With a New Three-Year Contract in Place, Gianoni Aims to Accelerate Achievement of the Rule of 40 Financial Framework
CHARLESTON, S.C., Sept. 21, 2022 /PRNewswire/ -- Blackbaud (NASDAQ:BLKB), the world's leading cloud software company powering social good, today announced it has extended President and CEO Mike Gianoni's employment contract for an additional three years.
The new arrangement extends Gianoni's service through December 2025. Gianoni has been with Blackbaud since January 2014.
"We are very pleased to extend Mike Gianoni's service and retain his continuity of leadership as president and CEO of Blackbaud," said Andrew M. Leitch, chairman of the board, Blackbaud. "For the past nine years, Mike has proven his adept ability to drive value for the company's stakeholders—customers, employees and shareholders alike—while scaling market expansion and leading the company through several periods of growth and change. Furthermore, and most importantly, we are now well positioned and structured to leverage our significant corporate investments and current status to pursue aggressive, strategic, aspirational goals and are very confident that under Mike's continued leadership, supported by an outstanding senior management team, we can deliver significant, enhanced shareholder value over the next three years."
During Gianoni's tenure, he has helped Blackbaud integrate and simplify its core product portfolio, while transitioning to the Blackbaud SKY platform and standing up a first-class customer success program. Blackbaud has grown its payments business exponentially and expanded its total addressable market through the strategic acquisitions of JustGiving, YourCause and EVERFI, among others. In addition, Gianoni led the company in the transition to a remote-first workplace, helping establish a thriving culture with flexibility and benefits that attract top talent.
"In addition to continuing to push forward on product innovation and customer outcomes, I look forward to driving accelerated revenue growth and meaningful margin expansion over the next several years, as we execute on our long-term goal of achieving the Rule of 40," said Gianoni. "We are now targeting the Rule of 40 within the next three years, by the end of 2025, with a goal of achieving at least a 33 on the Rule of 40 in 2023."