Manhattan Associates Announces CEO Succession

Rhea-AI Summary

Manhattan Associates (NASDAQ: MANH) announced a significant leadership transition as President and CEO Eddie Capel will retire effective February 12, 2025, moving to the role of Executive Vice-Chairman of the Board. Eric Clark, current CEO of NTT Data North America, will succeed Capel as CEO and join Manhattan's Board.

Capel, who joined Manhattan in 2000 and became CEO in 2013, led the company to become a leading global technology provider in supply chain and omnichannel commerce. Clark brings extensive experience from leadership positions at NTT Data Services, ServiceNow, Dell, Hewlett Packard Enterprise, and other major technology companies.

The transition follows a comprehensive 24-month CEO succession planning process. Manhattan Associates will hold a live webinar discussing the transition on February 12, 2025, hosted by Truist Securities.

Positive

• Planned and orderly CEO succession after 24-month planning process
• Retiring CEO remains involved as Executive Vice-Chairman
• Incoming CEO brings extensive technology leadership experience from major companies

Negative

• None.

Insights

Corporate Strategy Analyst

The carefully orchestrated CEO transition at Manhattan Associates reflects a well-executed succession strategy, with several notable aspects that warrant investor attention. The 24-month comprehensive succession planning process demonstrates strong corporate governance and suggests a thoroughly vetted selection in Eric Clark.

Clark's appointment is particularly strategic given his background leading NTT Data North America's digital transformation initiatives. His experience in modernizing technology operations aligns perfectly with Manhattan's need to maintain its competitive edge in an increasingly cloud-native supply chain software market. His track record at ServiceNow, Dell and HP Enterprise brings valuable enterprise software expertise that could accelerate Manhattan's cloud transition and expand its enterprise customer base.

The retention of Eddie Capel as Executive Vice-Chairman provides important continuity, especially for maintaining key customer relationships and product vision. This structured transition approach typically helps preserve enterprise value and minimize disruption to ongoing strategic initiatives. The timing of this change, coming from a position of strength with the company described as 'exceptionally strong' across multiple dimensions, reduces execution risk.

For investors, CEO transitions in enterprise software companies historically present both opportunities and risks. While the market often responds cautiously to leadership changes, Manhattan's strong market position and the complementary skill sets between Capel and Clark create a favorable foundation for continued growth. The focus should be on monitoring any subtle shifts in strategic direction, particularly in areas like cloud transformation, artificial intelligence integration and global market expansion, where Clark's experience could accelerate existing initiatives.

Eddie Capel Retires as President & CEO; Succeeded by Eric Clark

ATLANTA--(BUSINESS WIRE)-- Today the Board of Directors of Manhattan Associates Inc. (NASDAQ: MANH) announced that Eddie Capel, Manhattan’s President and CEO, will retire from his position effective February 12, 2025. He will continue to serve Manhattan in the role of Executive Vice-Chairman of the Board, assisting with CEO transition and special projects. Mr. Capel will be succeeded by Eric Clark, who has been serving as CEO of NTT Data North America. Mr. Clark will also join the Manhattan Board.

Mr. Capel joined Manhattan in June 2000, and, after serving in various operations and technology roles, became its Chief Operating Officer in January 2011 and President and CEO in January 2013.

Mr. Clark joined NTT Data Services in 2018, leading the development of capabilities and insights to help clients modernize and transform their technology operations. In October 2022, he became CEO of NTT Ltd. Americas, a leading IT infrastructure and services company that combined with NTT DATA in April 2024, upon which Mr. Clark became CEO of the combined entity NTT Data North America. Earlier in his career, Mr. Clark held numerous global, senior leadership positions with ServiceNow, Dell, Hewlett Packard Enterprise, Arthur Andersen Business Consulting, Ernst & Young and Bank of America.

John Huntz, Manhattan’s Chairman, commented, “Eddie Capel has accomplished a great deal as CEO setting our strategic direction, building our winning team and creating shareholder value. During his tenure as CEO, Manhattan solidified its position as a leading global technology provider and innovator in both supply chain and omnichannel commerce. The Board thanks Eddie for his dedication to Manhattan over the last 25 years and for working diligently with the Board during our comprehensive CEO succession planning process over the last 24 months. We look forward to his continued involvement as Executive Vice-Chairman and as a member of the Board of Directors.”

Mr. Capel stated, “This is an ideal time for a CEO transition. Our company is in an exceptionally strong position strategically, competitively, operationally and financially. I want to thank our management team and our entire workforce, which is second to none, for their hard work and dedication to our mission of advancing global commerce through advanced technology. I look forward to working closely with Eric and continuing to contribute to our product vision, interacting with our customers and partners, and ensuring the growth and success of Manhattan Associates. And I have confidence that under Eric’s leadership, the team will continue to capitalize on our many market opportunities and extend our global leadership position.”

Regarding his appointment, Eric Clark commented, “Manhattan’s impact on global commerce continues to be considerable, and the greatest opportunities clearly are still in front of us. I could not be more excited to work with Eddie, the Board and the management team to build on Manhattan’s prior achievements and chart the course for our future success.”

Manhattan also announced that it will hold a live webinar hosted by Terry Tillman, Managing Director, Equity Research, at Truist Securities, on Wednesday, February 12, 2025, at 1:00 p.m. Eastern Time. Investors are invited to listen through the Investor Relations section of the Manhattan Associates website at ir.manh.com.

ABOUT MANHATTAN ASSOCIATES

Manhattan Associates is a global technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for our customers.

Manhattan Associates designs, builds and delivers leading edge cloud solutions so that across the store, through your network or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit www.manh.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250210935455/en/

Michael Bauer

Senior Director,

Investor Relations

Manhattan Associates, Inc.

678-597-7538

mbauer@manh.com

Devika Goel

Senior Manager,

Public Relations

Manhattan Associates, Inc.

678-597-6754

dgoel@manh.com

Source: Manhattan Associates

FAQ

When will Eddie Capel step down as CEO of Manhattan Associates (MANH)?

Eddie Capel will retire as President and CEO of Manhattan Associates (MANH) effective February 12, 2025.

Who will be the new CEO of Manhattan Associates (MANH)?

Eric Clark, current CEO of NTT Data North America, will succeed Eddie Capel as CEO of Manhattan Associates.

What role will Eddie Capel take after stepping down as MANH CEO?

Eddie Capel will serve as Executive Vice-Chairman of the Board, assisting with CEO transition and special projects.

How long was the CEO succession planning process for MANH?

Manhattan Associates conducted a comprehensive CEO succession planning process over 24 months.

What is Eric Clark's background before joining Manhattan Associates (MANH)?

Eric Clark was CEO of NTT Data North America and held senior leadership positions at ServiceNow, Dell, Hewlett Packard Enterprise, Arthur Andersen Business Consulting, Ernst & Young, and Bank of America.