commercetools Announces Appointment of Andrew Burton as New CEO

Company Overview - commercetools is a global commerce company and the market leader in composable commerce, enabling companies to customize, tailor, and scale shopping experiences across markets [11] - The company empowers brands such as Audi, Danone, Eurorail, NBCUniversal, Sephora, and Volkswagen Group to stay ahead of market changes and consumer preferences by delivering dynamic user experiences [7] - commercetools has headquarters in Munich (Germany) and Durham (US), with employees spread across five continents [7] Leadership and Strategic Changes - Andrew Burton has been appointed as the new CEO of commercetools, effective July 8, 2024, succeeding Dirk Hoerig, who will transition to the role of Chief Innovation Officer (CIO) [8] - Burton brings over 25 years of experience in building innovative businesses and leading world-class teams, with a proven track record in sales, marketing, product, engineering, and operations [9] - Burton previously served as president and COO of Rapid7, growing the company from ~$150M ARR to over $800M ARR, and was CEO of Logentries, which was acquired by Rapid7 [9] - Burton is the third major hire in the last 18 months, alongside the company's recently hired chief people and finance officers, signaling a focus on continued growth and innovation [10] Recent Achievements and Growth - In 2024, commercetools was named a Leader in the IDC MarketScape report, launched a HIPAA-compliant and HDS-certified solution, and introduced commercetools Foundry, a solution that accelerates and reduces the cost of e-commerce operations [1] - The company reported significant 2023 fiscal year results, including a +65% ARR growth in the Americas region and a +45% YoY increase in Gross Merchandise Value (GMV) to over $30 billion [1] - commercetools Platform has served as a key enabler of agility and innovation for large enterprises over the past 14 years, driving growth and expansion [5] Future Outlook - The company aims to continue pushing the boundaries of commerce, creating more value for customers and partners worldwide, and transforming ideas into revenue under Burton's leadership [1] - Hoerig, in his new role as CIO, will focus on growing key customer and partner relationships, driving product innovation, and advancing the company's thought leadership [8]