Darren Roos who is promoted as IFS’s Chair of the Board, gets replaced by Mark Moffat as the CEO of IFS.
IFS has announced that Mark Moffat has been promoted to Chief Executive Officer (CEO). Moffat takes over from Darren Roos who has been appointed as the company’s Chair of the Board. Both appointments are effective immediately.
The transition provides great continuity for the business by building on the successful strategy that has seen IFS transform into the leading vendor for Asset & Service Management software. Moffat, Roos and the IFS Executive Team have been working on the transition over the past six months as part of the Board’s succession planning process.
Commenting on his appointment as CEO, Mark Moffat said, “The business has immensely strong foundations to build upon and we have been putting all the right ingredients in place to continue to deliver on our strategy: a differentiated proposition, a hugely advanced and capable AI-based product, an engaged customer base, a motivated partner ecosystem, and of course our talented employee base. I want to recognize and thank Darren for the impact he has had as my predecessor. I look forward to working with him in his new capacity as IFS’s Chair of the Board.”
Under Roos’ tenure as CEO, IFS has more than tripled its overall revenues and transformed into a true Cloud business, from both a product and revenue perspective with 79% of total revenue now recurring (up from 36% when he joined). Thanks to sustained organic growth and customer satisfaction scores that set the industry benchmark, IFS has become the trusted vendor for industry focused applications that help manage assets, people and customers.
Darren Roos, Chair of the Board at IFS, commented, “I am thrilled to appoint Mark as my successor. He has a proven track record, brings a strong network, and is a great leader that people want to follow. I am pleased to be continuing my journey with IFS, albeit in a different capacity. I take over as Chair of the Board from Jonas Persson, who I want to thank for his great governance and counsel over the years.”
