risk, uncertainties and other factors, which may cause actual results or performance of the company to be materially different from any future results or performance expressed or implied by such forward-looking statements including but not limited to: the highly competitive and rapidly changing market in which we operate; adverse conditions in the automotive industry, the related supply chain and semiconductor shortage, or the global economy more generally; the impacts of the COVID-19 pandemic on our and our customers’ businesses; the impact of the war in Ukraine, conflict between Israel and Hamas and attacks on commercial ships in the Red Sea by the Houthi groups on our and our customers’ businesses; our ability to control and successfully manage our expenses and cash position; escalating pricing pressures from our customers; the impact on our business of the transition to a lower level of fixed contracts, including the failure to achieve such a transition; our failure to win, renew or implement service contracts; the cancellation or postponement of existing contracts; the loss of business from any of our largest customers; effects of customer defaults; our inability to successfully introduce new products, applications and services; our strategies to increase cloud offerings and deploy generative AI and large language models (LLMs), the inability to expand into adjacent markets; the inability to recruit and retain qualified personnel; disruptions arising from transitions in management personnel; cybersecurity and data privacy incidents; fluctuating currency rates and interest rates; inflation; and the other factors discussed in our most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. We disclaim any obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

About Cerence Inc.
Cerence (NASDAQ: CRNC) is the global industry leader in creating unique, moving experiences for the mobility world. As an innovation partner to the world’s leading automakers and mobility OEMs, it is helping advance the future of connected mobility through intuitive, AI-powered interaction between humans and their vehicles, connecting consumers’ digital lives to their daily journeys no matter where they are. Cerence’s track record is built on more than 20 years of knowledge and 475 million cars shipped with Cerence technology. Whether it’s connected cars, autonomous driving, e-vehicles, or two-wheelers, Cerence is mapping the road ahead. For more information, visit www.cerence.com. 

Investors: Rich Yerganian | Tel: 617-987-4799 | Email: richard.yerganian@cerence.com

Media: Kate Hickman | Tel: 339-215-4583 | Email: kate.hickman@cerence.com

FAQ

Who is the new interim CFO of Cerence (CRNC)?

Antonio ('Tony') Rodriquez has been appointed as the interim CFO of Cerence, effective June 4, 2024.

What experience does the new interim CFO of Cerence (CRNC) have?

Tony Rodriquez has over 25 years of experience in finance and accounting, including roles in eCommerce, SaaS, and consumer marketing industries.

When did Tony Rodriquez start his role as interim CFO at Cerence (CRNC)?

Tony Rodriquez started his role as interim CFO at Cerence on June 4, 2024.

What are the responsibilities of Tony Rodriquez as interim CFO at Cerence (CRNC)?

As interim CFO, Tony Rodriquez will lead the finance organization, including accounting, tax, FP&A, treasury, facilities, and procurement.

Is Cerence (CRNC) searching for a permanent CFO?

Yes, Cerence is continuing its search for a permanent CFO despite the interim appointment of Tony Rodriquez.