Cloud software company Blackbaud on Wednesday announced it has extended President and CEO Mike Gianoni's employment contract for an additional three years.
The new arrangement extends Gianoni's service through December 2025, according to a news release from the company. Gianoni has been with Charleston-based Blackbaud since January 2014.
"We are very pleased to extend Mike Gianoni's service and retain his continuity of leadership as president and CEO of Blackbaud," Andrew M. Leitch, chairman of the board, said in the news release. "For the past nine years, Mike has proven his adept ability to drive value for the company's stakeholders — customers, employees and shareholders alike — while scaling market expansion and leading the company through several periods of growth and change. Furthermore, and most importantly, we are now well positioned and structured to leverage our significant corporate investments and current status to pursue aggressive, strategic, aspirational goals and are very confident that under Mike's continued leadership, supported by an outstanding senior management team, we can deliver significant, enhanced shareholder value over the next three years."
During Gianoni's tenure, he has helped Blackbaud integrate and simplify its core product portfolio, while transitioning to the Blackbaud SKY platform and standing up a customer success program, the release stated. Blackbaud has grown its payments business exponentially and expanded its total addressable market through the strategic acquisitions of JustGiving, YourCause and EVERFI, among others. In addition, Gianoni led the company in the transition to a remote-first workplace, helping establish a culture with flexibility and benefits that attract talent.
"In addition to continuing to push forward on product innovation and customer outcomes, I look forward to driving accelerated revenue growth and meaningful margin expansion over the next several years, as we execute on our long-term goal of achieving the Rule of 40," Gianoni said in the release. "We are now targeting the Rule of 40 within the next three years, by the end of 2025, with a goal of achieving at least a 33 on the Rule of 40 in 2023."
Blackbaud is one of the world’s largest cloud software companies that it says is “powering social good.” The company serves nonprofits, higher education institutions, K–12 schools, health care organizations, faith communities, arts and cultural organizations, foundations, companies and others.