Appointments and Revenue Dip for ZoomInfo

Business data platform ZoomInfo has appointed Domenic Maida and Owen Wurzbacher to its Board of Directors, and Graham O'Brien as interim CFO from September 6th, replacing Cameron Hyzer. It also reported Q2 revenue down 6% to $291.5m and adjusted operating income of $81.6m, down 35%.

ZoomInfo holds firmographic, technographic, contact and intent data on around 100 million businesspeople worldwide, has been established for around twenty years and was acquired in 2019 by DiscoverOrg. In February it launch Copilot, an AI-powered solution promising to bring its data together with a client company's first party CRM data and provide insights for use by salespeople.

Maida will serve on the Board's Privacy, Security and Technology Committee and Wurzbacher on its Nominating and Corporate Governance and Compensation Committees. The appointments follow the resignation of Todd Crockett on 30th July. Eight of the Board's nine directors are now independents.

Maida was Bloomberg's Chief Data Officer from 2013 to 2021, during a 25-year stay at the financial data giant. Since 2022 he has been a Senior Advisor at Boston Consulting Group. Wurzbacher was Chief Investment Officer at HighSage Ventures, setting the firm's strategy and overseeing its portfolio management.

O'Brien (pictured), a licensed CPA in the District of Columbia, is currently the company's Vice President of FP&A, overseeing financial forecasting, budgeting and reporting processes. Previously he worked at DiscoverOrg, RainKing Solutions and Kaseya. He temporarily replaces Hyzer, who will transition to serve in an advisory capacity until October 7th. The company says it has initiated a search for a permanent successor. Founder and CEO Henry Schuck said, 'I would like to thank Cameron for his significant contributions and leadership at ZoomInfo over the last six years, as we have grown to $1.2 billion in revenue, navigated the IPO process and public markets, and driven strong margins and cash flow. We are also fortunate to have Graham step up into the CFO role on an interim basis. I am confident he will effectively guide our finance team as we continue focusing on our strategic goals'.

Of the financial results, for the period ending 30th June, Schuck said: 'In the second quarter, we implemented a number of initiatives to position the company for long-term success. Having successfully launched ZoomInfo Copilot, our AI-powered go-to-market platform, we are further accelerating a shift upmarket. To that end, in the quarter we grew our $100k ACV customer cohort sequentially, had our best new business quarter in the mid-market and enterprise, while we stabilized net revenue retention'.

Web site: www.zoominfo.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.