My colleague Peter Smith broke the news earlier this morning that Jim Wetekamp has taken over as BravoSolution’s new CEO. Here are some of the highlights from Peter’s coverage:
“This morning, procurement software firm BravoSolution will announce that Jim Wetekamp is their new chief executive officer, taking over from Nader Sabbaghian, who has left the company. In some sense it is a surprise; Sabbaghian has been with the firm for 14 years and is a well-known figure in the procurement world. He was one of the founding management team, initially as the marketing head eventually as global CEO. But he has a number of other business interests, and after a lengthy chunk of his career with the one firm, he feels it is time to pursue other ideas.”
“Wetekamp … joined BravoSolution back in 2008 when they acquired Verticalnet, where he ran product development and consulting. He was appointed to the top team at BravoSolution on that acquisition, and has been SVP of Solution Strategy, with a core role covering product development and technology – the essential roadmap of where the firm’s products are heading. But in practice, his role has been far wider.”
“As a global firm close to the $100 million mark now, [Jim] wants to ensure there is ‘an effective organization to serve the needs of the client, wherever they are,’ which might mean a greater ability to take capability in one part of the BravoSolution organization and apply it globally, for instance.”
“In terms of product, the upstream areas – covering aspects such as supplier development, planning and risk management – are high on his agenda.”
“And on the note of acquisitions, there are always rumors around BravoSolution, given the firm is owned by an Italian industrial business rather than a software giant. Is this senior management change connected with something else going on, we wondered. ‘I’m sure there is always someone looking at us as a potential opportunity. But no, our current focus is on the continued growth of our business.’”
I’ve personally known Jim for the majority of my professional career in this sector, and I can say with authority that there is no senior executive deeper on the product and solution side of the business. He also represents the opposite end of the CEO spectrum compared with aggressive, sales-centric leaders – not necessarily a good or a bad thing. But above all, Jim is cool, confident and exceptionally knowledgeable around all things procurement in the areas in which he’s focused over the years – something no doubt Bravo’s clients will find refreshing.
We’ll be featuring an interview with Jim in the coming days on Spend Matters in which he discusses his new role and plans for BravoSolution. Stay tuned!