Elona Mortimer-Zhika is to step down as CEO of $4 billion IRIS Software after eight years at the business.
Mortimer-Zhika said she will now focus her energies on her family, philanthropic priorities and expanding board responsibilities in the UK.
The Slough-headquartered provider of accountancy, education management, HR and payroll solutions is now seeking a US-based global CEO to succeed her.
Executive chairman Gus Malezis has been appointed interim CEO.
The move comes a year after she led the sale of the business to Hg, Leonard Green & Partners, L.P. and Intermediate Capital Group in a transaction valuing the business at around $4bn, and weeks after a reported £500m+ swoop for bookkeeping platform Dext – the largest acquisition in IRIS’s history which has added around 20% to the group’s revenues.
“I have had the incredible opportunity and privilege of leading a business I truly love, and it has been the best job in the world,” said Mortimer-Zhika, who joined in 2016 as CFO, became COO in 2018 then CEO in 2019.
“IRIS is an amazing company with all the ingredients many dream of having: loyal customers, fantastic mission critical cloud solutions, amazing investors and, most importantly, a tremendously hard-working and brilliant team, committed to our customers’ success.
“My heartfelt thanks to all our amazing employees and customers who make IRIS what it is.
“As we align our business for further global expansion, I am ready to focus on new priorities, including my family, joining other boards in a NED capacity, as well as my philanthropic work, including with The Hg Foundation.
“I am delighted that several key milestones were achieved in my last 12 months as CEO, and I am proud of what we have built together. I leave behind a business entering a new phase of growth, supported by a fantastically talented team.”
During Mortimer-Zhika’s tenure IRIS has tripled in size, transitioned to a cloud SaaS platform business, expanded into the Americas, significantly improved its customer NPS (Net Promoter Score) and acquired more than 30 businesses.
Women now represent 49% of IRIS’s employee base.
Malezis added: “For almost a decade, Elona’s leadership has helped to create a very bright future for an amazing business, leaving us in an excellent position for continued success. I highly value Elona’s capacity to drive the business success, while steadfastly keeping the employees and the IRIS culture at the core.
“Hers are certainly big shoes to fill, but Elona has prepared us all well for the future.”