MSPs use SolarWinds technology to manage the IT environment of over 500,000 SMBs in all parts of the world, Pagliuca said. Based on the quality of the candidates that have been interviewed thus far, we hope to be able to complete the search process in a relatively short period of time.” The search committee has interviewed several candidates and believe that the pool of interested candidates is of high quality. “And they have presented a number of qualified and interested candidates to the search committee of our board of directors. “We’ve engaged an outside executive search firm to lead this search,” Thompson said. The new CEO will lead the core IT management business. In addition, SolarWinds is searching for a new CEO to succeed Thompson. John Pagliuca, president of SolarWinds’ MSP business, will be CEO of the new MSP business. “However, there is still a number of legal, organizational and operational items that must be accomplished over the coming months to finalize the definitive proposal for final separation for approval by our board of directors,” Thompson said. Pending board approval, the separation would occur during the first half of 2021, he said
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“It is our intent to proceed forward with the separation process, although the structure and timing of the transaction still must be finalized,” Thompson said. “Based on the additional work we have done over the last 90 days, we continue to believe in the rationale for the separation from strategic operational business growth and value creation perspective as the separation of the MSP business from SolarWinds will create two independent companies that are both market leaders, each focused on their different businesses, customers and strategic initiatives,” Thompson said.Įach business would have the “freedom” to develop investment plans unique to the dynamic and maturity of the markets which they serve, he said.