Global cloud enterprise software company IFS has announced that it has appointed former Chief Customer Officer Mark Moffat as its Chief Executive Officer (CEO). Moffat takes over from Darren Roos who has been appointed as the company’s Chair of the Board following a six-month transition process.
Moffat is a well-known and respected technology leader. In his previous role as Chief Customer Officer, Moffat oversaw all aspects of IFS’ Customer Services and Success strategy and supported the strategic direction of the company.
Moffat has a wealth of experience working with customers across multiple sectors in some of the largest global multinationals, advising on digital and technology strategy, portfolio strategy, customer and business transformation.
Before joining IFS, Moffat was Chief Technology Officer and Technology Consulting Leader for PwC’s UK and EMEA Consulting business, where he was responsible for delivering leading technology into the heart of the PwC service proposition portfolio.
New CEO Mark Moffat to lead IFS' next chapter of growth
“It is a great honour for me to lead IFS as we embark on this next chapter of growth,” comments Moffat. “The business has immensely strong foundations to build upon and we have been putting all the right ingredients in place to continue to deliver on our strategy: a differentiated proposition, a hugely advanced and capable AI-based product, an engaged customer base, a motivated partner ecosystem, and of course our talented employee base.
“I want to recognise and thank Darren for the impact he has had as my predecessor. I look forward to working with him in his new capacity as IFS’s Chair of the Board.”
Under Roos’ tenure as CEO, IFS has more than tripled its overall revenues and transformed into a true cloud business, from both a product and revenue perspective with 79% of total revenue now recurring (up from 36% when he joined). Thanks to sustained organic growth and customer satisfaction scores that set the industry benchmark, IFS has become the trusted vendor for industry-focused applications that help manage assets, people and customers.
“I am thrilled to appoint Mark as my successor,” Darren Roos, Chair of the Board at IFS, commented. “He has a proven track record, brings a strong network, and is a great leader that people want to follow. I am proud of all that has been achieved since I joined IFS and want to thank the thousands of women and men throughout the business who have lived our shared values and made our customers successful. I am pleased to be continuing my journey with IFS, albeit in a different capacity. There is so much opportunity in the market and, together with the board, I will work with Mark and his team to ensure we effectively capture it.”
IFS is backed by investors EQT, Hg and TA Associates, a group of world-class investors that have been invested as a trio in IFS since 2022 in a transaction valuing IFS at over US$10bn. Together they bring decades of software experience, backing IFS for its next wave of growth.
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