UKG looks within to find new CEO
UKG, an HR tech corporation made in 2020 by the merger of Kronos and Greatest Program, has named its president, Chris Todd, as its new CEO.
Todd replaces Aron Ain, who became chairman and CEO of UKG right after the merger. Earlier, Ain experienced been CEO of Kronos Inc., a firm based mostly in Lowell, Mass., that is known for its greatly utilised payroll methods. Ain started doing the job at Kronos in 1979, according to his LinkedIn profile.
In choosing Todd, UKG is ensuring continuity of administration. Todd turned president of Kronos in 2018 beneath Ain, with the two doing the job collectively for four yrs.
Todd was named CEO July 1, and Ain will develop into government chairman of the board of administrators. This improve was expected and section of the firm’s succession prepare, in accordance to UKG. As government chairman, Ain will still have some arms-on roles together with doing work with clients and associates, the company explained.
Elevating from in
Based mostly on information gathered by Spencer Stuart, an govt search company in Chicago, filling CEO positions internally is the norm. Inside promotions, for instance, accounted for 80% of all CEO transitions last year, it noted.
Ray Wang, principal analyst at Constellation Investigate, explained that “in complicated put up-mergers, you want to make sure you have a leader that both equally sides have faith in, and time to make esprit de corps along with bringing the various business cultures together.”
Todd “would have been a single of the top rated candidates to deliver the corporation to the next chapter,” Wang said.
Hellman & Friedman LLC, a personal equity firm that owned Kronos, compensated $11 billion for Supreme Computer software, which is centered in Weston, Fla. The acquisition led to the generation of UKG, small for the Greatest Kronos Team.
Todd started off at Kronos in 2007, and his career bundled performing for administration consulting agency McKinsey & Co., and investment decision financial institution S.G. Warburg & Co. He graduated from Yale Law Faculty.
In a statement, Todd stated, “I am fortuitous to have been mentored by an outstanding person and CEO, and over and above proud to have the honor to direct this kind of an remarkable team of gifted persons who are pushed to help corporations be successful by focusing on their persons.”
In the wake of ransomware
UKG’s year commenced on a tough notice. A December ransomware assault disrupted consumer payroll operations, adopted by several lawsuits over security hazards and inaccurate pay.
But the tide could be altering for UKG. In its management modify announcement, the firm said it believes it will make $4 billion in income in 2023, a calendar year previously than envisioned.
Patrick Thibodeau covers HCM and ERP technologies for TechTarget. He is labored for a lot more than two a long time as an business IT reporter.
