Cerence appoints Brian Krzanich as CEO, reaffirms Q4 FY2024 guidance

Cerence Inc.

Brian Krzanich appointed President and CEO effective Oct 7, 2024; succeeds Stefan Ortmanns.
Krzanich previously CEO of CDK Global and Intel; led CDK's $8.3B take-private exit in 2022.
Reaffirmed Q4 FY2024 guidance: revenue $44-50M, GAAP net loss ($32M)-($28M), adjusted EBITDA ($19M)-($13M).
Krzanich receives $600K base salary, target bonus 100%, and $6M initial equity award (50% time-based RSUs, 50% performance-based).
Board adopted Amendment No.1 to 2024 Inducement Plan, increasing authorized shares from 600K to 3M.

item 2.02 item 5.02 item 9.01

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Appointed

Brian Krzanich

President and Chief Executive Officer

CRNC · Cerence Inc.

Effective: 2024-10-07
Filed: October 7, 2024, 7:59 PM ET

On October 6, 2024, the Board of Directors (the “Board”) of the Company appointed Brian Krzanich as President and Chief Executive Officer (and “principal executive officer”) of the Company, effective October 7, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Brian Krzanich was appointed as President and Chief Executive Officer at Cerence Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On October 6, 2024, the Board of Directors (the “Board”) of the Company appointed Brian Krzanich as President and Chief Executive Officer (and “principal executive officer”) of the Company, effective October 7, 2024.

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Cerence Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-233891

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