Temenos concludes CEO search with appointment of Jean-Pierre Brulard
Temenos, a core banking software heavyweight, has concluded its extended search for a new chief executive officer (CEO) with the appointment of Jean-Pierre Brulard, effective 1 May 2024.
Jean-Pierre Brulard, new CEO of Temenos. Image source: LinkedIn
Brulard moves from VMware, a US-based cloud computing and virtualisation technology company, where he spent 14 years in various leadership roles. Most recently, he was executive vice president (EVP), worldwide sales and a member of the firm’s executive committee. VMware was acquired by Broadcom last year.
Prior to VMware, Brulard was senior vice president (SVP) and general manager, EMEA at Business Objects (a European software company acquired by SAP in 2007) for eight years. He also previously held roles at Sun Microsystems and IBM and served as a board member of TalentSoft in France.
He will be based in Switzerland.
Commenting on the appointment, Thibault de Tersant, non-executive chairman of the board at Temenos, says Brulard’s “management of the migration of the VMware business model to subscription and Software-as-a-Service (SaaS) whilst delivering annual recurring revenue (ARR) and revenue growth was a critical factor in his appointment”.
He also highlights Brulard’s “extensive operational and strategic planning expertise”, adding he has an “excellent understanding of our clients’ SaaS transformation requirements, through working with some of the world’s largest banks”.
Temenos has been pursuing the SaaS strategy for several years. In 2022, it moved to selling five-year subscription contracts for on-premise licence and maintenance as standard, including for renewals.
Andreas Andreades, a long-standing executive at Temenos, will retire after 25 years of service, including 11 years as executive chairman and, since early 2023, taking on the role of CEO while the permanent replacement search was underway.
The position became vacant in January 2023 following the resignation of Max Chuard, a 20-year Temenos veteran and its CEO for four years. At the time of his departure, Chuard said the vendor’s SaaS business was “reaching critical mass” and was “increasingly underpinning both the revenue and profitability visibility”.
The move to subscription licensing was penned for completion by the end of 2023.
De Tersant commented at the time that the company would focus on the “huge” SaaS opportunity, including in the US, under the new leadership.
Earlier this year, activist short-seller Hindenburg Research published a spate of allegations about Temenos’ products, partner and client relationships and accounting practices. These were refuted by Temenos, and following a “thorough independent external review”, it branded the allegations “inaccurate and misleading”.
