Michael Cremen, Cohesity’s Chief Revenue officer, is quitting the company for a new opportunity, the details of which have not yet been disclosed.
Cohesity is a fast-growing and well-funded data management startup transitioning to a SaaS business model. The company has just reported a standout quarter. Founded in 2013, it was valued at $3.7 billion in March and has taken in $660 million in funding, with the most recent round bringing in $250 million last year.
Cremen was recruited as Cohesity’s first CRO in November 2019. He came from being a Veritas SVP for two years, responsible for sales, management, operations, and the financial performance of the Veritas business in the United States, Latin America, and Canada. Before that he had spent 16 years at Hitachi Data Systems, finishing up as EVP for global sales. There was a one-year stint as a portfolio exec at IBM Global Technology Services between the Hitachi and Veritas periods.
A Cohesity spokesperson said: “Michael Cremen … has decided to pursue a new opportunity in an entirely different industry. Michael will remain in his role for much of the quarter, managing the company’s Worldwide Field Organization and working closely with Cohesity’s executive team. In the meantime, an executive search is underway.”
He added this statement: “Michael has contributed in many ways to Cohesity’s ongoing success, including hiring or promoting industry veterans to lead the company’s sales and partner organizations globally. Under this dynamic leadership team, the company has continued to grow and report record-breaking results. With thousands of enterprises around the globe, including two of the top five Fortune 500, embracing Cohesity’s next-gen data management to mitigate threats from ransomware attacks and do more with data, Cohesity looks forward to onboarding another world-class CRO to manage an incredibly high performing team and take Cohesity’s exceptional performance to the next level.”
It may be a concern that Cohesity’s sales momentum isn’t slowed by Cremen’s departure. We understand Cremen will formally leave Cohesity at the end of September.