Hemant Shah is out as CEO of catastrophe modeler RMS, and veteran Silicon Valley technology executive Karen White has been appointed to replace him.
It is unclear if Shah, who is also an RMS co-founder, has any remaining status with the company he helped launch at Stanford University in the late 1980s. Attempts to reach an RMS spokesperson at deadline were unsuccessful.
In the announcement of White’s appointment, no details were given as to why Shah departed the company. Paul Zwillenberg, CEO of RMS parent company DMGT, made a brief statement about Shah’s tenure with RMS.
“I would…like to thank Hemant Shah, a pioneer in the industry, for his vision and dedication, growing RMS into a global leader since co-founding the company nearly 30 years ago,” Zwillenberg said in prepared remarks.
RMS today has a global business focused on catastrophe risk modeling and analytics, and generates revenues of more than $300 million, the company said. The company does not issue details in terms of profit or loss. Shah, in a 2014 interview with Carrier Management, insisted that RMS “is profitable and has been so for many years,” though it invests “a lot in research and development, and that certainly influences our margins.”
White is a 25-year technology industry veteran, having served as both an executive and investor. RMS credits her with having “significant” experience in building and scaling businesses by bringing technology, innovation, data and operations together. Most recently, she served as an adviser to companies including the venture firm 8 Partners and Credit Suisse and as president and COO of Addepar, according to her LinkedIn page and the RMS announcement. She also has held senior executive positions at SolarWinds and Syncplicity, among others.
White began her career at the software giant Oracle in 1993, reporting to CEO Larry Ellison, where she led worldwide marketing and business development, among other roles.
Zwillenberg said that it was “the perfect time” to appoint White as the next RMS CEO.
“As digitization transforms the market for risk analysis, prediction and management, RMS is uniquely positioned to advance its leadership in the space and enter new markets,” Zwillenberg said. White “is uniquely positioned to advance its leadership in the space and enter new markets.”
White herself, also in prepared remarks, said she was “thrilled” to be joining RMS as it continues “to innovate, grow and help lead the next wave of transformation.”