The Village View

Tuesday, August 21, 2007 adds another president to ranks, hires new CFO

Wasn't it just last year that Steve Cakebread was considering leaving Now he's going to be president, or more accurately, one of four presidents. He is, however, giving up his CFO role.

What's interesting is that they are hiring a traditional software guy as their new CFO. I think it was Dennis who made the point in an email to the Enterprise Irregular group, about the irony that a company whose motto is "No Software" keeps hiring big enterprise software company execs. (I think he made the comment after hired Rene Bonvanie, ex-SAP. see here and here). Obviously, as an employee of a big enterprise software company, I have no problem with it. My sense that it's another data point to suggest that will continue to evolve to look more like a traditional software company. (Another if true, would be what I hear anecdotally, that they are hiring more Account Executives i.e., sales guys and that the mix of Sales and Marketing spend is moving in the Sales direction). Graham Smith has an impressive background. But make no mistake, it's an enterprise software background.

Graham Smith joined Advent in January 2003 and has assumed the role of Chief Financial Officer. From 2002 to 2003 he served as Chief Financial Officer of Vitria Technology, an enterprise application integration software company. From 1998 to 2002 Graham served as Chief Financial Officer of Nuance Communications, a voice recognition software company. From 1987 to 1998 he worked for Oracle Corporation in various senior finance roles, most recently as Vice President of Finance for worldwide operations. Graham holds a B.Sc. from Bristol University in England and is a member of the Institute of Chartered Accountants in England and Wales.

I used to compete against Advent when I worked at Thomson Financial. And in fact, I know several ex Thomson folks that work there now.


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