JERUSALEM (Reuters) – Israeli cloud-based software provider Nice on Thursday tapped SAP executive Scott Russell as its new chief executive, replacing Barak Eilam who is stepping down at the end of the year after a decade as CEO.
Russell, who will take up his new post on Jan. 1, 2025, has for the last 14 years been chief revenue officer of the German software firm and a member of its executive board.
Eilam, who has been at Nice for 25 years in all, had said in May he would step down at year-end but would act as a strategic consultant during the first half of 2025.
The CEO announcement coincided with Nice reporting a higher than expected rise in second-quarter net profit. Diluted earnings per share reached $2.64, excluding one-time items, up from $2.13 a year earlier. Revenue rose 14% to $664.4 million.
Nice had been expected to earn an adjusted $2.58 per share on revenue of $663.5 million, according to LSEG data.
It maintained a 2024 outlook for revenue of between $2.715 and $2.735 billion, up 15% at the midpoint, and raised its adjusted 2024 EPS estimate to between $10.60 and $10.80 – up 22% from 2023 – from $10.53-$10.73.
(Reporting by Steven Scheer; Editing by David Holmes)
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