SAN FRANCISCO--(BUSINESS WIRE)--New Relic, Inc. (NYSE: NEWR), provider of real-time insights for software-driven businesses, announced the promotion of two executives designed to drive the continued growth and success of the company’s customers around the world. EVP of Global Sales, Erica Ruliffson Schultz, has been promoted to Chief Revenue Officer. Reporting into New Relic CEO and Founder Lew Cirne, Schultz will be responsible for driving the company’s entire Go-To-Market organization, including Alliances & Channels, Marketing and Technical Sales, Services and Support, in addition to her previous responsibilities running the global sales organization. In addition, SVP of Global Technical Sales, Services and Support, Roger Scott, has been promoted to EVP, Chief Customer Officer. Reporting into Schultz, he will assume responsibility for Customer Success, Renewals and New Relic University, in addition to his existing responsibilities.
These executive promotions come as New Relic kicked off its new fiscal year on April 1st and prepares for its annual Sales kick-off next week. Over the past three years through December 31, 2017, the company’s revenue has grown at a 47 percent compounded annual growth rate, while the percentage of annualized recurring revenue (ARR) coming from enterprise paid business accounts has grown from approximately 30 percent to 52 percent of total ARR over the same period. At the same time, the company reported in February that it counts over 50 percent of the Fortune 100 as customers and has over 2,000 enterprise paid business accounts.
Under the leadership of Schultz and Scott, the company’s Go-To-Market organization has been aligned to partner closely with customers around their critical digital teams and priorities. By increasing end-user adoption and standardization on the New Relic Platform, enterprises including 21st Century Fox, American Eagle Outfitters, Ancestry.com, BJ’s Wholesale Club, Inc., Citrix, Cox Enterprises, Domino’s Pizza Enterprises Ltd, IBM, John Lewis Plc, McCormick & Company, News Corp, Ocado, and U.S. Auto Parts Network, Inc., West Corp. are able to get more value from their investment with New Relic by helping them accelerate their cloud adoption and DevOps transformation initiatives.
“Over the past several years, Erica and Roger have been instrumental in driving New Relic’s growth and helping us become a trusted partner to many of the world’s most important companies. In their new roles, they will continue to be focused on accelerating our customers’ success,” said Cirne.
“Modern companies are under intense pressure to deliver value to their customers faster in the digital economy. New Relic plays an important role in helping them increase their pace of innovation,” said Schultz. “In my expanded role, I look forward to building upon a go-to-market practice that has made New Relic indispensable to customers, as they master the complexity of modern software, embrace cloud technologies and DevOps practices, and succeed in digital moments of truth with their customers.”
“New Relic is committed to delivering on our promise to help customers accelerate their adoption of the cloud, reduce their time to deploy new features, and reduce their mean time to resolution of critical service issues,” said Scott. “We will continue to partner with leading companies around the world to help them leverage New Relic’s platform to successfully drive critical business initiatives.”
This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding the benefit of recent executive promotions to the company and its customers. The achievement or success of the matters covered by such forward-looking statements are based on New Relic’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause New Relic’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect New Relic’s financial and other results and the forward-looking statements in this press release is included in the filings New Relic makes with the SEC from time to time, including in New Relic’s most recent Form 10-Q for the quarterly period ended December 31, 2017, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at https://ir.newrelic.com or the SEC's website at www.sec.gov. New Relic assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
About New Relic
New Relic provides the real-time insights that software-driven businesses need to innovate faster. New Relic’s cloud platform makes every aspect of modern software and infrastructure observable, so companies can find and fix problems faster, build high-performing DevOps teams, and speed up transformation projects. Learn why more than 50% of the Fortune 100 trust New Relic at newrelic.com.
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