Earlier today, I got an email and call from an old friend in the Spend Management world who told me that Avner Schneur, Emptoris' gregarious and often polarizing founder and CEO, had been shown the door (in full disclosure, the note came from an Emptoris competitor). Following this email and subsequent phone call, I was able to confirm this news after talking with a number of individuals close to Emptoris. Emptoris is indeed turning over a new leadership chapter (yet I have not yet learned who will be running the show).
My sources told me that Emptoris' relatively new owners, Marlin Equity, decided it was time to bring on new executive leadership to Emptoris. Since Emptoris has a very small Board of Directors, its fairly clear this must have been a Marlin decision. There is some dispute apparently in the manner in which Avner's departure occurred based on various accounts I have heard. I will refrain from providing additional detail on this until more information presents itself.
I'll save my thoughts on the future of Emptoris' next chapter post-Avner for early next week. But it suffices to say this move should bring with it a significant cultural change in Emptoris management even if the underlying strategy remains similar to before. Look for more commentary on the developing situation from Spend Matters in the coming days. Before publication of this note, I reached out to Kevin Potts, Emptoris' VP of Marketing, but we have not been able to connect yet. I look forward to sharing Emptoris' perspective on the matter as it becomes available, as well as providing additional thoughts and opinions on the news.