just a day after announcing a $ 50 million spherical of funding, internet performance management firm Dyn is revealing there’s been a transformation in management — co-founder Jeremy Hitchcock is stepping down as CEO.
“I’ve completed a nice and efficient job of getting the company from A to B, but now I’m thinking about helping the corporate get from B to C,” Hitchcock informed me. “relating to every day leadership, I’ve made the decision that I’m now not the perfect particular person for this particular function.”
Jim Baum, who used to be prior to now chief govt at Netezza and Endeca, is taking on these every day operations — but he’s no longer taking the title of CEO. as a substitute, he’ll continue to serve as executive chairman and work with Dyn’s board of directors to advance a “lengthy-term management technique.” most likely, that implies discovering a brand new CEO, however Baum stated there’s no giant rush on that entrance, and that they received’t make an “abrupt, rash determination.”
Baum and Hitchcock both emphasised that this was very much Hitchcock’s determination, now not one thing that was compelled on him. finally, he started the preliminary DynDNS carrier in his dorm room at Worcester Polytechnic Institute again in 2001, and he’s helped the corporate launch a broader suite of products for managing website availability, safety and speed. the company tasks that it will reach annualized habitual earnings of $ a hundred million later this 12 months.
“We’ve all viewed these items unfold over time,” Baum stated. “i believe there’s nothing odd right here about Jeremy’s decision. What’s bizarre is, I’ll say the grace with which we’re in a position to execute this. … When it’s now not a founder’s choice, you have a tendency to not have this continuity of leadership. You tend to have an immense disruption that causes the corporate to pass over a couple of beats. That’s now not what’s happening right here in any respect.”
As for why the alternate is happening at the same time as the funding announcement (as well as the launch of Dyn’s broader platform for internet performance management), Baum stated, “It’s an obtrusive level in the building of the company. We’re pronouncing, ‘okay right here’s the strategy for firm going forward in IPM, we’ve raised a bunch of capital and it’s time for a leadership trade.’”
at the similar time, Hitchcock mentioned he’s going to stay on Dyn’s board and in addition will remain a full-time employee with the straightforward title of founder. moving forward, he’ll be fascinated with that you can imagine enlargement areas, whether that’s new geographies or new ways to make use of Dyn’s knowledge.
“I’m desirous about how I’ll play this very interdisciplinary role in uncovering probably the most price there and mainstreaming a few of these opportunities into what Dyn can become,” he mentioned.
Featured image: Jeremy Hitchcock
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