NICE announces planned CEO transition

May 16, 2024
The Board has initiated a CEO search to identify the company's next leader in partnership with a top executive recruiting firm.

HOBOKEN, N.J. -- NICE (Nasdaq: NICE) today announced a planned leadership transition. Barak Eilam, Chief Executive Officer, has informed the Board of Directors of his decision to step down from his position, effective December 31, 2024.

Eilam will remain CEO until the end of the year, ensuring a smooth transition. He will actively participate in the search for his successor alongside the Board and collaborate with the new leader during a transition period. Furthermore, Eilam will continue to act in a strategic consulting capacity during the first half of 2025.

The Board has initiated a CEO search to identify the company's next leader in partnership with a top executive recruiting firm. The search will consider both internal and external candidates to ensure the best fit for NICE.

"The Board extends its gratitude for the remarkable achievements NICE has accomplished under Barak’s ten-year leadership," said David Kostman, Chairman of the Board at NICE. "The company is well positioned for the future as a leader in cloud, digital and AI. We deeply appreciate Barak’s unwavering commitment to NICE and look forward to continuing our work with him toward executing our 2024 plan, setting the company up for future success, and collaborating with him throughout the CEO search to ensure a smooth leadership handover.”

Barak’s leadership has been transformative for NICE. During his tenure, NICE's visionary strategy propelled the company to undisputed leadership across its markets. Under Barak's guidance, the company is now a key player in the enterprise software market leveraging cloud and AI and is well positioned for ongoing prosperity. With relentless focus on innovation and strategic acquisitions, he transformed NICE into a cloud leader.

 As CEO, Barak has built a great foundation for the future with a strong leadership team and orchestrated tremendous shareholder value creation: the total addressable market expanded fivefold; total revenue tripled; cloud revenue rapidly grew from near zero to $1.6 billion; and earnings per share more than tripled.

“Leading NICE for the past decade has been the pinnacle of my career. It is an honor to work alongside a team of 8,500 talented and dedicated NICErs around the globe. While my team and NICE’s mission continues to inspire me daily, after 25 years at NICE and with the company poised for continued leadership and success, it's the right time to transition the helm of the company to a new leader" said Barak Eilam, CEO, NICE.

Mr. Eilam continued, "I remain laser focused to deliver our 2024 plan, support the success of our customers and partners and work closely with our product teams on our exciting innovations. NICE has a bright future ahead, and I'm committed to ensuring a seamless transition.”