IO Hires Michael Berry As Company CFO Established CFO Brings Proven Technology Company Experience
PHOENIX, Aug. 22, 2013 /PRNewswire/ -- IO, a global leader in software-defined data centers, today announced Michael Berry has joined the company as Chief Financial Officer. Mr. Berry will be responsible for financial planning and analysis, accounting, operations, treasury activities and investor relations, and will report to CEO and Product Architect, George Slessman.
"I am very happy to have Mike join IO," said Mr. Slessman. "His experience as a proven operational leader and technology executive will support IO's growth and provide a solid financial and operational foundation for the organization."
Mr. Berry joins IO from SolarWinds, a publicly held international provider of IT management software with approximately $300 million in annual revenue and over $3.5 billion in market capitalization where he was Executive Vice President and CFO. He overhauled the company's financial planning process and was instrumental in completing ten acquisitions and leading the maintenance renewal team to strong and consistent revenue growth. From a financial perspective, during Mr. Berry's tenure the company achieved non-GAAP operating profit of greater than 50 percent for eleven straight quarters, and increased operating cash flow by 33% while growing total revenue by 28% on an annualized basis. Prior to SolarWinds, Mr. Berry was CFO at i2 (NASDAQ: ITWO), a publicly held, international provider of supply chain software and services. At i2, he rebuilt and scaled the finance and investor relations organizations, led the implementation of several financial planning systems, and played a key role in several strategic initiatives including the acquisition of i2 in January 2010 by JDA Software.
"I could not be more excited about joining IO," said Michael Berry, IO's new CFO. "Our leadership position in the foundation technology of the cloud, visionary leadership, marquis enterprise customers and disruptive technology, combined with my experience building the financial and operational foundation for proven technology companies, is a once in a lifetime opportunity. It is truly a great fit that aligns very well with my personal and professional goals and objectives."
Prior to his CFO experience, Mr. Berry served in various executive roles at The Reynolds and Reynolds Company, a provider of software and services to the retail automotive industry, most recently as Senior Vice President of Solutions Management, Development and Operations. He has also held executive management positions at Comdata Corporation and Travelers Express Co. (now MoneyGram International). Mr. Berry is currently a Member of the Board of Directors and Audit Committee Chairman for Rapid7, a privately-held security software company based in Boston, Mass.
IO is a global leader in software-defined data centers and has pioneered the next generation of data center infrastructure technology. IO's integrated hardware and software data center technology platform offers enterprises, governments, and service providers an innovative way to deploy, provision, and optimize data center capacity anywhere in the world. IO technology lowers the total cost of data center ownership compared to traditional data centers, enabling dynamic deployment and intelligent control based on the needs of IT equipment and applications in the data center.
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