commercetools Announces Appointment of Andrew Burton as New CEO

Rhea-AI Summary

Commercetools announced the appointment of Andrew Burton as its new CEO, effective July 8, 2024. Burton succeeds co-founder Dirk Hoerig, who will transition to Chief Innovation Officer. Burton brings over 25 years of experience, having significantly grown Rapid7's ARR from ~$150M to over $800M. Hoerig will now focus on product innovation and customer relationships.

Recent milestones for commercetools include being named a Leader in the IDC MarketScape report, launching a HIPAA-compliant solution, and introducing commercetools Foundry. The company saw +65% ARR growth in the Americas and a +45% YoY increase in GMV to over $30 billion in 2023. Burton is the third significant hire in the last 18 months, aiming to drive further growth and innovation.

Positive

• Appointment of Andrew Burton as CEO brings 25+ years of experience and a strong track record in driving growth.
• Dirk Hoerig transitions to Chief Innovation Officer, focusing on product innovation and customer relationships.
• Recent milestones: named Leader in IDC MarketScape report, launched HIPAA-compliant solution, and introduced commercetools Foundry.
• +65% ARR growth in the Americas region in 2023.
• GMV increased by +45% YoY to over $30 billion in 2023.

Negative

• Potential concerns about continuity and experience gaps with the CEO transition.

MUNICH, July 10, 2024 /PRNewswire/ -- commercetools, a global commerce company and the market leader in composable commerce, today announced the appointment of Andrew Burton as Chief Executive Officer (CEO), effective July 8, 2024. Burton succeeds Dirk Hoerig, co-founder and CEO of commercetools, who will remain on the Board and transition to the role of Chief Innovation Officer (CIO). In his new position, Hoerig will grow key customer and partner relationships, drive product innovation and advance the company's thought leadership.

"It's an honor to be chosen to lead commercetools into its next chapter of growth and to build on the company's well-known commitment to innovation and customer success," said Burton. "Together, we will continue to push the boundaries of commerce, creating even more value for our customers and partners worldwide, and serving as the bridge for transforming ideas into revenue."

Burton is a seasoned senior business executive with over 25 years of experience building innovative businesses and leading world-class teams to deliver exceptional customer value. With a proven track record in sales and marketing, product and engineering, and operations, Burton has successfully led teams through rapid growth in both public and private markets. He joins commercetools from Rapid7 (NASDAQ: RPD), where he served as president and COO, growing the company from ~$150M ARR to over $800m in ARR. Previously, Burton served as the CEO of Logentries, which was acquired by Rapid7.

"Andrew's impressive strategic and operational track record in driving growth makes him the ideal choice for commercetools at this stage. Given our tremendous growth and expansion over the last several years, the opportunities ahead of us are significant," said Hoerig. "For 14 years, commercetools Platform has served as an inflection point for large enterprises seeking agility and innovation to better serve customers. Throughout our search for the right leader to continue driving our innovative infrastructure forward, Andrew stood out as the clear choice to complement our executive team and lead commercetools into its next chapter of growth and expansion."

Burton's appointment follows several recent major company milestones. In 2024, commercetools was named a Leader in the IDC MarketScape report, launched a HIPAA-compliant and HDS-certified solution, and introduced commercetools Foundry, a solution that enables brands and retailers to launch their e-commerce operations significantly faster and more cost-effectively. The company also recently shared significant 2023 fiscal year results, including +65% ARR growth in the Americas region and a Gross Merchandise Value (GMV) increase of +45% YoY to over $30 billion in 2023.

Burton, commercetools' third major hire in the last 18 months, alongside the company's recently hired chief people and finance officers, will lead the company into its next era of growth, while continuing to invest in innovation and development.

To learn more about commercetools, please visit commercetools.com.

About commercetools

commercetools, a global commerce company, is the market leader in composable commerce. We enable companies to flexibly customize, tailor and scale shopping experiences across markets. Our composable commerce platform equips some of the world's most influential businesses with tools to remain agile, future-proof digital offerings, reduce technical risks and costs, and build outstanding experiences that drive revenue growth.

With headquarters in Munich (Germany) and Durham (US) and employees spread across five continents, commercetools has led a global renaissance in digital commerce by combining cloud-native, technology-agnostic, independent components into a unique system that addresses personalized business needs. We empower brands ––  including Audi, Danone, Eurorail, NBCUniversal, Sephora and Volkswagen Group –– to stay ahead of changes in the market and consumer preferences by powering distinctive, dynamic user experiences.

To learn more, visit commercetools.com.

 

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SOURCE commercetools

FAQ

When was Andrew Burton appointed as CEO of commercetools?

Andrew Burton was appointed CEO of commercetools effective July 8, 2024.

Who did Andrew Burton succeed as CEO of commercetools?

Andrew Burton succeeded Dirk Hoerig, the co-founder of commercetools, as CEO.

What role will Dirk Hoerig assume after stepping down as CEO?

Dirk Hoerig will transition to the role of Chief Innovation Officer.

What recent achievements did commercetools announce in 2024?

Commercetools was named a Leader in the IDC MarketScape report, launched a HIPAA-compliant solution, and introduced commercetools Foundry.

How much did commercetools' ARR grow in the Americas region in 2023?

Commercetools' ARR grew by +65% in the Americas region in 2023.

What was the year-on-year increase in commercetools' GMV in 2023?

Commercetools' GMV increased by +45% YoY to over $30 billion in 2023.

What experience does Andrew Burton bring to commercetools?

Andrew Burton has over 25 years of experience, having grown Rapid7's ARR from ~$150M to over $800M.

What is the significance of Burton's previous role at Rapid7?

As president and COO of Rapid7, Burton successfully led the company to significant growth, increasing ARR from ~$150M to over $800M.