Orem, Utah, Oct. 21, 2019 – Avetta, (www.avetta.com) one of the world leaders in providing cloud-based supply chain risk management solutions, announced today that its Board of Directors has appointed Arshad Matin as President and Chief Executive Officer, effective immediately. Mr. Matin will also become a member of the Company’s Board of Directors. Mr. Matin succeeds John Herr, who is stepping down as Chief Executive Officer. Mr. Herr will serve as a strategic advisor to the Board to ensure a smooth transition of leadership.
Mr. Matin brings to Avetta deep experience in successfully leading high-technology and software companies over the past 25 years. Recently, he served as President, Chief Executive Officer and Board member of Paradigm Ltd., a leading developer of software solutions to the global oil and gas industry. Previously, he held senior leadership roles at companies including IHS Markit, Seismic Micro-Technology, Inc., Symantec Corporation and BindView Corporation. For nine years, Mr. Matin was a Partner with McKinsey & Company where he served clients across industries on technology, organization and strategy related issues.
At Avetta, Mr. Matin will be responsible for advancing the Company’s next stage of growth. Avetta has scaled dramatically in recent years and is now poised to capitalize on new opportunities created by its recent acquisitions of eWebOQ and BROWZ and the launch of its new platform – Connect – as well as its Supplier Marketplace.
Christopher J. Hooper, Lead Director of the Board of Avetta, said: “We are pleased to welcome Arshad Matin at this exciting time for the Company. Avetta is accelerating growth and capitalizing on the opportunity to utilize software to enhance safety, sustainability and regulatory compliance outcomes for clients and their suppliers – in North America and internationally. We believe Arshad’s extensive experience scaling software businesses will be invaluable as the Company executes the next phase of its growth strategy. We would like to thank John Herr for his foundational contributions over the past five years in leading Avetta to the strong position it is in today. We wish him all the best in his future endeavors.”
Mr. Matin commented, “I am excited to join Avetta and partner with its talented team. With its market leadership in supply chain risk management, demonstrated value in helping clients and suppliers achieve their business objectives and a mission-driven culture, Avetta has clear competitive advantages on which to build in a highly attractive and growing industry.”
Mr. Herr added, “It’s been a privilege to lead Avetta from its founder-owned phase through the substantial growth we have achieved over the past five years. I am proud of our accomplishments and the Company is in excellent shape to continue to grow and serve our customers and suppliers around the world. I am confident that Avetta is well positioned for the future.”
Mr. Matin will join the Board of Directors alongside representatives from majority investor Welsh, Carson, Anderson & Stowe as well as Technology Crossover Ventures and Norwest Venture Partners and independent directors Shanti Atkins (Navex Global) and Kent Parker (Ariba and FreeMarkets).
Additional biographical background on Arshad Matin
Prior to joining Avetta, Mr. Matin, 55, was the President, Chief Executive Officer and a Board member of Paradigm Ltd., a leading developer of software solutions to the global oil and gas industry, from 2013 to October 2018 at which time it was acquired by Emerson Electric Co. From January 2012 to April 2013, Mr. Matin was Executive Vice President of IHS Markit, a publicly-traded company that is a leading global source of information and analytics. Mr. Matin joined IHS Markit through the acquisition of Seismic Micro-Technology, Inc. (“SMT”), a global leader in the geology and geophysics software market. He joined SMT in July 2007 and served as President, Chief Executive Officer and a Board member.
Before joining SMT, Mr. Matin was General Manager of the enterprise security business unit at Symantec Corporation, which he joined in January 2006 upon the company’s acquisition of BindView Corporation, a global provider of agentless IT security compliance software at which Mr. Matin served as President and Chief Operating Officer. Prior to BindView, Mr. Matin was a Partner at the Houston office of McKinsey & Company from 1995 to 2004. He started his career as a software developer for Mentor Graphics Corporation.
Mr. Matin earned a Master of Business Administration degree from The Wharton School of the University of Pennsylvania; a Master of Science degree in computer engineering from the University of Texas at Austin; and a Bachelor of Engineering degree in electrical engineering from Maulana Azad National Institute of Technology, India.
Mr. Matin serves as a board member for publicly traded ASGN Incorporated, a market leading technology services company which trades on the New York Stock Exchange, and RS Energy Group, a private Canadian company supporting companies in the oil and gas industry with its data analytics and forensic research. He also serves as a board member or trustee on non-profit organizations including the Houston Endowment, Texas Children’s Hospital and St. John’s School.
Avetta leads the world in connecting leading global organizations across several industries including oil/gas, telecom, construction materials, facilities management and many others, with qualified and vetted suppliers, contractors and vendors. The company brings unmatched access and visibility to its clients’ supply chain risk management process through its innovative and configurable technology, coupled with highly experienced human knowledge and insight. We contribute to the advancement of our clients’ sustainable growth by protecting supply chains from a wide range of potential risks through trusted contractor prequalification, safety training and monitoring, regulatory compliance, insurance/financial stability and other areas of risk. Avetta currently serves more than 450 enterprise companies and 90K suppliers across 100+ countries. Visit www.avetta.com for more information.