Adapting New Global Business Model: How ABBYY Is Restructuring to Achieve International Growth - Latest Insights

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ABBYY reorganizes structure to pursue global growth

July 19, 2017

Changes to global organizational structure and executive management team prepare company to reach next phase of growth.

ABBYY, a leading provider of technologies and solutions to action information, today announced changes to the company’s global operating structure, including new appointments to the executive management team. Today’s announcements enable ABBYY to reach the next phase of growth, and to better serve its global customers.

“The new structure is designed to ensure a closer connection with customers and the execution of a unified global strategy. With the changes announced today, we are taking the next step to continue our evolution into a truly global company, leveraging expertise gained across markets, streamlining processes, and driving growth across ABBYY,” says Ulf Persson, CEO of ABBYY.

New management positions will centralize strategies, processes and expertise in core global functions:

• Chief Product Officer, Andrey Isaev will be responsible for driving ABBYY’s central product management. Andrey has been with the company for more than 10 years and till present was Vice President, Director of SDK products responsible for ABBYY’s core technology licensing and SDK product lines, including long-term product strategy definition, business development and product development.
• Chief Sales Officer, Bodo Wagener. As CSO, Wagener will oversee a global sales organization, driving best practice execution and process, with the appropriate combination of both global and local market expertise. Wagener moves from his role as Senior Vice President of Sales for Western Europe.
• Chief Marketing Officer, Jupp Stoepetie will be responsible for creating and implementing a global marketing strategy in order to meet sales objectives and outperform competitors. Before Jupp was a Chief Executive Officer of ABBYY Europe Headquarters which he founded on behalf of ABBYY in 2001. Stoepetie is an industry veteran with more than 20 years in managerial roles.
• Senior Vice President of Product Marketing, Bruce Orcutt will now be driving global product marketing for ABBYY’s intelligent capture solutions that create business value for organizations. He will focus on go-to-market strategies that will accelerate the adoption of ABBYY solutions worldwide. He has over 20 years of enterprise software experience and was formerly Vice President of product marketing for ABBYY’s North American headquarters.

Earlier this year, the ABBYY Board of Directors appointed Ulf Persson Chief Executive Officer to lead this change. Persson moved to the position of CEO after serving two years as Chairman of the Board of Directors of ABBYY and more than 10 years as its board member. At the same time, former group Chief Financial Officer Vadim Tereshchenko was promoted to Chief Operating Officer.

The ABBYY group comprises 16 global offices located in Australia, Canada, Cyprus, France, Germany, Japan, Spain, Taiwan, the UAE, the UK, Ukraine and the United States. ABBYY has operated regional businesses with a high degree of independence. However, with its ambitious goals to produce more Artificial Intelligence (AI)-based solutions, service global clients, cut time-to-market and increase revenue, the need for a more unified corporate structure became apparent. All regional teams now report to the newly-appointed global functional managers.

“With the new structure, ABBYY will be able to execute a more customer and market-led strategy that will allow us to fully leverage the company’s global sales and marketing presence and outstanding product development capabilities,” Persson adds.

Founded in 1989, ABBYY has been developing semantic and AI technologies for many years. Thousands of organizations from over 200 countries have chosen ABBYY solutions. The company sees accelerated growth coming from increased demand for AI-enabled products and solutions that transform documents into business value by capturing information in any format. These solutions help organizations of diverse industries boost revenue, improve processes, mitigate risk, and drive competitive advantage.

About ABBYY

ABBYY is a leading global provider of document recognition, content capture and language-based technologies and solutions that help people and businesses to action information. The company sets the standard in content capture and innovative language-based technologies that integrate across the information lifecycle. ABBYY solutions are relied on to facilitate communication, optimize business processes, mitigate risk, accelerate decision making and drive revenue. ABBYY technologies are used and licensed by some of the largest international enterprises and government organizations, as well as SMBs and individuals. The company maintains offices in Australia, Canada, Cyprus, France, Germany, Japan, Spain, Taiwan, the UAE, the UK, Ukraine, and the United States. For more information, please visit www.abbyy.com .

ABBYY and the ABBYY Logo are either registered trademarks or trademarks of ABBYY Software Ltd. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.

Media Contact:

Daria Kertsenbaum

Director of Corporate Communications

ABBYY Group

E-mail: Daria_O@abbyy.com

https://www.abbyy.com

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