The CEO of Fremont, California-based EFI, a large-format printer manufacturer and productivity software developer, has informed his board of directors that he intends to step down as soon as the company names a successor.
Guy Gecht has served as CEO at EFI for the past 19 years, a period of the company’s history that saw a great deal of expansion through the acquisition of other companies and their technologies. He has told his board he will continue to serve as CEO until his replacement is found, and that he will work closely with that replacement to ensure a smooth transition. Gecht will continue to serve on the company’s board of directors after he leaves the CEO position.
“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,” saysGecht. “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. I will stay fully focused on leading the outstanding EFI team during the search period, and will assist in ensuring a smooth transition once the new CEO is in place. As a shareholder, board member and a lifelong fan, nothing will be more gratifying for me than to see my successor leading EFI to achieve its full potential.”
EFI’s board of directors has retained the global executive search firm Spencer Stuart to assist in a thorough search process that includes both internal and external candidates.
“We are grateful for Guy’s 19 years as CEO of EFI,” says Gill Cogan, chairman of EFI’s Board. “Together with his team, Guy transformed EFI from a single product line and OEM business model to a diverse, worldwide leader driving the transition from analog to on-demand digital imaging in industries that touch our lives every day. He led the expansion into productivity software and industrial inkjet, which drove EFI’s rapid growth to over $1 billion in annual revenues. Guy is only EFI’s third CEO in its 30-year history, which has brought a unique stability that the board truly appreciates. As a global company with industry-leading technology and products, there is an unmatched opportunity for a new CEO to lead the charge in the years ahead.”