GoTo’s Chief Financial Officer is taking over as the company’s Chief Executive Officer from the former GoTo CEO, Paddy Srinivasan.
The new CEO of GoTo, Rich Veldran, will continue to oversee the company’s finances while implementing its growth strategy, according to the flexible-work software provider,
Srinivasan served as CEO of GoTo for nearly ten years, but he has now chosen to leave the company to become the CEO of Digital Ocean, a cloud service provider that helps developers at start-ups to build, deploy, and scale their businesses.
Mike Kohlsdorf, the Chairman of the Board of GoTo, believes Veldran has the ability to take the company forward:“We are excited for Rich to step into the Chief Executive role at this important time for the company.
“He brings a deep understanding of the business and is well-positioned to continue driving GoTo’s success with an outstanding suite of products and a strategy to invest in technology that will better serve corporations and organizations around the world.”
Kohlsdorf continued: “On behalf of the Board, we also want to thank Paddy for his many contributions to the company over his tenure with LogMeIn and GoTo and wish him well.”
Veldran joined GoTo as its CFO over three years ago and he has reportedly been fundamental in achieving GoTo’s aim of ‘making IT easy’.
He brings over 30 years of experience as a strategy, finance, and operations leader for Dun & Bradstreet, ADP, and Procter & Gamble.
His most recent position, prior to joining GoTo, was as a Senior Advisor and Executive Coach with Boston Consulting Group (BCG).
Veldran also has an MBA in Finance from Cornell University, as well as a B.S. in Industrial Engineering and Operation Research from the same institution.
The incoming CEO, Rich Veldran, commented on his promotion to the number one spot: “I am excited about the opportunities that we have to grow GoTo.
“We have an outstanding team, loyal customers, and the right approach to investing in technology that will truly transform IT for our customers.
“We are on the right path to success and have a great future.”
Srinivasan Steps Sideways
While working at GoTo, Srinivasan served in a number of roles besides CEO, including Chief Product and Technology Officer, SVP Products and General Manager, and VP of Products and Engineering.
Before GoTo, Srinivasan was the General Manager for Data, Machine Learning Platform Services, and Alexa AI at Amazon.
He will now take the helm at DigitalOcean from February 12th, 2024, and will participate in its Q4 ’23 earnings call shortly after.
DigitalOcean describes Srinivasan as having an “impressive background in cloud technology” and an excellent track record when it comes to executing operations and delivering positive financial results.
Srinivasan expressed his excitement at becoming DigitalOcean’s new CEO: “I am deeply honored to be joining the DigitalOcean team.
“DigitalOcean has established itself as a critical player in the cloud ecosystem that participates in a large and growing segment of the market and differentiates itself with a dedication to simplicity in the cloud, providing solutions that are tailored to the needs of developers in small and growing digital businesses.
“I look forward to collaborating with the talented team at DigitalOcean to continue to deliver a full portfolio of easy-to-use, cost-effective and highly supported cloud solutions for our customers, enabling them to realize their ambitions and use technology to fuel their growth.”
Srinivasan is taking over from DigitalOcean’s outgoing CEO, Yancey Spruill, who had been in the position since 2019, and took the company public in 2021.
