Streaming video platform Vimeo announced that an executive from the company will depart after nearly a decade of serving the company. Anjali Sud will be leaving the company at the end of August and will be replaced by a board member temporarily.
(Photo : Lars Niki/Getty Images for New York Women in Film & Television)
NEW YORK, NY - DECEMBER 10: Vimeo CEO Anjali Sud on stage during the 2019 NYWIFT Muse Awards at the New York Hilton Midtown on December 10, 2019 in New York City.
Leaving Vimeo
Chief Executive Officer Anjali Sud is set to leave the video hosting platform Vimeo after serving the company for nine years. According to a report from Reuters, Sud will pursue other opportunities next month. Before becoming the CEO in 2017, Sud served as the company's general manager and head of marketing.
Vimeo Board of Directors Chairman Glenn Schiffman stated, "We are grateful for Anjali's impact over nine years at the company and a pivotal era of transformation at Vimeo, and I have no doubt she'll continue to do big things." Aside from working with Vimeo, Sud also became an executive at Amazon.
During her stay as a Vimeo executive, Sud stated that the company had a challenging road on the growth side. But as she takes this new path, this will lie in continuing the company's pivot from service consumers to serving businesses in order to make a video a strategic tool for companies.
Meanwhile, Sud explained her efforts as the CEO of the company for nine years. She believes that the company can easily achieve the company's strategy, team, and future success. "I am excited for Adam and for Vimeo to benefit from his experience and leadership."
The Desk reported that Sud was the previous instrumental in the acquisition for VHX acquisitions, while others position themselves as a Software-as-a-Services (SaaS) venture. Through this effort, the company brought more than just video solutions to its professional enterprise customers. Sud also faced successful rounds, including in January 2021.
Replacing Sud?
While the company searches for a new executive and permanent replacement, Bloomberg reported that Sud will be replaced by board member Adam Gross temporarily and will become the new interim CEO on September 1 until further notice. Since May 2021, Gross served as a member of the board, holding several executive marketing and product leadership positions.
Gross stated, "Having spent the last two years working closely with the executive team and the details of the business, I'm thrilled to step into this role to accelerate and streamline the company's strategy in making video a key part of how every business communicates with its customers, employees, and partners."
Also Read: Vimeo Releases Final Support End Date for Its TV Apps: Delists and No Updates on June 27
During the first quarter, the company reported $103.6 million in its quarterly revenue. While this may be a success to some, this represented a decrease from its 4.4% in the same period last year. Meanwhile the company expected revenue of about another $100 million in the second quarter.
Related Article: Vimeo Changes Bandwidth Policy, Creators Have Maximum of 2TB Before Platform Starts Charging Extra
