Rimini Street Appoints Thomas Sabol as CFO
Accomplished 30-year veteran brings extensive high-tech public company financial leadership experience to support next phase of fast-paced growth
LAS VEGAS, February 2, 2017 - Rimini Street, Inc., the leading global independent provider of enterprise software support services for SAP SE's (NYSE:SAP) Business Suite, BusinessObjects and HANA Database software and Oracle Corporation's (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail, Oracle Agile PLM and Oracle ATG Web Commerce software, today announced the appointment of Thomas Sabol as senior vice president and chief financial officer (CFO). Sabol will lead the global finance and accounting teams at Rimini Street, responsible for all financial aspects of the company both internally and externally including financial and management reporting, treasury, tax, and supporting the executive management team on strategic planning initiatives. Sabol replaces the Company's previous CFO, Doug Zorn, who retired at the end of 2016.
"Rimini Street is a well-run, fast-growing company with a disruptive business model that has redefined the enterprise software support market - a model that greatly appeals to organizations of all sizes and industries around the world," said Sabol. "I am pleased to join the Rimini Street family and the senior executive team that will take the company forward building on 44 consecutive quarters of growth and success."
Seasoned CFO Brings High-Tech Public Company Leadership Experience to Rimini Street
Sabol brings extensive public company financial and operational leadership experience at high-tech organizations to his new role at Rimini Street. Prior to his most recent work as a management consultant providing M&A, CFO support and strategic planning assistance to several companies, Sabol served as CFO for Comverse, Inc., now Xura, Inc. (NASDAQ: CNSI), a $500 million global software service provider for telecommunications and enterprise companies. Sabol managed all financial aspects of the company including financial and management reporting, SEC filings, treasury, tax, internal audit and investor relations. He was also responsible for information security, supply chain management and procurement, and supported the successful sale of Comverse’s billing business to Amdocs Limited in July 2015. Prior to Comverse, Sabol was the CFO of Hypercom Corporation, a $400 million global provider of electronic payment solutions. During his tenure with Hypercom (NYSE: HYC), Sabol was instrumental in the sale of the company to VeriFone Systems in 2011. Sabol also served as CFO and COO of Plexus Corp (NASDAQ: PLXS) where he completed a $150 million secondary offering and 10 acquisitions in the United States, Mexico, Malaysia, China and the United Kingdom. Earlier in his career, Sabol served as vice president and general auditor for Kemper Corporation, a $6 billion financial services company, and began his career with Coopers & Lybrand, serving as audit manager working on several initial public offerings.
"Tom brings an enormous amount of technology industry and public company financial leadership experience to his new role as CFO of Rimini Street, and an impressive track record of success. His strategic and financial acumen makes him highly qualified to lead our financial and accounting teams around the world, and I look forward to his contributions as we execute our next phase of fast-paced global growth," said Seth Ravin, Rimini Street CEO. "More than 1,750 Oracle and SAP clients have signed with us to date, including over 155 of the Fortune 500 and Global 100. We look forward to working with Tom to continue our strong growth momentum as more organizations become aware of the breadth of services and the value of switching to Rimini Street's premium support model."
About Rimini Street, Inc.
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,750 global Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.
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