EFI closing in on $1 billion target as CEO reveals plans to step down
Published: 31 July 2018 | No comments yet
Mr Gecht is leaving the post after 19 years
Guy Gecht, who has been the CEO of Electronics For Imaging (EFI) for 19 years, has informed the board of directors that he will be stepping down. As he prepares to leave his role, the company has posted record results for the second quarter of 2018.
Mr Gecht will continue to serve as CEO until his replacement is named and has committed to working closely with the new appointee to ensure a successful transition. He will remain as a member of the board following the change. ‘Stepping down as the leader of a great company is never an easy decision. With vast market opportunities, loyal customers and a robust product roadmap, reinforced by the unprecedented interest in Nozomi, EFI has never been better positioned for continued growth and success,’ said Mr Gecht. ‘I think this makes it the right time, after 19 years as CEO of this unique company, for me to hand the reins to the next leader.’
Edging closer to the much-publicised $1 billion revenue target, EFI reported a record second quarter of $261.1 million, which is up by 6% compared to the same time last year. The result for first six months of 2018 is $500.9 million, up 5% year-over-year compared to 2017, to which Mr Gecht commented, ‘2018 continues to track well for EFI, with the team delivering record Q2 revenues and solid cash generation despite the significant impact of currency volatility during the quarter.’