BSG Team Ventures has commenced an executive search for Chief Executive Officer for our private equity backed Internet network hardware OEM client. Seeking a revenue-driven P&L leader with experience in the networks security hardware industry and telecom infrastructure.
Opportunity Overview
Chief Executive Officer
THE COMPANY
A network of innovation
Our client develops innovative solutions used by Fortune 500 customers such as AT&T, Time Warner and the NYSE to analyze, monitor and protect critical data networks and infrastructure. Our client’s products provide connectivity to the network to enable crucial data capture capabilities without compromising the integrity of the network.
Our client’s business has generated good growth momentum, with 2016 sales rising more than 30% on a strong order pipeline, new product introductions and a refocused strategy on blue chip end users and small to medium sized security appliance vendors.
Founded in 1992, our client is headquarted in Syracuse, New York.
MARKET OPPORTUNITY
The Company serves a lucrative segment of the rapidly growing Network Visibility and Monitoring (NVM) market where brand trust, product variability and reliability create significant barriers to entry. The NVM market revenue totaled $925 million in 2015 and that number is expected to grow at a CAGR of nearly 12%. The growing importance of network security, increasing appliance use and system complexity are driving the global NVM market to a value of $1.6 billion by 2019. Telecommunications companies and early technology adopters are showing additional interest in higher speed products (40G and 100G) which will further drive NVM solutions.
Our client's brand is renowned for innovation, product and service quality, and high reliability in securing its customers’ critical data networks. The Company has shipped 57,000 units in the past five years to 50 countries worldwide. Our client is one of the few remaining independent providers in the industry.
The most sophisticated corporations in the world trust our client to monitor and maintain their networks, including NYSE, Visa, AT&T, First Data, Boeing, Deloitte, and over 1,000 other corporations and government departments around the world.
PRODUCTS
Our clients’ products help improve network security and reliability, ensure compliance and enhance the capabilities of other appliances that connect to our client’s products. The Company’s products save customers millions of dollars in information technology expenses annually. Our client’s highly flexible and customized solutions are high margin, non-capital components that offer customers rapid payback in terms of cost savings and network uptime. Our client’s products include network taps, network packet brokers (NPB), bypass switches and accessories which enhance tool utilization, improve network performance and enable corporate compliance for a diversified customer base. More than 15% of annual sales are generated by recurring, high margin software support contracts.
THE POSITION
Our client is looking for a CEO who will partner with its investors and rest of the executive team in a hands-on, active role. Key to the position’s responsibilities is driving sales, business strategy, and company profitability.
The new CEO will help set the strategy and vision of the company, and drive the execution of the business. This is a hands-on role which will require working both inside the company with the product, engineering and marketing teams, and outside with customers, prospects and partner channels.
Success in this role will lean on 3 pillars of skills and experience:
IDEAL CANDIDATE PROFILE
A summary of key competencies required to be successful in this role include the following:
Functional Prior Success
Customer Segment Experience
Management & Leadership Experience
Industry Experience
Stage of Company Experience
General:
Finally, this individual should have as many as possible of the personal traits required to succeed in this leadership position:
Team
Our client’s team currently numbers approximately 21.
Financial Backing
Our client’s control investor is well known private equity firm, Gemini Investors, based in Wellesley, MA.
COMPENSATION
Compensation will be commensurate with the position’s requirements. Since this is a performance-based environment, the successful candidate’s package will include base salary, bonus structure based on corporate qualitative and quantitative strategic KPIs, and a stakeholder position in the company.
For more information, please contact: