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Bazaarvoice Announces Management Succession Plan

Stocks in this article: BV

AUSTIN, Texas, Nov. 20, 2013 (GLOBE NEWSWIRE) -- Bazaarvoice, Inc. (Nasdaq:BV), the network connecting brands and retailers to the authentic voices of consumers wherever they shop, today announced that its Board of Directors has approved a succession and transition plan to promote continued global expansion, continuation of the company's network vision, and operational excellence. Effective Jan. 31, 2014, Stephen Collins will step down as CEO and as a member of the Board of Directors. He will be succeeded as CEO by Gene Austin, currently the company's president. In addition, Mr. Austin has been named to the company's Board of Directors effective immediately.

Commenting on the plan, Tom Meredith, chairman of the Board of Directors, said: "Gene Austin is an outstanding business leader. Gene will build on Bazaarvoice's foundations, including its global presence, recognized market leadership, talented people, and strong client relationships with world-class brands and retailers. I know I speak for the Board and all Bazaarvoice employees as we thank Stephen for his tireless passion, commitment, and leadership. Under his watch, the company has developed a deep executive bench, expanded its global operations, and consistently created value for clients, employees, and shareholders."

This management transition is an important step in the next era for Bazaarvoice as it continues to advance, operationalize and execute the strategies required to capture the value of the company's network opportunity. Mr. Austin's more than 30 years of technology industry experience includes a dozen years in the software/SaaS market. Prior to Bazaarvoice, he spent nine years as CEO of Convio, two of which followed the company's IPO in 2010, and he previously held senior executive positions at companies including BMC Software, Dell, and Compaq Computer Corp. Since joining Bazaarvoice's executive leadership team in May 2013, Mr. Austin has been responsible for the management of the company's core platform operations, including worldwide sales, marketing, services, partnerships and business development activities.

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