TORONTO, Sept. 22, 2020 /PRNewswire/ -- BlueCat, the Adaptive DNS Company™, today announced that Stephen Devito has been named Chief Executive Officer effective September 11, 2020. Michael Harris, who has served as BlueCat's CEO for the past eight years, has decided for personal reasons to step down and will remain on the BlueCat Board of Directors. Devito, who joined the company as Chief Financial Officer in February 2018, has also served as Chief Operations Officer since early 2020 and brings over two decades of senior financial and operational leadership to the CEO role.
"Stephen's deep knowledge of the business, cultural fit within the organization and calculated approach to growing the company in strategic areas make him the right choice to lead BlueCat alongside the talented executive team," said Harris. "BlueCat's customers, employees, shareholders and partners know him well and will benefit tremendously from his continued leadership and commitment to building the company's differentiated product portfolio."
Since joining BlueCat, Devito has worked alongside Harris to develop the company's winning strategy and diversified product portfolio, positioning the company to accelerate adoption of Adaptive DNS and drive increased value for customers in the face of today's unpredictable environment. Since March 2020, BlueCat has achieved double-digit net new revenue growth and tripled its logo acquisition compared to the prior year. In addition, during this time the company's customer Net Promoter Score (NPS) remained around 80, far exceeding industry averages for customer satisfaction.
"BlueCat's products are core to enabling the rapid acceleration of change in infrastructure required to achieve the goals of digital transformation," says Devito, "The DDI market has continued to expand to enable hybrid cloud, increase security posture, and drive automation at scale with BlueCat leading the way. I look forward to continuing the incredibly profitable growth trajectory we have established in the space and the success we have enabled for our customers. On behalf of the BlueCat team, I want to thank Michael for his tremendous contributions to this company and many years of dedicated service as we work to build on our significant momentum."
Devito's experience includes an impressive track record serving as the Chief Financial Officer at Marketwired, which he helped sell to Nasdaq in 2016; Second Cup, which he led through an initial public offering (IPO); and Q4 Inc. He is a designated CPA, CA with the Institute of Chartered Professional Accountants of Ontario and holds a Bachelor of Commerce from the University of Toronto.
BlueCat is the Adaptive DNS™ company. The company's mission is to help the world's largest organizations thrive on network complexity, from the edge to the core. To do this, BlueCat re-imagined DNS. The result – Adaptive DNS™ – is a dynamic, open, secure, scalable, and automated resource that supports the most challenging digital transformation initiatives, like adoption of hybrid cloud and rapid application development. Learn more at www.bluecatnetworks.com.