Bentley(US:BSY)2023-02-28 16:47Leadership Transition - Keith Bentley, the founder, will retire as Chief Technology Officer in April 2023 and become a Technology Advisor[1, 4, 206] - Julien Moutte will succeed Keith Bentley as Chief Technology Officer, joining from SAP in January 2021[2, 5, 207] - David Hollister, the former CFO, will retire as Chief Investment Officer on March 31, 2023, succeeded as CFO by Werner Andre at the beginning of 2022[1, 4, 188] - Brock Ballard has been promoted to Chief Revenue Officer, succeeding Gus Bergsma, and Eric Boyer has joined as Investor Relations Officer[17] Financial Performance and Outlook - The company's 2022 operating results met expectations despite challenges in Russia and China[29] - The company anticipates full year 2023 total revenues between $1.205 billion and $1.235 billion, representing a 9.5% to 12.5% increase[253] - The company projects ARR growth of 11.5% to 13.5% in constant currency for 2023[253] - The company expects an Adjusted Operating Income with Stock-Based Compensation (SBC) Margin of approximately 26% for 2023[177, 253] Business Growth and Strategy - The company's ARR growth rate was favorably impacted by the ARR onboarding from the platform acquisition of Power Line Systems by 2.5% for the year ended December 31, 2022[27] - The company's ARR growth rate was favorably impacted by the ARR onboarding from the platform acquisition of Seequent by 13% for the year ended December 31, 2021[27] - E365, E365 Prospects, and SMB accounted for 47% of overall New Business[112]