ServiceSource CEO Mike Smerklo Steps Down; Names Ashley Fieglein Acting CEO

(RTTNews) - ServiceSource (SREV) announced that Mike Smerklo will step down as Chief Executive Officer. However, he will continue to serve the company in the role of Chairman, advising the leadership team and ensuring a smooth transition for customers and employees. He has resigned after 11 successful years at the helm.

In addition, the company announced the appointment of Chief Financial Officer, Ashley Fieglein Johnson, as acting Chief Executive Officer, effective immediately.

Ashley Fieglein Johnson brings more than 20 years of finance and operations experience to her role as Acting CEO of ServiceSource. Fieglein Johnson was most recently Chief Financial Officer for ServiceSource. Prior to ServiceSource, Johnson founded GreenAtom, a professional services firm focused on advising companies in the Clean Technology industry on financial strategy, business development and organizational structure.

Johnson spent several years with General Atlantic, a private equity firm servicing the technology industry, where she helped build and manage its presence on the West Coast. Before General Atlantic, Johnson led international business development for Ariba and worked in both venture investing and investment banking for the technology corporate finance division of Morgan Stanley.

Meanwhile, the company stated that its board has formed a search committee to hire a permanent CEO with strong operational credentials.

The company also announced the appointment of Rick Genovese as President of the new Managed Services Business Unit. In this role, Genovese will own the strategy and execution for the company's Managed Services Business Unit for recurring revenue management. He brings a strong history of driving executional excellence in business process outsourcing and technology service organizations including Ciber, Inc., IBM Global Services, PWC Consulting Services and EDS.

In July, ServiceSource announced its strategic plan to restore growth and profitability to the business. As a result, the company established two distinct business units for its Managed Services and SaaS operations and plans to align investments and go-to-market activities along these efforts. To support this strategic transformation, ServiceSource announced the changes.