- Pivotal Systems Corporation’s (PVS) current Executive Chairman and CEO John Hoffman will step down from the CEO role effective May 31, 2022
- He will continue as Executive Chairman of the company until his retirement on December 31, 2022
- Kevin Hill, Pivotal’s current Chief Operating Officer (COO), will be appointed CEO and an Executive Director, effective June 1, 2022
- Dr Joseph Monkowski, Pivotal’s current President, Chief Technology Officer and Executive Director, will not contest his Executive Director role but will hold the other two
- Pivotal ends the day in the grey with shares trading at 65.5 cents
Pivotal Systems Corporation’s (PVS) current Executive Chairman and CEO John Hoffman will step down from the CEO role effective May 31, 2022.
He will continue as Executive Chairman of the company until his retirement on December 31, 2022.
Kevin Hill, Pivotal’s current Chief Operating Officer (COO), will be appointed CEO and an Executive Director, effective June 1, 2022.
Mr Hill has been Chief Operating Officer since May 2020 and has been instrumental in the delivery of Pivotal’s revenue growth and improvements in product gross margins, according to the company.
He has more than 25 years of global high energy technology management experience.
Prior to joining Pivotal, Mr Hill held senior roles with Apple, IBM, Collins Aerospace, Applied Materials and Flextronics.
“I am honoured to be appointed to the role of Pivotal CEO. Since joining Pivotal as COO, I have been impressed at the quality of our team, our global manufacturing operations and the standout performance of our products in the markets we currently serve,” Mr Hill said.
“I am very excited to be leading Pivotal in the coming months, with 2022 shaping as another strong year of industry growth with Pivotal’s leading-edge products uniquely positioned to capitalize on this strength alongside our OEM and IDM customers.”
Dr Joseph Monkowski, Pivotal’s current President, Chief Technology Officer and Executive Director, has advised Pivotal he will not be seeking re-election to the board once his current term ends.
He will continue as President and Chief Technology Officer.
Finally, Cameron Worsham, the current Vice President – Supply Chain, has been appointed Head of Worldwide Operations.
“These changes announced today will ensure a seamless transition in executive responsibilities and ensure Pivotal Systems continues to build on its recent achievements and focus on creating long-term value for our shareholders,” Mr Hoffman commented.
“As Executive Chairman I will place particular personal focus on our key client relationships and growth opportunities. I look forward to supporting Kevin Hill in his transition to CEO.”
Pivotal has ended the day in the grey with shares trading at 65.5 cents in an $84.19 million market cap.