Promotes Derek Holt to Chief Executive Officer

Industry veteran brings extensive leadership experience and wealth of industry knowledge to continue company growth, the leading enterprise platform for AI-driven software development, today announced the promotion of Derek Holt as Chief Executive Officer. Holt joined in 2020 and most recently served as General Manager of the Intelligent DevOps division. He succeeds Stephen Elop, who will return to the role of Executive Chairman, which he assumed in 2020. Elop will continue to be engaged with customers and the management team.

“ is helping to accelerate digital transformation within the Global 2000,” said Holt. “We have an industry leading AI-powered DevOps platform that enables our customers to improve and secure their software development and delivery process, all while gaining a deeper understanding of the return on investment of their technology spend. I’m excited to come into this role and look forward to working with Stephen, the board, our customers and the team as we write the next chapter of our story.”

During his tenure as General Manager of the Intelligent DevOps division, Holt was responsible for improving’s industry leadership across the DevOps portfolio, including enterprise agile planning, continuous testing, release orchestration, deployment management, DevOps intelligence and AI solutions. He led the integration of several companies acquired by, resulting in increased total revenue, profitability, and employee engagement for the company. is a recognized industry leader1 that helps over 50% of the Fortune 500 optimize business value from the software they deliver.

“Derek has played an important role in building’s platform and establishing the company as a leading solution for modern software development,” said Nehal Raj and Art Heidrich of TPG. “His deep understanding of the industry as well as’s strategy and ethos make him the right person to succeed Stephen as CEO and lead the company into its next phase of growth.”

“I’m proud of everything our teams have accomplished together and of our ongoing commitment to driving differentiated value for our customers,” said Elop. “Derek brings a wealth of experience having led’s largest division over the last several years, and I am confident in the company’s future under his leadership.”

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May 28, 2023