IFS appoints Mark Moffat as its new CEO

IFS announced has promoted Mark Moffat to the position of chief executive officer (CEO). Moffat takes over from Darren Roos who has been appointed as the company’s chair of the board. Both appointments are effective immediately.

Most recently, Moffat, was serving as the company’s chief customer officer. The company shares in a press statement that he is a well-known and respected technology leader having held several senior positions at PwC before joining IFS.

IFS adds that this transition provides great continuity for the business. Moffat, Roos and the IFS Executive Team have been working on the transition over the past six months as part of the board’s succession planning process.

Commenting on his appointment, Moffat said, “It is a great honour for me to lead IFS as we embark on this next chapter of growth. The business has immensely strong foundations to build upon and we have been putting all the right ingredients in place to continue to deliver on our strategy: a differentiated proposition, a hugely advanced and capable AI-based product, an engaged customer base, a motivated partner ecosystem, and of course our talented employee base.

He added, “I want to recognize and thank Darren for the impact he has had as my predecessor. I look forward to working with him in his new capacity as IFS chair of the board.”

Under Roos’ tenure as CEO, IFS has reportedly more than tripled its overall revenues and transformed into a true Cloud business, from both a product and revenue perspective with 79 percent of total revenue now recurring.

Roos commented, “I am thrilled to appoint Mark as my successor. He has a proven track record, brings a strong network, and is a great leader that people want to follow. I am proud of all that has been achieved since I joined IFS and want to thank the thousands of women and men throughout the business who have lived our shared values and made our customers successful. I am pleased be continuing my journey with IFS, albeit in a different capacity. There is so much opportunity in the market and, together with the Board, I will work with Mark and his team to ensure we effectively capture it. I take over as chair of the board from Jonas Persson, who I want to thank for his great governance and counsel over the years.”