New Relic (NYSE: NEWR), the observability company, announced that Mark Sachleben has decided to step down as chief financial officer. As the company embarks on a thorough search for its successor, Sachleben will remain in his role until his successor is appointed and the company has successfully completed the transition.

“On behalf of the Board of Directors and the management team, I thank Mark for his leadership, commitment and contributions to New Relic since its inception in 2008,” said New Relic CEO Bill Staples. “His dedication and intimate knowledge of the business has been central to our ongoing business transformation, including strengthening our balance sheet, accelerating revenue growth and implementing cost reduction measures. We wish him well. going forward, we are committed to conducting an effective yet comprehensive search to identify the right financial leader for New Relic’s next phase of growth.

Sachleben said, “I joined New Relic in 2008 to help build and scale the organization so millions of developers and engineers can build better software, faster. After 14 years, I decided it was the right time for me to retire from New Relic. It has been an honor and a privilege to lead such a dynamic and visionary organization. I’m proud to have played a role in helping New Relic grow and fulfill its mission, and I remain committed to ensuring a smooth transition.

Fourth Quarter and Full Year 2022 Financial Results

In a separate press release, New Relic today announced its financial results for the fourth quarter and full fiscal year ended March 31, 2022. Concurrently, the company issued a letter to investors and will host a conference call from 2 p.m. Pacific time (5 p.m. Eastern time) to discuss the results and answer questions. The letter to investors and the conference call can be viewed on the Company’s website at http%3A%2F%2Fir.newrelic.com under the investor relations section.

Analyst Day and FutureStack 2022

New Relic will continue to hold its previously announced Analyst Day on Wednesday, May 18, in conjunction with FutureStack 2022, the company’s annual customer and developer conference; however, given the ongoing transition to CFO, the company does not intend to provide an update on its long-term business model. For more details and to register for the in-person Analyst Day event, email [email protected].

About the new relic

As a leader in observability, New Relic gives engineers a data-driven approach to planning, building, deploying, and running great software. New Relic provides the only unified data platform that enables engineers to get all telemetry (metrics, events, logs, and traces) combined with powerful comprehensive analysis tools to help engineers do their best with data, not opinions.. Offered through the industry’s first intuitive and predictable usage-based pricing, New Relic gives engineers better value by helping to improve planning cycle times, change failure rates, frequency of publication and the average resolution time. This helps the world’s leading brands including American Red Cross, Australia Post, Banco Inter, Chegg, Gojek, Signify Health, TopGolf, World Fuel Services (WFS) and Zalora improve uptime, reliability and operational efficiency to deliver exceptional customer experiences that fuel innovation. and growth. www.newrelic.com.

Forward-looking statements

This press release contains “forward-looking” statements, as that term is defined under federal securities laws, including, but not limited to, statements regarding the retirement and transition of Mr. Sachleben and any anticipated effect on the Company’s business, market position and growth. and New Relic’s plan for Analyst Day and FutureStack 2022. The achievement or success of the matters covered by these forward-looking statements are based on New Relic’s current assumptions, expectations and beliefs and are subject to risks, uncertainties, assumptions , and changes in circumstances that may cause New Relic’s actual results, performance or achievements to differ materially from those expressed or implied by any forward-looking statement. Further information about factors that could affect New Relic’s financial and other results and the forward-looking statements contained in this press release are included in New Relic’s filings with the SEC from time to time, including in New Relic’s most recent Form 10-Q, particularly under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at http%3A%2F%2Fir.newrelic.com or the SEC website at www.sec.gov. New Relic undertakes no obligation and does not intend to update these forward-looking statements except as required by law.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220512005929/en/