Marketo names Lucas as new CEO, replacing Fernanadez

Marketo names Lucas as new CEO, replacing Fernanadez

Marketing software company Marketo has hired Steve Lucas as its new chief executive officer, taking over for founder and current CEO Phil Fernandez, who will step down on November 1.

Lucas brings a proven track record of leading multi-billion dollar businesses through worldwide digital growth to Marketo. He was most recently president, enterprise platform & analytics, at SAP, where he drove innovative strategies to accelerate offerings from inception to market within the company’s enterprise platform and analytics solutions. He previously held global leadership positions across SAP’s Business Analytics Database & Technology, Business Objects, and Corporate Strategy & Market Development organizations. He was also key in growth and expansion as senior vice president at Salesforce.com.

“I am excited to join the company as Marketo accelerates its growth through enterprise expansion, its unprecedented next-generation marketing platform, and its robust partner ecosystem,” said Lucas. “I look forward to leading this incredible organization and enabling anyone using these market-leading solutions to innovate faster and accelerate their digital transformation through marketing, all with a firm commitment to Marketo's unique culture that champions diversity, inclusion, and social responsibility.”

Fernandez, who is stepping down after over 10 years in which he led the business through its launch, a successful IPO and acquisition by Vista Equity Partners, has confidence in his successor.

“I founded Marketo with a bold vision that marketers would take on a powerful new role within their organizations, owning customer engagement and digital transformation,” said Fernandez. “I am confident that the Marketo team, under Steve’s leadership, will maintain and extend our commitment to innovation, integrity, and customer success.”

Marketo, based in San Mateo, California, was bought by equity firm Vista Equity Partners earlier this year in a deal valued at roughly $1.79 billion.

“I want to welcome Steve to the leadership team as Marketo CEO and thank Phil for his instrumental role pioneering a new industry and building Marketo into a world-class brand that serves nearly 5,000 customers and more than 650 partners around the globe,” said Martin Taylor, principal at Vista Equity Partners and Marketo Director.

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